By – Ademola Babalola, Ibadan.

The Punch Newspaper – Wednesday, February 13, 2019

The management of Cooperative Mortgage Bank said it had set a target of raising its performance level in the finance industry by sourcing for ₦5bn through shareholders’ fund and reaching the goal of ₦12bn balance sheet by the year 2020.

A director of the bank, Mr. Oluwole Okunuga, stated this during the opening ceremony of the Bank’s Quarterly Retreat held at the Babcock University, Ilisan Remo, Ogun State as part of the activities to marks its 25th year anniversary.

Okunugu said, “The theme of the retreat is Review, Review and Reinvent for a brighter future”. The management Board of CMBank is in a new era and it has set a target raising N5bn from shareholders’ fund”.

He further said that “The Bank is also looking at the goal of creating ₦12bn balance sheet by the year 2020. The efforts of the members of staff in dealing with customers will be central to achieving these near future goals”. He implored members of staff to work hard to help the Bank grow.           

The Managing Director/CEO, Mr. Ayinde Tukur, said, growing deposit base of the bank would help to realize the goal. According to him, having reached the present height of ₦4bn deposit base, the 2020 agenda would not be difficult.          

Also, at the retreat, the Bank launched its own ATM card. The Managing director of the Finese Management Consultant and Shareholder, Mrs Dupe Akindeko, said that with the new initiative, CMBank have the advantage to hasten its growth in the industry.