By Felix Ofou, Dennis Otu, Daniel Bayatbon, Christopher Odamah and Oreva Godwin
The Chairman of Delta Trust Mortgage Bank, Hon Jude Omena Ogbimi has said that the Bank will in no distant time be a regional bank in the country.
He made this known to the Crew of Delta Revealed in his office in Asaba.
He said the bank was waxing stronger and that it would soon be a regional bank in the oil rich Niger Delta region.
Hon Ogbimi disclosed that two branches of Delta Trust had been opened so far in some parts of the State since his assumption of office, while efforts were underway for other branches to be opened in Bomadi, Okpe, Uvwie and across the 25 Local Government Areas of the state.
“We have been able to open two branches. Yes, the Ughelli branch is coming up on stream. By the first week in January, it will be completed and furnished. We are targeting the huge market out there. Before our emergence as a board, the bank was not really visible. But today, people are hearing about Delta Trust because we are able to drive it to the grassroots. We are daily increasing the potentials of the bank.
“I have spoken to the Governor on ways of improving some of our products. At the grassroots, we went to Okpe Local Government. The Chairman is aligning with us to ensure that their staff open accounts with us. They’ve decided to give us an office in the secretariat to make it easy. The same thing with our amiable Local Government Chairman of Uvwie; he’s giving us space for our caravan.
“We already have a template with Bomadi. All these were initiatives I came up with. Today, our RSA revenue has increased, and our bank is doing better than we met it because we have new hands on deck. The reforms were resisted initially, but I had to ensure that those reforms came on board. And today, it has yielded so much benefit to us.”
“We are the only mortgage bank, state-owned mortgage bank in the South-South. So, we must be able to harness our competitive advantage, which I am trying to ensure that we do. And by the special grace of God, by the time our Excellency is leaving office in 2031, I can assure Deltans that this bank will be a regional bank. I see the possibilities,” he said.
He however pointed out that there were some challenges and irregularities in the banking sector when he came on board. He stated that the bank was fast growing in terms of viability and machineries put in place for the upsurge of the bank, adding that that Deltans are beginning to embrace Delta Trust Mortgage Bank these past few months.
“Like I said earlier, when we got on board, we saw a more refined view. Some irregularities, and I knew that it would be a shame if I did not face those challenges. I would be a disappointment to the Governor, because he knows my profession, and he saw me fit for the position, and that is why he gave me the position.”
“The most important thing is getting a bank that is viable. Once you have a bank with toxic assets all over the place, your loan is bigger than your assets; you are already failing. Whatever we have had has eaten up the deficiency, has eaten up our shareholder funds, and that tells you that you are not viable.”
“The most important thing we have as a target today is to ensure that the bank is a viable entity. As the bank is viable, it encourages the shareholders, the Ministry of Finance Incorporated (MOFI), to invest with the bank. It will give the Governor reasons to back the bank; it is a government-owned bank, why should it fail?
“So, just as we have a proper management structure, a new board headed by myself, and other experts, I think we will do far better. The target is that in the next seven years, we should be able to take this bank from point A to point B, and point B, by the end of 2031, is ensuring that this bank is a regional bank.”
“Today, the marketing department was among those that were reformed; we have someone heading that place right now, and we gave them a target, and they are meeting up with the target. Our sustenance right now is on RSA. RSA says that you can access 25% of your pension contributions through PENCOM; we can not even meet the demand. Since I came on board, it has increased over 200%. We surpassed our income for 2024,” he said.
In same vein, the Chairman categorically stated that Governor Sheriff Oborevwori is deliberate in making sure that the policies in his MORE agenda is carried out to the latter including the banking sector, particularly Delta Trust Mortgage Bank. He continued;
“If you watch our Governor today, you will find out he is a no-nonsense Governor. He is not a sentimental Governor; He is not a Governor who is involved in sycophancy and bootlicking and all that. You can see every area of the state is being touched.”
“Is it the Urhobo, the Isoko? The Isokos have benefited a lot, massively, from his generosity. Is it the Ukwanis, the Ikas, the Itsekiris? Look at what is happening in the Warri axis. I was born in Warri, had my formative years in Warri, my primary one to six was in Warri before I left for Federal Government College in Oyo State. If I was told ten years ago that Warri can have such a look, I will say, “How do you want to do it?” To God be the glory, I am an international man, and every Deltan, every Warri person is praying for His Excellency, especially what he is doing in that place. Everybody wants to come back.”
“Look at Plantation City, for instance, the demands for property there and environs are enough for infrastructure being built in Warri. So I see some of these oil companies that left coming back. Why am I saying this? The tone at the top dictates the pace. I see my employer is not compromising. If I go down with a variance with his laid-down principles, that means there is no sincerity of purpose with what I came here to do.
So I must be seen to do things that are in alignment with his vision, the MORE Agenda. It is only through this that people will realize that most of the people he has planted in the Ministry, Department, and Agency are working to deliver and gazette the MORE Agenda,” he concluded.
