Mainstreet Bank Adopts New Growth Strategy

In response to the dynamics of the global financial markets, the Board and Management of Mainstreet Bank Limited have adopted a positional strategy that will place the bank in good stead to meet the needs of its growing customers.

The Board and management of the bank in a statement made available to newsmen recently, said its guiding vision is “to be the financial institution of choice for value creation and be among the top four banks in Nigeria”.

In order to achieve this, the bank noted that it will start by “creating enduring value for our stakeholders by delivering exceptional financial services”.

Giving further insight into the bank’s new competitive positioning, the Group Managing Director/Chief Executive Officer, Faith Tuedor-Matthews explained that the bank was careful in its statement of intent as its vision looks simple and realistic.

According to her, Mainstreet Bank has also mapped out a clear and uncluttered set of core values that would guide its engagement with its diverse stakeholders and facilitate a speedy realization of the bank’s vision.

The Group Managing Director pointed out that Operational Excellence, Customer Orientation, Integrity, Teamwork and Empathy, which jointly forms the acronym ExCITE, are cardinal principles that will guide the interface between the bank and its stakeholders.

ExCITE is as much a guiding principle as it is a business strategy urging its staff to excite its customers and at the same time declaring to the customers that Mainstreet has come to excite the market.

The strategy session also led to the realignment of the bank’s organization structure to ensure a level of nimbleness and effectiveness that are critical for success in the increasingly competitive financial markets.