Nigeria: Atuche Briefs Press at the Launch of Bank PHB’s “YOU GO WIN” Promo

Group Managing Director, Bank PHB, Francis Atuche,  briefs members of the press and others at the launch of Bank PHB’s “YOU GO WIN” Promo. “Gentlemen of the press, my colleagues, distinguished ladies and gentlemen, we have done it again. In more ways than one, Bank PHB has proven that it is in this business of financial intermediation primarily to delight teeming customers through innovative solutions to their respective financial needs. Our track record validates our growing reputation as Nigeria’s “thinking bank.”

From pioneering Nigerians in Diaspora Account (NIDA) designed for Nigerians resident abroad to the Bank PHB House Owner Advantage which allows property owners access funds easily and fulfill their dreams and the UK Education Loan, which allows Nigerians without bulk funds access to UK Education. Today, I welcome you to yet another historic unveiling of an offering from the bank PHB stable, aimed primarily to put smiles on the faces of our retail customers. In order for it to resonate well with our target market we have aptly tagged this offer, YOU GO WIN PROMO.

You recall that in justifying the reforms in the banking industry, the Central Bank of Nigeria argued that banks being vital catalysts in stimulating economic growth needed increased capitalization in order to give more Nigerians access to financial resources. The apex bank posited that this would in no time energize the small and medium scale business and more importantly return the almost non-existent middle class. Given the benefit of hindsight and today’s reality, one can confidently say that nothing indeed could have been more prophetic.

Tapping into this desire of the apex bank, Bank PHB emerged from the consolidation exercise with a clear retail banking strategy that has been hailed by reputable organizations as “most well thought out” in the Nigerian banking industry. We have also been acknowledged as Nigeria’s most innovative bank in this year’s Annual Banking Awards. We are indeed proud of these recognitions as they bear testimony to our unrelenting desire to be at the forefront of the emergence of a financially empowered Nigerian.

We however realize that in spite of the immense potential of the average Nigerian, he is faced with critical challenges that constrain his active participation in the formal economy. For us, encouraging this critical segment of the Nigerian population to play an active role in the formal economy is key to Nigeria’s economic development. Beyond the immense business opportunities that abound in this segment of the economy, we realize that this focus will afford us sundry opportunities to once again add value to the lives of our customers.

Bank PHB’s “YOU GO WIN” promo as the name connotes is primarily targeted at energizing the passive saving habits of the average Nigerian. Savings is critical to economic growth as what is saved is eventually what is invested to grow the economy. Encouraging Nigerians to save therefore is another way of encouraging Nigerians to grow the economy. It is this thinking that has ultimately led to today’s launch of the “YOU GO WIN” promotion.

The promotion is easy to be part of. It is open to existing and prospective customers of Bank PHB. To be eligible for the promo draws, an individual is expected to:

Increase his/her account balance by N5, 000.00 every month over the next 6 months and stand a chance to win Gas cookers, Coolers, Television sets, DVD Players, Fridges, and Microwaves during the 6 weekly draws.
OR
Increase his/her account balance by N20, 000.00 and above and stand the chance of winning in addition to any of the above items above, a brand New Hyundai Accent car.

The Promotion is applicable to both current and savings account holders. This offer also includes new customers. Non account holders can immediately sign up for the promotion by opening an account with Bank PHB with as little as N5, 000.00.

What is unique about this promo is the fact that participation and award of prizes will happen at the branch level. All our branches have been mobilized for this promotion. Unlike other competitive promos that are done on TV and national draws are done in one central location, this our “YOU GO WIN” promo draws will happen every 6 weeks in all our branches. Winners will emerge from the customers of each branch. You can visit our branches to see the prize items already displayed.
This promo will run till February, 2009.

“Given our commitment to touching lives, we are the propeller in your feet ready to support you on a leap to unimaginable heights in life. We are not just another bank next door. We are a thinking Bank, continually seeking to nurture a banking public that is unrestricted by any form of challenge.

“Finally, I wish to state that the YOU GO WIN promo is in line with our commitment to excite Nigerians to increase their savings habit and in the process create a pool of funds to invest in the economy and help propel economic growth. This would ultimately translate to increased standard of living for all Nigerians.

“Gentlemen of the Press, I thank you for honouring our invitation.” Atuche concluded.

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