Not playing on facts or media impressions yet... even before i left nigeria in 2009,first bank was on the move...to somewhere i could not tell at the time...It was something between being first as the name implies and yielding to the pressures of modern day banking.First they started with infrastructure..giving a new look to an old and conventional banking philosophy..atleast on the outside..and then i think services too..yes..maybe services..even if the queues were long,you wont really mind as all the air conditioners were working and waiting areas look well kempt.This is the point.... when it comes to customer facing and repeat business sectors like banking,the seen parts.i.e.infrastucture..is as important as the unseen part..i.e..derivatives etc..that is why i would rather bank with GTB than sterling,union or anyone other bank..hence the GTB slogan "wont you rather bank with us?"banks need to start playing on that strategy..afterall..they all do the same thing..keep money..atleast for now..because we know they really dont do much with our money..they just keep it!
Thanks Akin for the comment. I would agree with you that first bank has undergone a tremendous infrastructure overhaul but is this the reason why the bank is so profitable? Could it be that the bank is still ridding on the first mover advantage or could it be that the growth is based on the trust it has built over the years?
Not playing on facts or media impressions yet... even before i left nigeria in 2009,first bank was on the move...to somewhere i could not tell at the time...It was something between being first as the name implies and yielding to the pressures of modern day banking.First they started with infrastructure..giving a new look to an old and conventional banking philosophy..atleast on the outside..and then i think services too..yes..maybe services..even if the queues were long,you wont really mind as all the air conditioners were working and waiting areas look well kempt.This is the point.... when it comes to customer facing and repeat business sectors like banking,the seen parts.i.e.infrastucture..is as important as the unseen part..i.e..derivatives etc..that is why i would rather bank with GTB than sterling,union or anyone other bank..hence the GTB slogan "wont you rather bank with us?"banks need to start playing on that strategy..afterall..they all do the same thing..keep money..atleast for now..because we know they really dont do much with our money..they just keep it!
ReplyDeleteAkin Martins - Thoughts in a jivy
11th June,20011
Thanks Akin for the comment. I would agree with you that first bank has undergone a tremendous infrastructure overhaul but is this the reason why the bank is so profitable? Could it be that the bank is still ridding on the first mover advantage or could it be that the growth is based on the trust it has built over the years?
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