Capitec’s Post

Response to Zenith Bank’s Chairman Narrations ABSTRACT: The narrations of the Chairman and Founder of Zenith Bank PLC, (see short video below (as posted by Nurudeen Adeyemi), though, a seeming encouragement to Nigerians, yet, it is a clear history of how long Nigeria has suffered from economic and infrastructural setbacks, a horror induced by wrong application of sociopolitical and economic ideologies by our distracted leaderships. BACKGROUND : The Bank’s Chairman has informed us about the tussling history of their survival. Like constructing roads, energy generation, water supply etc, in their operational areas, in order to function as a business organization in Nigeria. Yet, it basically is not enough to hurray, because those vagaries he mentioned, are causal to high interest rates among banks in Nigeria, which affect enterprise and economic growth. Additional operation costs, constitute part of overhead expenses, which must be justified through interest rates and other administrative deductions as done hitherto in Nigerian Banks, in order to make profit and survive. CONSIDERATIONS: Would a society develop faster if corporate organizations are to provide public infrastructures, that are supposed to be the function of government? If organizations should perform the role of government, like the Chairman explained, then what happens to the budgets for those activities carried out by the companies, but were supposed to have been executed with public funds?. What happens to the funds not used for that purpose? Are you not aware that increase in cost of production is thus increase in overhead cost and would cause increase in cost per unit price of product hence inflation? How do you expect more companies to thrive in Nigeria, where average cost of production is higher than anticipated profit, in relationship with poor per capita income of the consumers? CONCLUSION It is evident the the laxity in governance has been the bane for the backward regression of Nigeria economy. A system that neglects its fundamental responsibilities. Therefore, our leaders should stop stealing from the treasury and resort to working with positive vision so that, more economic activities could flourish. That is the essence of good economic policy and application.

Vice chairman of Swiss Bank promoted to top job To know more about it read our full article here: https://lnkd.in/d7_SwXwN . . . . #cionews #newsdesk #dailynews #trending #SwissBank #LeadershipChange #NewCEO #BankingNews #FinancialLeadership #ExecutivePromotion #CorporateLeadership #FinanceIndustry #TopJob #BusinessNews

Danske Bank A/S hired Cecile Hillary from Lloyds Banking Group Plc as its new chief financial officer (#CFO), as #Denmark’s largest #lender sets the leadership team that will help it move on from a long-running #money-laundering scandal. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring

Yet another feather on the Throne! Highest Credit Rating from Global Auditor. It simply reflects how persistent growth BRAC Bank PLC has made over the years. This rating didn't achieve overnight, it took years of preparedness, thousands of hours of design, redesigning of processes, policies and commitment from all stakeholders. We archive, we retain, we develop, we grow together. #BestCreditRatingInBangladesh

Where we were, how far we've come and where we're going. Check out our Regional President, Chris Shah, in the interview below to learn more about what makes Great Plains Bank so GREAT! Great Plains Bank #greatertogether

Few days ago, I argued here that the CEO of a failed bank should not be the only person to be blamed when the entity he oversees fails. There are other mechanisms that also ensure good corporate governance practices and manages risks aside the CEO. Guarantee Trust Bank in implementing the Nigeria Code of Corporate Governance (NCCG) 2018 restructured their non-executive Directors in 2019 to one with keen focus on risk assessments and management and audit. This resulted in policies containing measures to reduce the bank's exposures to non-performing loans. The GTB move in 2019 well exemplify my argument.

Banca Monte dei Paschi di Siena Spa was founded in 1472. Great article on the history of the bank, and how it survived scandals and many stories of misappropriation of funds and scams by princes, employees, politicians … and some modern investment bankers! It seems at least that each time the first line was held accountable. Some were even beheaded in the Middle Ages!!! And it was not so much a question about “where was Internal Audit, Risk Management or Compliance” - like it read it too often in modern scandals… #theiia #riskmanagement #compliance #culture

Martyn Kendrick, a key figure at Lloyds Bank in the North East, shares insights on progress and potential in the region during an interview with BUSINESSiQ North East magazine. Beyond the financial figures, he highlights the transformative influence that can impact the regional economy directly. Kendrick emphasizes the importance of maintaining a personalized approach, ensuring that the significance of individual interactions is not overlooked. #LloydsBank #HelpingBritainProsper #BusinessInsights #EconomicPotential

📚 I am thrilled to share insights from an extraordinary read: "Biografia di una Banca: The Story of Bank of America NT & SA" This book delves into the history of one of the most influential financial institutions in the world, tracing the journey from its origins to become the banking giant it is today. The story begins in 1904 with the founding of the Bank of Italy by Amadeo Peter Giannini in San Francisco, which later evolved into the Bank of America we know today. The book meticulously documents the bank's pivotal role in sustaining the American economy through various historical events, including the Great Depression and World War II. What is particularly fascinating is the exploration of the bank's innovative practices, such as the introduction of the first bank credit card, the BankAmericard, which laid the foundation for the modern credit system. It also highlights the bank's expansion and the strategic mergers that have shaped its growth. As we experience the enormous complexities of the modern financial landscape today, understanding the roots and evolution of institutions like Bank of America provides valuable lessons on resilience, innovation, and the importance of serving the community. For banking and finance professionals, this book is not just a history lesson; it is a source of inspiration and a reminder of the impact banking can have on the progress of society.  In short, when banking was really banking! I highly recommend adding it to your reading list! 📖💼 #BankingHistory #FinancialInnovation #BusinessHistory #BankOfAmerica #EconomicHistory #LeadershipInBanking #BankingEvolution #FinancialSector #CorporateHistory #InvestmentBanking