FMBN Reviews its Half Year Business Performance

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Ugo Aliogo
The Federal Mortgage Bank of Nigeria (FMBN) has reviewed its half year business performance for the first six months of 2016.

The review, which took place recently in Abuja, according to a report, was in line with its newly introduced organisational structure.

It was expected that the exercise would help improve its operations and chart a new course, in order to take the bank to greater heights in the area of housing finance.

Speaking at the event, the Minister of Power, Works and Housing, who was represented by Mr. E. D Olotu, encouraged the banks to organise such sessions on a regular basis in order to entrench a system of accountability and profitability.

He also charged the bank to periodically review its portfolio, with a view to optimising its assets to drive mortgage lending and profitability, “the State and Zonal Officers should use this as an avenue to highlight issues in their offices, so as to improve efficiency and ultimately the bank’s image.”

In his remark, the acting Managing Director, Richard Esin, said that as part of efforts for the bank to rebuild the trust and confidence of its stakeholders, there is need to focus on creating a performance-driven culture at all levels of its operations, which is achievable through the banks four-Pillar agenda, of corporate governance, bank profitability, operational effectiveness and debt recovery.