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deltastateonline.com :Leading Online News Portal for Delta State Nigeria:::Oceanic Bank’s Third Quarter Result Excites Ibru, Shareholders -
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Oceanic Bank’s Third Quarter Result Excites Ibru, Shareholders


04/09/2008

Managing Director of Oceanic Bank plc, Cecilia Ibru and some shareholders have announced that the bank has capacity to meet its immediate and future projections.

Reports show that Ibru and the shareholders’ optimism stemmed from the bank’s impressive operational results in the last nine months.

Reviewing the result at the weekend, Ibru said the turnover and profitability of the bank "are results of strategies put in place by the management to take the bank to greater heights."

She stated that the bank would ensure bumper returns on investments to its shareholders while rendering the best services available in the industry to customers.

"Oceanic Bank will be the best bank in Nigeria in all ramifications," Ibru assured shareholders.
Sunny Nwosu, National Coordinator of Independent Shareholders Association of Nigeria (ISAN) reporters that the "results have rekindled the hope of the investing public."

He said the bank’s N106.74 billion gross earnings and profit before tax of N40.74 billion during the period showed that it was above its peers in cost management.

Nwosu described the bank’s performance as a welcome development, adding that "the inherent challenge for the bank remains its capacity to grow its operations’’.

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