Week 18 04-29-2024
MANAGEMENT MEETING
Duration: 8:30 am - 12:43 pm
Venue: Virtual Via Google Meet
Presided by: Faith Ozegbe
ATTENDEES
ADETAYO OLUKOGA - Asset Creation
AJIBOLA ABDILFATAI - Portfolio Risk Officer
AMOTO SERIKI - Internal Operations
ANTHONIA OGBU - Head, Underwriting
CHIMA AGU - Ag. Head, Client Experience Management
CHINEDU UGWU - Legal
EDNA EJIMAKOR - Branch Head Port Harcourt
EMMANUEL ONAKOYA - Head, CRM
GBENGA AJAYI - Lead, Wealth Management
GODFREY EGBUOKPORO - Ag. Head, Communications
FAITH OZEGBE - Acting Secretary
ISIMEMEN EBOHIMEN - Accounts
ITIEKHAO IKPEMINOGENA - General Manager
LINDA OTTAH-IJEKEYE - Brokers Admin
LOLO YOUNG-HARRY - Sales
KEJI NWANNE - Sales
OLUWADAMILARE OLAYINKA - Head, Transformation
OLUWAFEMI SIYANBOLA - Sales
OLUWOLE EWEJOBI - Head, Information Technology
OLUWATONI LAWAL - Head, Telesales
OMOWALE BELLO - Cooperate Lease
OWOICHO AGADA - Ag. Head, Human Resources
SAMUEL OTTAH - Product Development
SOPHIA DAGI - Ag Head, Client Experience Management
STANLEY MAFUVWE - Lead, Asset Remedial Management
TTAIWO AJAGUNSEGUN - Business Operations
Sophia Dagi said the opening prayer
ORDER OF PRESENTATION
Account, Client Experience Management, Telesales, Asset Creation, Brokers, Corporate Lease, Wealth Management, Credit Risk Management, Product Development, Business Operations and Legal
ACTIVITY REPORT (15th – 19th April, 2024)
Accounts Team Report
The report shows the activity for the period under review.
Client Experience Management Team Report
For the period in review, 264 conversations were recorded: 87.50% from Lagos, 4.92% from Port Harcourt, and 7.58% from Abuja.. The complaint breakdown: Wrong debit @42.86%, CRC issues @23.81%, Disbursement @33.33%, Consumer Petition @4.54%. All complaints received will be taken up with concerned stakeholders.
Ikpeminogena Itiekhao asked that complaint breakdown be shown across 6 weeks, for subsequent report to track the complaints and work towards solutions.
Tele-sales Team Report
The total amount consummated by the team for the week in review is 5.6M at 5 counts (20% of the target) with the core telesales and customer retention team consummating 5.3M (54% of the week’s target) at 4 counts and 300K (2% of the week’s target) at 1 counts respectively.
Chukwuma Ochonogor expressed his displeasure in the current turnout by the team and asked that they step up.
Asset Creation report
For the period in review, Transactions disbursed are 52.2M.
Chukwuma Ochonogor expressed his displeasure in the current turnout by the team and asked that they work on being more productive.
Brokers Admin Team Report
The week in review shows liability generation is 20.24% (3M) of the budget. Risk Asset Transaction Disbursed for the week Nil, Fresh Fund (RTN) for the Week 2.8M, Reap Fund for the week 50K, Rollover for the week 1.0M, Liquidation for the week Nil. The report also captured Pending RTN transactions.
Chukwuma Ochonogor reiterated his instruction from last week as regards the slide showing the manpower report.
Cooperate Lease Team Report
shows all transactions of the existing operating lease clients and their outstanding payments. The report also captures transactions in the pipeline (operating lease).
Chukwuma Ochonogor asked the team to add to their report details on fleet size and take out SME Finance lease
Wealth Management Team Report
For the week in review, the Executive summary shows the Liquidity Requirement status as BAD (49%). Week 16 experienced a net positive change in cash flow from 27M negative in week 15 to 32M positive. Wealth Management reported a positive 32M total NetFlow, with 346 million inflows and 314 million outflows.
Chuwkwuma Ochonogor asked that the % YTD achievement be added to the graph with graphs and also the manpower report should be improved on.
Credit Risk Management Report
The report shows Core underwriters approved 126 transactions and pushed back 61 transactions. The senior underwriters approved 78 transactions and pushed back 25. In the recovery space, broken down as PDO is 17.5M (33.6% of the target). Extended interest recovery as 1.2M at 15 counts (23.95% of the target), Provisioned Accounts recovery as 7.5M at 27 counts (109.5% of the target).
Chuwkwuma Ochonogor asked that report be properly structured.
Product Team Report
Captures ongoing and completed projects.
Business Development Team Report
Captures ongoing and completed projects.
Chukwuma Ochonogor mentioned the report is too long, the team should priortize on tasks to be reported, these tasks should be one that moves business models forward
Legal Team Report
The report captures the litigation and other tasks for the week in review
RISK ASSET GENERATION REPORT
| ROSABON FINANCIAL SERVICES LTD- RISK ASSET GENERATION REPORT | LAGOS BRANCH PERFORMANCE | ||||||||
| WEEK | 17 | Ending | 27-Apr-24 | ||||||
| BAL B/F | WEEK 17 | ACTUAL PERFORMANCE | ACTUAL | NET PERFORMANCE | CUMULATIVE 2024 BUDGET | BUDGET VARIANCE YEAR TO DATE |
PERFORMANCE YEAR TO DATE |
% CHANGE BETWEEN 2024 & 2023 | |
| ACTUAL PERFOMANCE | YEAR TO DATE | PRE-LIQUIDATED LOANS | YEAR TO DATE | ||||||
| 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | 2024 Vs 2023 | ||
| PRODUCTS | |||||||||
| Personal Loan / Public Sector Employee Loan / Group Loan | 374,921,500.00 | 52,859,000.00 | 427,780,500.00 | - | 427,780,500.00 | 1,499,703,119.87 | -71% | 802,815,487.84 | -47% |
| Consumer Leases | - | - | 6,422,861.50 | -100% | 4,533,941.97 | -100% | |||
| Asset Cash Loan | - | - | 0% | ||||||
| SPBS | - | - | 0% | ||||||
| Sub-Total | 374,921,500.00 | 52,859,000.00 | 427,780,500.00 | - | 427,780,500.00 | 1,506,125,981.37 | -71.60% | 807,349,429.81 | -47% |
| Corporate Leases | 92,125,000.00 | 92,125,000.00 | 92,125,000.00 | 11,433,694.11 | 0% | 706% | |||
| Operating Leases | - | - | - | 325,293,612.83 | 0% | 55000000 | -100% | ||
| Business Support Loan/ACL-Corporate | - | - | - | 3,341,854.58 | 0% | 10000000 | -100% | ||
| Sub-Total | - | 92,125,000.00 | 92,125,000.00 | - | 92,125,000.00 | 340,069,161.51 | -72.91% | 65,000,000.00 | 42% |
| B2C - Products | 374,921,500.00 | 52,859,000.00 | 427,780,500.00 | - | 427,780,500.00 | 1,506,125,981.37 | -72% | 807,349,429.81 | -47% |
| B2B - Products | - | 92,125,000.00 | 92,125,000.00 | - | 92,125,000.00 | 340,069,161.51 | -73% | 65,000,000.00 | 42% |
| TOTAL FOR LAGOS | 374,921,500.00 | 144,984,000.00 | 519,905,500.00 | - | 519,905,500.00 | 1,846,195,142.88 | -71.84% | 872,349,429.81 | -40% |
| Cash Backed loan / Credit Card | 19,450,000.00 | 19,450,000.00 | 19,450,000.00 | 100,372,553.78 | -81% | 1,350,000.00 | 1341% | ||
| Total Risk Assets & Cash-Backed Loan | 394,371,500.00 | 144,984,000.00 | 539,355,500.00 | - | 539,355,500.00 | 1,946,567,696.65 | -72.29% | 873,699,429.81 | -38% |
| ROSABON FINANCIAL SERVICES LTD- RISK ASSET GENERATION REPORT | ABUJA BRANCH PERFORMANCE | ||||||||
| WEEK | 17 | Ending | 27-Apr-24 | ||||||
| BAL B/F | WEEK 17 | ACTUAL PERFORMANCE | ACTUAL | NET PERFORMANCE | CUMULATIVE 2024 BUDGET | BUDGET VARIANCE YEAR TO DATE |
PERFORMANCE YEAR TO DATE |
% CHANGE BETWEEN 2024 & 2023 | |
| ACTUAL PERFOMANCE | YEAR TO DATE | PRE-LIQUIDATED LOANS | YEAR TO DATE | ||||||
| 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | 2024 Vs 2023 | ||
| PRODUCTS | |||||||||
| Personal Loan / Public Sector Employee Loan / Group Loan | 80,615,000.00 | 8,160,000.00 | 88,775,000.00 | - | 88,775,000.00 | 1,087,284,761.90 | -92% | 220,041,297.00 | -60% |
| Consumer Leases | - | - | 2,335,586.00 | -100% | - | 0% | |||
| Asset Cash Loan | - | - | 0% | 0% | |||||
| SPBS | - | - | 0% | 0% | |||||
| Sub-Total Abuja | 80,615,000.00 | 8,160,000.00 | 88,775,000.00 | - | 88,775,000.00 | 1,089,620,347.90 | -92% | 220,041,297.00 | -60% |
| Corporate Lease | - | - | 1,633,384.87 | -100% | 0% | ||||
| Operating Leases | - | - | 50,601,228.66 | -100% | 0% | ||||
| Business Support Loan/ACL-Corporate | - | - | 1,838,020.02 | -100% | 0% | ||||
| Sub-Total B 2 B Leases | - | - | - | - | - | 54,072,633.55 | -100% | - | 0% |
| - | |||||||||
| B2C - Products | 80,615,000.00 | 8,160,000.00 | 88,775,000.00 | - | 88,775,000.00 | 1,089,620,347.90 | -92% | 220,041,297.00 | -60% |
| B2B - Products | - | - | - | - | - | 54,072,633.55 | -100% | - | 0% |
| TOTAL FOR ABUJA | 80,615,000.00 | 8,160,000.00 | 88,775,000.00 | - | 88,775,000.00 | 1,143,692,981.45 | -92% | 220,041,297.00 | -60% |
| Cash Backed loan / Credit Card | - | - | 10,037,255.38 | -100% | 0% | ||||
| Total Risk Assets & Cash-Backed Loan | 80,615,000.00 | 8,160,000.00 | 88,775,000.00 | - | 88,775,000.00 | 1,153,730,236.83 | -92% | 220,041,297.00 | -60% |
| ROSABON FINANCIAL SERVICES LTD- RISK ASSET GENERATION REPORT | PORT-HARCOURT BRANCH PERFORMANCE | ||||||||
| WEEK | 17 | Ending | 27-Apr-24 | ||||||
| BAL B/F | WEEK 17 | PERFORMANCE YEAR TO DATE 2023 | PRE-LIQUIDATED LOANS 2024 | NET PERFORMANCE 2023 | CUMULATIVE 2024 BUDGET | BUDGET VARIANCE YEAR TO DATE 2024 |
PERFORMANCE YEAR TO DATE 2023 |
% CHANGE BETWEEN 2024 & 2023 | |
| ACTUAL PERFOMANCE | YEAR TO DATE | PRE-LIQUIDATED LOANS | YEAR TO DATE | ||||||
| 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | 2024 Vs 2023 | ||
| PRODUCTS | |||||||||
| Personal Loan / Public Sector Employee Loan / Group Loan | 109,347,493.34 | 10,623,000.00 | 119,970,493.34 | - | 119,970,493.34 | 1,162,269,917.89 | -90% | 214,295,863.40 | -44% |
| Consumer Leases | 159,300.00 | 159,300.00 | 159,300.00 | 2,919,482.50 | -95% | 0% | |||
| Asset Cash Loan | - | - | 0% | 0% | |||||
| SPBS | - | - | 0% | 0% | |||||
| Sub-Total Port Harcourt | 109,506,793.34 | 10,623,000.00 | 120,129,793.34 | 0 | 120,129,793.34 | 1,165,189,400.40 | -89.69% | 214,295,863.40 | -44% |
| Corporate Leases | - | - | 3,266,769.74 | -100% | 0% | ||||
| Operating Leases | - | - | 346,979,853.68 | -100% | 336,000,250.00 | -100% | |||
| Business Support Loan/ACL-Corporate | - | - | 3,174,761.85 | -100% | 0% | ||||
| Sub-Total B 2 B Leases | 0 | 0 | 0 | 0 | 0 | 353,421,385.27 | -100.00% | 336,000,250.00 | -100% |
| - | 0% | ||||||||
| B2C - Products | 109,506,793.34 | 10,623,000.00 | 120,129,793.34 | - | 120,129,793.34 | 1,165,189,400.40 | -90% | 214,295,863.40 | -44% |
| B2B - Products | - | - | - | - | - | 353,421,385.27 | -100% | 336,000,250.00 | -100% |
| TOTAL FOR PORT HARCOURT | 109,506,793.34 | 10,623,000.00 | 120,129,793.34 | 0 | 120,129,793.34 | 1,518,610,785.67 | -92.09% | 550,296,113.40 | -78% |
| 0% | 0% | ||||||||
| Cash Backed loan / Credit Card | - | - | - | 32,979,553.38 | -100% | 0 | 0% | ||
| 0% | 0% | ||||||||
| Total Risk Assets & Cash-Backed Loan | 109,506,793.34 | 10,623,000.00 | 120,129,793.34 | 0 | 120,129,793.34 | 1,551,590,339.05 | -92.26% | 550,296,113.40 | -78% |
| ROSABON FINANCIAL SERVICES LTD- RISK ASSET GENERATION REPORT | ANAMBRA BRANCH PERFORMANCE | ||||||||
| WEEK | WEEK 17 | Ending | PERFORMANCE YEAR TO DATE 2023 |
||||||
| BAL B/F | ACTUAL PERFOMANCE | PERFORMANCE YEAR TO DATE 2023 | PRE-LIQUIDATED LOANS 2022 | NET PERFORMANCE 2023 | CUMULATIVE 2022 BUDGET | BUDGET VARIANCE YEAR TO DATE 2024 |
PERFORMANCE YEAR TO DATE 2023 |
% CHANGE BETWEEN 2024 Vs 2023 | |
| ACTUAL PERFOMANCE | YEAR TO DATE | PRE-LIQUIDATED LOANS | YEAR TO DATE | ||||||
| 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | 2024 Vs 2023 | ||
| PRODUCTS | |||||||||
| Personal Loan / Public Sector Employee Loan / Group Loan | 10,747,000.00 | 889,000.00 | 11,636,000.00 | 11,636,000.00 | 0% | 9,968,000.00 | 17% | ||
| Consumer Leases | - | - | 0% | 0% | |||||
| Asset Cash Loan | - | - | 0% | 0% | |||||
| SPBS | - | - | 0% | 0% | |||||
| Sub-Total Port Harcourt | 10,747,000.00 | 889,000.00 | 11,636,000.00 | 0 | 11,636,000.00 | 0 | 0.00% | 9,968,000.00 | 17% |
| Corporate Leases | - | - | 0% | 0% | |||||
| Operating Leases | - | - | 0% | 0% | |||||
| Business Support Loan/ACL-Corporate | - | - | 0% | 0% | |||||
| Sub-Total B 2 B Leases | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% | 0 | 0% |
| - | 0% | ||||||||
| B2C - Products | 10,747,000.00 | 889,000.00 | 11,636,000.00 | - | 11,636,000.00 | - | 0% | 9,968,000.00 | 17% |
| B2B - Products | - | - | - | - | - | - | 0% | - | 0% |
| TOTAL FOR ANAMBRA | 10,747,000.00 | 889,000.00 | 11,636,000.00 | 0 | 11,636,000.00 | 0 | 0.00% | 9,968,000.00 | 17% |
| 0% | 0% | ||||||||
| Cash Backed loan / Credit Card | 0% | 0% | |||||||
| 0% | 0% | ||||||||
| Total Risk Assets & Cash-Backed Loan | 10,747,000.00 | 889,000.00 | 11,636,000.00 | 0 | 11,636,000.00 | 0 | 0.00% | 9,968,000.00 | 17% |
| ROSABON FINANCIAL SERVICES LTD- RISK ASSET GENERATION REPORT | OYO BRANCH PERFORMANCE | ||||||||
| WEEK | ACTUAL PERFOMANCE | Ending | PERFORMANCE YEAR TO DATE 2023 |
||||||
| BAL B/F | ACTUAL PERFOMANCE | PERFORMANCE YEAR TO DATE 2023 | PRE-LIQUIDATED LOANS 2022 | NET PERFORMANCE 2023 | CUMULATIVE 2024 BUDGET | BUDGET VARIANCE YEAR TO DATE 2024 |
PERFORMANCE YEAR TO DATE 2023 |
% CHANGE BETWEEN 2024 Vs 2023 | |
| ACTUAL PERFOMANCE | YEAR TO DATE | PRE-LIQUIDATED LOANS | YEAR TO DATE | ||||||
| 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | 2024 Vs 2023 | ||
| PRODUCTS | |||||||||
| Personal Loan / Public Sector Employee Loan / Group Loan | 10,630,000.00 | 4,370,000.00 | 15,000,000.00 | 15,000,000.00 | 0% | 10,865,000.00 | 38% | ||
| Consumer Leases | - | 0% | 0% | ||||||
| Asset Cash Loan | - | 0% | 0% | ||||||
| SPBS | - | 0% | 0% | ||||||
| Sub-Total Port Harcourt | 10,630,000.00 | 4,370,000.00 | 15,000,000.00 | 0 | 15,000,000.00 | 0 | 0.00% | 10,865,000.00 | 38% |
| Corporate Leases | - | 0% | 0% | ||||||
| Operating Leases | - | 0% | 0% | ||||||
| Business Support Loan/ACL-Corporate | - | 0% | 0% | ||||||
| Sub-Total B 2 B Leases | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% | 0 | 0% |
| - | 0% | ||||||||
| B2C - Products | 10,630,000.00 | 4,370,000.00 | 15,000,000.00 | - | 15,000,000.00 | - | 0% | 10,865,000.00 | 38% |
| B2B - Products | - | - | - | - | - | - | 0% | - | 0% |
| TOTAL FOR OYO | 10,630,000.00 | 4,370,000.00 | 15,000,000.00 | 0 | 15,000,000.00 | 0 | 0.00% | 10,865,000.00 | 38% |
| 0% | 0% | ||||||||
| Cash Backed loan / Credit Card | 0% | 0 | 0% | ||||||
| 0% | 0% | ||||||||
| Total Risk Assets & Cash-Backed Loan | 10,630,000.00 | 4,370,000.00 | 15,000,000.00 | 0 | 15,000,000.00 | 0 | 0.00% | 10,865,000.00 | 38% |
TREASURY MANAGEMENT REPORT
| ROSABON FINANCIAL SERVICES | LIABILITY GENERATION REPORT | ||||||||
| WEEK | 17 | Ending | 27-Apr-24 | ||||||
| LAGOS | BAL B/F | INFLOW | OUTFLOW | NET FLOW | CUM BUDGET YEAR TO DATE |
PERFORMANCE YEAR TO DATE |
PERFORMANCE YEAR TO DATE |
BUDGET VARIANCE YEAR TO DATE |
% CHANGE BETWEEN 2024 & 2023 (ACTUAL) |
| 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | 2024 | |||
| TENOR FUND | 689,520,732.66 | 37,920,000.00 | 8,905,885.16 | 29,014,114.84 | 1,147,432,616.12 | 718,534,847.50 | 9,552,281.88 | -428,897,768.62 | 7422% |
| R-WIN | -10,449,055.96 | 280,000.00 | 925,720.86 | -645,720.86 | 24,413,459.92 | -11,094,776.82 | -10,543,524.81 | -35,508,236.74 | 5% |
| REAP PRODUCT | 5,343,827.74 | 820,000.00 | 108,450.51 | 711,549.49 | 48,826,919.84 | 6,055,377.23 | -1,230,522.96 | -42,771,542.61 | -592% |
| RBIP | - | ||||||||
| TOTAL | 684,415,504.44 | 39,020,000.00 | 9,940,056.53 | 29,079,943.47 | 1,220,672,995.88 | 713,495,447.91 | -2,221,765.89 | -507,177,547.97 | -32214% |
| ABUJA | |||||||||
| TENOR FUND | 77,689,486.43 | 11,262,179.57 | -11,262,179.57 | 638,306,885.79 | 66,427,306.86 | -16,896,586.01 | -571,879,578.93 | -493% | |
| R-WIN | - | - | 13,580,997.57 | - | - | -13,580,997.57 | - | ||
| REAP PRODUCT | -2,043,247.61 | - | 27,161,995.14 | -2,043,247.61 | -351,683.61 | -29,205,242.75 | 481% | ||
| TOTAL | 75,646,238.82 | - | 11,262,179.57 | -11,262,179.57 | 679,049,878.50 | 64,384,059.25 | -17,248,269.62 | -614,665,819.25 | -473% |
| WARRI | |||||||||
| TENOR FUND | - | - | - | - | - | 0% | |||
| R-WIN | - | - | - | - | - | - | 0% | ||
| REAP PRODUCT | - | - | - | - | - | - | 0% | ||
| TOTAL | - | - | - | - | - | - | - | 0% | |
| TOTAL | 760,061,743.26 | 39,020,000.00 | 21,202,236.10 | 17,817,763.90 | 1,899,722,874.38 | 777,879,507.16 | -19,470,035.51 | - | -4095% |
| PORT-HARCOURT | |||||||||
| WEEK 17 | |||||||||
| TENOR FUND | 30,850,204.90 | 38,506,000.00 | 9,537,541.60 | 28,968,458.40 | 747,224,330.59 | 59,818,663.30 | 354,265,914.17 | -687,405,667.29 | -83% |
| R-WIN | -1,903,457.29 | - | 15,898,390.01 | -1,903,457.29 | 535,000.00 | -17,801,847.30 | -456% | ||
| REAP PRODUCT | 962,608.63 | - | 31,796,780.03 | 962,608.63 | 788,705.27 | -30,834,171.40 | 22% | ||
| 29,909,356.24 | 38,506,000.00 | 9,537,541.60 | 28,968,458.40 | 794,919,500.63 | 58,877,814.64 | 355,589,619.44 | -736,041,685.99 | -83% | |
| CONSOLIDATED | BAL B/F | INFLOW | OUTFLOW | NET FLOW | CUM BUDGET YEAR TO DATE |
PERFORMANCE YEAR TO DATE |
PERFORMANCE YEAR TO DATE |
BUDGET VARIANCE YEAR TO DATE |
% CHANGE BETWEEN 2023 & 2022 (ACTUAL) |
| TENOR FUND | 798,060,423.99 | 76,426,000.00 | 29,705,606.33 | 46,720,393.67 | 2,532,963,832.50 | 844,780,817.66 | 346,921,610.04 | -1,688,183,014.84 | 144% |
| R-WIN | -12,352,513.25 | 280,000.00 | 925,720.86 | -645,720.86 | 53,892,847.50 | -12,998,234.11 | -10,008,524.81 | -66,891,081.61 | 30% |
| REAP PRODUCT | 4,263,188.76 | 820,000.00 | 108,450.51 | 711,549.49 | 107,785,695.00 | 4,974,738.25 | -793,501.30 | -102,810,956.75 | -727% |
| RBIP | - | - | - | 0% | |||||
| 789,971,099.50 | 77,526,000.00 | 30,739,777.70 | 46,786,222.30 | 2,694,642,375.00 | 836,757,321.80 | 336,119,583.93 | -1,857,885,053.20 | 149% |
Meeting Adjournment
Sophia Dagi seconded by Faith Ozegbe adjourned the meeting