Fcmb reacts to mass sack of workers rummors

As a result of the various policy changes that have
affected banking adversely and macroeconomic
challenges, volumes of business in various
geographies and product areas have reduced
significantly. 

These factors have resulted in the
redundancy of various roles. Regardless, we have
continued to hire in various areas of the group,
particularly those that will drive financial inclusion
and provide support for the real sector.

One
unintended consequence of the current scenario is
that we have been unable to redeploy affected staff
from some redundant roles. We have thus been
compelled to effect a minor reduction in our staff
strength.

 However the affected employees to date
are approximately a quarter of the figures being
suggested in the press.

 We will continue to create
employment opportunities in the areas that align
with our national economic priorities and the growth
areas of the financial service industry.

 We remain
optimistic about the long term prospects for the
industry and will be a net creator of jobs over the
next few years as we expand our franchise to support
national priorities such as financial inclusion, import
substitution and non oil export promotion.