Board Of Directors  
Our Vision & Mission  
 
   
 
Media Campaign Commences
The Bank has commenced its media campaign in the press, radio and television with the theme, ‘The Good Neighbor’.

This theme underscores the objectives of the Bank’s Vision (To be the world-class bank next door and at your fingertips) and Mission (To build a global retail brand by delivering with passion innovative financial solutions in every neighborhood) statements as well as the pay-off line (your bank next door) of the Bank.
Spring Bank Plc receives approval to Commence MoneyGram International Money Transfer Service
Spring Bank Plc has been appointed a Super Agent for MoneyGram Inc in Nigeria. Approval to engage in this partnership was recently conveyed by the Central Bank of Nigeria (CBN). THE service should launch soon across the over 180 branches of the Bank well spread all through Nigeria.
Listing of Bank’s Shares on Nigerian Stock Exchange

The Bank has obtained approval from the quotations Committee of the Nigerian Stock Exchange to list the shares of the Bank.

However, there appears to be a need for a restructuring of the Bank’s Capital Base. Resulting from the merger exercise, the core capital base of the Bank stood at N21bn made up of over 42 billion units of 50kobo each. From all indications, the cost of managing this number of shares in terms of dividend payouts, annual reports and other shareholders related logistics would be enormous and uneconomical for the Bank.

The restructuring of the Bank’s Capital Base is aimed at achieving the following amongst others;

Effective Management of the share price on the floor of the Stock Exchange;
Improved ratios for the Bank thereby creating stability for shareholder’s value;
A higher listed share price will aid positive perception among peers;
A compact share capital will enable the Bank pay out good dividend to shareholders as well as give enough room for future bonus issue;
The Capital Restructuring provides capacity for the Bank to approach the market in the future for fresh Offers for Subscription.
The process has already commenced. At the Extra-ordinary General Meeting held on Friday 11th August 2006, shareholders agreed that the 42,111,013,986 issued shares of 50 kobo each of the Bank be consolidated into 5,236,876,748 ordinary shares of N1.00 each. The culmination of the process would be the Listing of the Restructured Shares on the floor of the Nigeria Stock Exchange on the 14th of September 2006.