Keystone Bank for the quarter ended March 2018, recorded a profit before tax of N3.72 billon, compared with a loss of N2.79 billon over the same period in 2017.
The lender’s deposit also surged by 42 percent or N84 billon to N283 billion at the end of the quarter March 2018.
It can be recalled that that following the successful completion of AMCON’s divestment from the bank, a five-man transitional board was set up to oversee its re-positioning for growth and competitiveness.
The transitional arrangement was successfully concluded on August 15, 2017 with the assumption of office of the substantive MD/CEO.
In less than one year, the bank has seen impressive transformation in all ramifications. It has invested substantially in technology and developed fully integrated service models that enable customers access banking services through a wide range of channels.
The Keystone mobile banking application boasts of several unique features such as the ability to bank with zero data, the Oxygen Chat Banking and several others that have re positioned the bank to compete effectively in the sector.
Group Managing Director/CEO of Keystone Bank Limited, Obeahon Ohiwerei, who spoke on the development, said, “This achievement is a testament to the hard work and resilience of the management and staff of the bank. From inception it has been our vision to restore the confidence of all our stakeholders with tangible results and we are indeed pleased with this start.”
Ohiwerei stressed that this was only the beginning of greater things to come, noting that the team was set to double its efforts in meeting and surpassing the expectations of its customers.
“It was not an easy journey,” he said, “and we do have a tough road ahead. However, we are confident that we will take Keystone Bank to enviable heights within the banking industry.”
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