Scam Alert  |  FAQ  |  Site Map   Home     About Us     e-Banking     Customer Care     Products     Careers     Press Room    Contact Us     You are here :: Press Room >> News       Press Room >>   News Highlights                                 Quick Links   Quick Links Internet Banking ATM Locations Branch Locations e-Helpdesk Download Forms FAQs Interest Rates News   Email this page Print               Jan. 11, 2010 Oceanic Bank Leads Bank Stocks Recovery Oceanic Bank International Plc has started showing its growth potential as its equity is leading the recovery of bank stocks on the Nigerian Stock Exchange (NSE) in the opening days of trading in 2010. By close of trading in the first week of 2010, the share price of Oceanic Bank has appreciated by 26.04 per cent, the highest in the sub-sector. The share price, which closed 2009 last year at N1.69, rose to close at N2.13 per share last Friday. Market operators said investors are already taking advantage of the low price of the bank considered to have very bright future prospects. Oceanic Bank is a good brand and the current management is already putting strategies in place to return the bank to profitability. Discerning investors are now swooping on the shares ahead of the expected improved fortunes in the not too distant future, a leading stockbroker said. Speaking on the development, John Aboh, Group Managing Director/Chief Executive Officer, Oceanic Bank International plc, said the bank's management was committed to creating value for its shareholders through the implementation of a robust recovery plan. Aboh said the upward movement of the bank's share price was indicative of growing customer and investor confidence in the ability of the Bank to return to profitability and create wealth for all its stakeholders. Oceanic remains a top brand that has the endorsement of the banking and investing public. The current share price movement is a good development and we are constantly building on the growth trends that we are witnessing to ensure enhanced returns for our shareholders in the very near future.The Oceanic Bank chief said the Bank would soon embark on consistent shareholder engagement sessions that will be geared towards carrying all stakeholders along as the Bank continues to take strategic steps towards accelerated recovery. We hold our shareholders in the highest esteem and would certainly reach out to them regularly, share our vision and strategy with them as well as receive their contributions, which we treasure as an organization. We are in business because our shareholders have demonstrated sufficient confidence to invest in our stock . We are convinced that constant interactions with stakeholders will translate to greater value for all, he added. Aboh said Oceanic in the 2010 financial year will remain focused on superior customer service, intensify its commitment to the enthronement of strong corporate governance and sustain growing trends in business development. Loan recovery and operational efficiency will be accorded urgent and consistent management attention. He added that the Bank also had its sights on expanding revenue generation opportunities and focusing on trade finance where it has renewed strategies to win businesses in import and export services. Finance experts say this move to deepen relationships with strategic accounts will increase the bank's share of trade business and attract new relationships to Oceanic Bank's world class trade product offerings. Press -  VANGUARD (PG. 24), TRIBUNE (PG. 6), DAILY INDEPENDENT (PG. 26), COMPASS (PG.5), BUSINESS WORLD (PG. 2), TRIBUNE (PG.40)     Privacy & Security   |   Resource Centre   |  Contact Us  |  Terms of Use   |  Site Map    Copyright © 2009 Oceanic Bank Plc. All Rights Reserved.