…Promises better dividends to state IGR
The Imo State Microfinance Bank has held a two-day management and staff retreat in Owerri, with the theme: ‘Building a winning team towards value addition’.
The retreat had staff from different branches of the bank in attendance.
Welcoming staff to the retreat, the Managing Director and Chief Executive of Imo Microfinance Bank, Lady Blessing Nwaoba said the aim was to reappraise staff performances for year 2024 and strategize on how best to approach year 2025 with the present economic conditions and it’s associated risks, fiscal policies, cyber attacks, market volatility, social and economic factors.
She said the retreat would help them to review their strategies, processes and procedures and fine tune them for better results.

Lady Nwaoba who disclosed that the bank disbursed loans to over 320 customers in the year 2024 and had the lowest defaulting rate, maintained that the bank would strategically grow its savings by marketing target savings, thrift account, salary advance and internally generated revenue collections.
She thanked Governor Hope Uzodimma for the platform to serve Imo people, and also applauded the Governor’s sterling leadership qualities.
Head of Operations and Finance, Mr Stanley Onyemauwa, who took participants through the stock review, said the bank had solid operating results for fiscal year 2024 and achieved the goal of managing operating expenses at minimal or less revenues.
He gave a breakdown of the bank’s assets, liabilities and equity, and emphasized the need for more effort to achieve greater results in 2025.

In his paper presentation, entitled “Building a winning team towards value maximization”, Dr Emeka Nwanga said one of the concepts of building a winning team was through a retreat and charged the participants to maintain punctuality, integrity and commitment to serving customers better.
He identified market focus and position, distinctive capabilities, performance anatomy and balance alignment as well as passion, as some of the business models to enable them grow the bank.
Dr. Nwanga who is a financial consultant illustrated the Pareto Principle of 80/20 rule of business, emphasizing that 80 percent of the result comes from 20 percent of the effort.
“A committed team thrives on new and innovative ideas”, he added, while explaining that achieving an effective team means bringing together the right number of people, with the right attitude and skill in the right place and at the right time.

Rev. Dr. Austin Uchegbu of Global Addition Services LTD, who anchored the Retreat, encouraged participants to put more effort and grow the establishment.
Delivering a lecture on the topic, ‘Strategic relationship for a winning team’, Dr. Uchegbu said strategic relationship adds value to one’s life vision, pursuit and purpose.
He explained that effective strategic relationships involve the sharing of risks and rewards, where partners collaborate to mitigate potential challenges and capitalize on opportunities, stressing that it is crucial for the success of business and individuals alike.
The two-day retreat also featured a question and answer session, as some of the participants also made suggestions and contributions towards reducing cost and maximizing value.