WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2011-01-17 Time: 07:00:02 Posted By: News Poster
Following the sale of some non-performing loan portfolio to the Asset Management Corporation of Nigeria (AMCON) and receipt of bonds worth over N200 Billion in exchange, the management of Oceanic Bank International says it is set for a future of sustained robust growth and profitability.
Group Managing Director/CEO, John Aboh said the bank is now operating with an enhanced liquidity ratio that is well above the 25 per cent level required by the Central Bank of Nigeria (CBN).
“Oceanic Bank ended the 2010 financial year in a robust form and we expect the trend continue in the years ahead. Deposits grew over 15% to close at over N630 Billion. Oceanic Bank’s future continues to be bright and we are committed to providing efficient and friendly banking services to all our customers. We remain stable and optimistic that our re-capitalization efforts will be successful.”
Thanking the Bank’s customers and shareholders for their loyalty and patronage, Aboh said Oceanic Bank remained committed to enhancing value for all stakeholders. “We have successfully repositioned the Bank and are optimistic of a stable and brighter future that promises good returns for shareholders.”
Already, the Bank has as part of the blueprint for its continuing growth and improved customer service, opted to go for the National Commercial Banking License in compliance with the revised banking model outlined by the Central Bank of Nigeria (CBN).
The Board of Directors of the Bank, had in compliance with the “Regulation on the Scope of Banking Activities and Ancillary matters, Number 3, 2010” as released by the Central Bank of Nigeria, resolved to apply for a National Commercial Banking licence under a Stand-alone operating model. The Bank expects to comply with the CBN guidelines within the designated timeframe prescribed in the new regulation.
The Bank will pursue a four-pronged recapitalization plan to achieve the N25 billion minimum capitalization required for national commercial banks. These include: organic means through profit from operations, sale of assets to the Asset Management Corporation of Nigeria (AMCON), AMCON financial accommodation to bring the negative Shareholders’ Funds (SHF) to Zero, and injection of fresh capital from strategic investors.
Original Source: 
Original date published: 16 January 2011
Source: http://allafrica.com/stories/201101170432.html?viewall=1