Everyone stands to benefit from Project
GEAR says Ebong
By AMECHI OGBONNA.
Monday, September 8, 2008
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•Phtoto:
Sun News Publishing
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Group Managing Director and Chief Executive of Union Bank
of Nigeria Plc, Dr Bartholomew Ebong has stated that bank’s
pet Project GEAR, was intended to benefit every member of
the Union Bank family.
The GMD who was reviewing the performance of the scheme recently
noted that everyone stands to benefit from this transformation.
He explained that while shareholders of the bank are guaranteed
maximum returns, customers would receive quality service which
will ensure that they would continue coming back to the bank
even after the first service encounter.
Ebong said that such symbiotic relationship would help make
the staff of the bank better skilled on their jobs, while
having the necessary infrastructure to carry out their jobs.
He noted that the overall objective of the first phase was
for the bank to attain the forth position on all key indices
of performance by August 2008.
The first phase of the project would enable the bank conduct
a review of its strategy, people, processes, technology and
performance management with a view to implementing new strategies
that can grow the business further.
According to Ebong, the implementation of the proposal set
out under the programme, would ensure that stakeholders have
a whole lot to look forward to as the bank moves into the
next stage of the project.
Under the first phase Union Bank had taken steps to enhance
its internal communication, breaking down some of the information
gaps that existed between staff and management in an effort
to carry everyone along.
In addition, the bank has already evolved a new organisational
structure and branch operating model, to ensure increased
focus on new business development following the separation
of market facing functions from back office operations.
Union Bank management expects to achieve operational efficiency,
with improved turnaround and service delivery.
Observers believe that such measure could be critical for
a bank that intends to roll out an estimated N301 billion
shares for sell to the investing public in the next few weeks.
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