Intercontinental Bank Promotes 2000

Intercontinental Bank Plc has up-scaled its human capital management and welfare system that is expected to position its workforce in good stead for global competition.

The strategy includes a rapid promotion package for highfliers, jumbo bonus payout for outstanding performance as well as exposure to local and international total quality courses and training programmes for the bank’s over 9000 staff.

The bank said over 2000 staff have benefited from the promotion strategy just as 50 were disengaged recently for reasons bordering on integrity and non performance.

The promotion which cuts across all departments and ranks is significant as it was the largest number of staff ever promoted in the history of the bank. The bank’s Group Chief Executive, Dr. Erastus Akingbola, said that under the new scheme staff would no longer wait for the traditional promotion period to get their due reward.

According to the seasoned banker and administrator, Intercontinental Bank will continue to give accelerated promotion for exceptional performance adding that the new banking environment have no room for non-performers. He also said the employment creation in the bank will continue to be in upbeat given the rapid expansion of the bank in the country and abroad.

With its equal opportunity employment policy, extensive welfare packages and robust training programmes, Intercontinental bank has become the company of first choice for many job seekers in the industry. The bank currently has a workforce of over 9000 staff. in the last financial about 2139 Nigerians were recruited locally and from the Diaspora by the bank robust in creating employment as. were recruited during the period

Dr. Akingbola said the bank was committed towards reducing the growing unemployment in the country and therefore would continue its robust employment creation policy.

Industry observers attribute the leap in employment in the bank to aggressive branch network development across the country and business expansion across all segments of the economy and abroad.

 

The banking conglomerate has stepped up its expansion drive since its successful consolidation in 2005 as it intensifies its vision of becoming the number one financial institution in Nigeria and Africa and among the top 100 in the world.

 

In the last financial year alone the bank rolled out 70 new branches bringing the total number of its branch offices to 300, one of the highest in the industry.

 

Dr Akingbola said the new branches are creating thousands of new jobs and huge business opportunities for contractors and local communities.

“Every new branch we open not only helps in shrinking the swelling army of unemployed graduates but creates opportunity for businessmen and women to earn income”, he said.

 

This figure is expected to double in the 2009 financial year when a lot more new branches would have taken off. The bank’s equal opportunity employment policy and extensive welfare packages and robust training programmes, make it company of first choice for many job seekers in the industry.

 

In the area of manpower development Akingbola said over 6,000 went for several training programmes during the year with significant number of them taken in leading European and American business schools. The bank’s increasing international foray, analysts said would in no distance future make it an exporter of highly skilled labour.

 

Dr. Akingbola said the bank expect the new promotion strategy will go a long way in strengthening resolve of staff to further move forward in the realization of the bank’s corporate goals and objectives.

 

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