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MD'S
Message Christmas Message
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Frank Griffiths
Managing Director |
As
we draw close to the end of the year, it s my
pleasure to welcome you to our fourth edition
of Newsflash. Reflecting back on the events and
achievements of 2006, I must say it has been a
milestone in the history of Fina Bank.
The Bank has undergone a facelift,
with a bold new corporate identity. Our logo represents
our Vision, Mission and Values, which are intrinsic
to our continued success. Apart from our traditional
banking services, we have also achieved tremendous
growth in our partnerships with the SME community.
Our banking network has expanded
with the introduction of new Fina Cash AMs to
allow our customers flexible access to cash. |
Our Mombasa branch
has continued to grow from strength to strength celebrating
its 1000 th customer in July. The Bank has introduced
a Customer Query System and Cheque-book Ordering System
to address growing customer needs. The adoption of our
new treasury software has replaced most of the manual
processes, resulting in cost savings and efficiency.
As part of our values which embrace
the wider community, we are actively involved in the
implementation of various community and self-help projects,
and share our successes with the less fortunate in society.
I wish you a Merry Christmas and a
Prosperous New year.
Fina Cash Expansion
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Madhvi Shah
Acting Head Of Consumer
Business |
In
our promise to expand our service base, FINA bank
has installed a new Fina cash ATM at Caltex Petrol
Station situated at the Likoni Rd, Enterprise
junction. This has been necessitated by the need
to provide convenience for our growing clientele
in the area and our commitment to remain a service
leader in our market niche.
This state of the art Teller
machine comes along with flexible banking services
like cash dispensing, balance enquiries, internal
transfers, mini statements and many more.
To get rid of the hassles of
cash handling and various challenges coming along
with cash salary payments, why not sign up for
the Fina payroll; the facility for handling employee
salaries.You have the benefit of a free ATM card
which can also access a total of 109 Pesa point
ATM’s countrywide.
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Additionally those signed up for the Fina
cash card will benefit on discounts with our
various participating outlets namely: Nairobi
Sports House Ltd, Uniform Distributors Ltd,
Text Book Centre Ltd, Toyworld, Holiday Bazaar
Ltd, Zucchini Green Grocers Ltd, White Rose
Drycleaners Ltd in Nairobi and Tonlect Enterprises
Ltd, Platinum Trading Co. Ltd, Qoolpoint Services
Ltd, Vijay Optica Toyshack, Mombasa Sports House
in Mombasa.
The requirement to access such services is
as simple as just having a salary account for
your employee. This account has no minimum or
opening balance and is operated through the
ATM.
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Ms
Purity Wanjie-Branch Manager ,Industrial Area
branch Manager and Mr.Andrew Karuku ,Property
and Procurement Manager at the official launch
of our ATM in Industrial Branch
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Fina Partners FMO
The
Netherlands Development Finance Company (FMO) is providing
Fina Bank with a EUR 3 million local currency line of
support for the Banks growing SME portfolio. The support
is in the form of long-term funding and aids Fina Banks
successful transformation into a regional Small and
Medium Enterprises (SME) focused bank.
Fina Bank offers Fina
Business Development Solutions that are designed to
finance SME business growth. Fina Bank is one of the
first banks to have a distinct SME focus in Kenya and
therefore plays an important role in developing the
financial institutions focussing on this growing and
important business sector.
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Mr.
Ruurd Brouwer, Netherlands Development Finance
Co (FMO) Director for Africa with Mr. Frank Griffiths,
Fina BanManaging Director. The two signed a three
million Euro line of support. |
Frank Griffiths,
MD of Fina Bank commented, “We are very
pleased to be signing this agreement with FMO
which will allow us to provide longer term loans
to our growing number of SME customers".
Expanding a
business is not easy but spreading the period
of repayment to 3 years or more where appropriate
will be greatly appreciated by our customers.”
Mr. Griffiths
continued, “Our objective as a bank is to
deliver appropriate financial products and services
to meet the needs of SMEs.
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To this end we have created The Fina
Business Development Solutions products which include
working capital loans, asset finance,insuarance premium
financing and trade finance products.
“We have experienced growth in our new SME portfolio
with 65% of the SME customers being new to FINA Bank
and 44% of them having had no prior credit history.
The FMO support will help us achieve our country-wide
developmental goal of creating the conditions in which
new and existing small businesses can grow and prosper"
The customer businesses
already on board range from hairdressers, printers,
boutiques, furniture manufacturers,Mechanics to Mobile
accessories shops and out of these 40% are women owned
businesses.
Jared Aimba, Finas
Head of Business Banking said, “We have a dedicated
SME team to assist our clients on-site in completing
the application package and to consult on the best structure
for their financing needs. Aimba continued, “To
enhance FINA Banks expertise in SME lending we are building
upon technical assistance from ShoreBank International
Ltd., a consulting company with a worldwide experience
in developmental finance and lending to undercapitalized
communities. FMOs support and vote of confidence in
Fina Bank will therefore help us provide the best support
and advice to our SME customers.”
This is FMOs first
MASSIF Fund local currency loan in Kenya. The MASSIF
Fund provides venture capital and loans in local currency
to banks in developing countries in order for them to
serve local micro and small businesses and consumers
more effectively. FMO will also support Fina Bank with
a technical assistance program.
The Netherlands Development
Finance Company (FMO) supports the private sector in
developing countries and emerging markets worldwide
with loans, participation, guarantees and other investment
promotion activities with a goal to contribute to the
structural and sustainable economic growth.
Mr Griffiths concluded,
“FMO are a leading development finance institution
and we are proud to be a partner of theirs in Kenya.
Their support will help us achieve our goal of contributing
to the economic growth of Kenya through successfully
banking SMEs. As Fina grows in the region we would hope
to replicate this facility in Rwanda and other countries.”
The Small businesses
we have already supported range from hairdressers, printers,
Mechanics, furniture manufacturers and boutiques to
transport providers. Out of these 40% are women owned
businesses.
My Internship at Fina Bank
Norah Koigi |
Two
days after placing an application with Fina
Bank, I received a reply from Fina’s Head
of Treasury, Miss Sophie Vernet, offering me
an internship at the bank’s Treasury Department.
The first thing I noticed about the environmentat
Fina Bank was that it was a multiracial 1 multi-ethnic,
multi-cultural society with no discrimination
on any grounds whatsoever. There was ease of
integration and all the staff I encountered
were warm and happy to have me.
At Fina, I learnt the major treasury operations
including; drafting a market report, quoting
exchange rates to corporate clients and research
on currency news.
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I also learnt a lot about foreign exchange
rate determinants, forex derivatives like currency spots,
forwards and swaps, and the implementation of fiscal
policy by the Central Bank of Kenya. This is relevant
to my field of study, which is Actuarial Science.
The Treasury Department
is relatively small, but highly specialized and this
provided me with the perfect opportunity to gain some
hands-on experience working with highly skilled and
efficient staff. This made a lasting impression and
made my first working experience an unforgettable one.
Towards the end of
my internship classes at the University resumed, and
I thought this would be the end of my internship. But,
Miss Vernet asked me to stay on part-time so I could
have one foot in school and the other in the corporate
world. This is a great opportunity for me to put to
practical use what I learn in school, especially in
my last year of study. My working hours are very flexible
and fit in perfectly with my school schedule. I am very
thankful to Fina Bank for giving me this opportunity
to put my skills to good use.
New Treasury Software
Module
Antony Oduor
Manager, Central
Operations
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Central
operations are pleased to announce the successful
installation and implementation of the new Treasury
software that went live effective 31.10.2006.
This milestone
has been achieved through concerted efforts of
Treasury Front Office, Treasury Back Office and
Technical Service Department who burnt the midnight
oil to make the transition seamless.
In line with
our business strategy to automate all manual processes
and procedures, Treasury Module Software is well
packaged and fully integrated to achieve international
standards of bridging and complimenting Treasury
Front office and Back office process flows. The
key benefit realization of the module are enumerated
below
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Report Generation-Statutory
reports for our regulatory authorities is now an automated
process (Accurate reports and minimal errors).
Manual Processes
- Manual processes and intervention have been replaced
by highly automated process of settlement of inter bank
deals , money market deals, e.t.c
Economies of
scale - Efficiency has gone a notch higher and
the back office team are able to complete daily transactions
early enough — strategically giving room to accommodate
more business in the near future.
Trade Finace
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Regina Ngyema |
You
area trequent importer (drawee) and trading
on usance documentary collection terms. The
supplier now demands a guaranteed payment on
any further documents against acceptance. Approach
Fina bank for bill avalisation facility for
both small and medium business.
This facility guarantees payment on the due
date, by substituting the risk of the importer
with that of the Bank. Alternatively, we can
issue a Stand by Letter of credit to cover non-payment
risk on the side of importer if the supplier
insists on letters of credit.
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A Day With The Chinese
Community
Betty Syanda |
In
support with community marketing Fina bank sponsored
the First Table Tennis Chinese tournament that
was held in the Chinese Embassy on 26th of November
2006.
With the perfect
opportunity to gain some hands-on experience working
with highly skilled and efficient staff.
the Chinese community in the country has been
on an increase and Fina bank has been given the
opportunity to feature in their Bi monthly magazine
which is ,
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distributed to the existing business
community and also the other business men in China that
are to invest in Kenya.The prizes won in the tournament
were trophies and medals sponsored by Fina Bank, T-shirts,
wine among other prizes.
HIV AIDS DAY
Priscilla
Nduta |
As part of our annual HIV
day, we at Fina Bank have partnered with Zinduka
Afrika to sponsor a VCT centre by the name 'Chanuka
Uishi'.
Our football team will also
compete against other teams for the HIV Trophy.
This event was held at the Railway Training —
Institute in South B on the 25th November 2006.We
thank all our staff for the support and participation
during this eventful year and look forward to
the next Year.
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Business Risks
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 Have
you ever sat back and examined where your business
is at risk? I’m not talking about fire and
theft, (although that is also something you should
be aware of) I’m referring to other areas
of your business.For example |
 Are
you dependent on a very small number of customers? What
happens if one or two take their business elsewhere
Is
all your banking with one Bank? What if you have a disagreement
and one day you suddenly need a quick overdraft? Are
you confident you could get it?
If
you employ staff, are you reliant on one person who
really is your right hand man. What would happen if
he or she left?
Take some time out to examine where
you and your business are exposed. What can you do now
to mitigate that risk?
Be wise
There is a saying that being a success in business is
about being WISE.
Watch-
watch what is going on both inside and outside of your
business. If you dont you may get caught out!
Innovate-
always try and think of new ways to sell and deliver
your product or service. Don’t accept that the
way you are doing it now is necessarily the best. This
goes for every other process in your business as well.
Systematize
- find ways of streamlining your processes to the point
that they can work almost automatically. A great example
of this is the use of auto responders for your e-mail.
Can you put information your customers regular ask for
on an auto responder, leaving you to do more fruitful
work?
Enjoy-
perhaps the most important part of being in business.
If you cant enjoy the joys and tribulations of being
self- employed why bother?
Are you being WISE in your business?
New Website Launched
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Check
out the new-look Fina Bank Website, you will notice
many changes in the site, the site is nowup to
date and user friendly meaning its easier for
you to find information about Fina Bank range
of Fina Products.
We have added a daily Forex Bulletin that gives
you access to the daily developments in the local
and international Forex markets. You can also
easily find the location of our ATMs.
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Patrick
Kinyua |
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Just
Sit back and give this piece a thought!
Just a Smile, Just a smile, not that much to ask,and
if your heart, has wings its a simple little task
You might feel it in your fingers maybe tingling
in your toes |
then soon you'll feel it spreading there! just beneath
your nose
Your eyes begin o twinkle,your cheeks turn rosy red
with happy thoughts, or warmth or love all mingling
in your head
Then you realize what you have done, you cant change
it now
and you see your smile reflected back as my own begins
As yours, it starts slow,just a slight wrinkle, but
soon its gaining steam,my eyes alight with your caring
warmth though they seem hazy, as in dream
As mine still grows, yours broadens too, soon both are
stretching near a mile
The world has changed, all by your act You'd say ‘It
was nothing' Just a smile
We wish you
a very Merry Christmas and a very Happy Profitable New
Year
The Fina Mombasa Team
Martin Fay
Head Banking Operations
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Is
it a bird, is it a plane, is it a local boda boda
operator? No its merely Fina Banks Head of Banking
Operations, Mr Martin Fay, swapping back to two
wheels and beating the traffic when commuting
to and fro to the office!
Mr Martin, who
used to motorcycle to work in his earlier days
in and around London, says: I can now leave a
little later in the morning and still save myself
30 minutes+ a day otherwise being stuck in jams’.
He adds,"Although you definitely need to
keep your wits about you (matatus tend to be the
biggest challenge on the Nairobi highways) —
its a very economical mode of transport - and
a lot of fun. Oh, and yes, he does wear a crash
helmet! |
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