ABSTRACT
The banking industry has witnessed series of changes more than any other sector of the
economy. The industry, in the last ten to twelve years, had undergone what may be
described as “rough weather” through policy inconsistencies, policy shifts and policy
reversals, thereby making the familiar terrain to become hostile. The industry is
increasingly becoming more dynamic which requires the operators being proactive to
enable them cope effectively and efficiently. In the present day banking industry,
competition is fiercer ever than before despite the drastic reduction in the number of
active participants. Most of the Money Market Instruments now in vogue in the industry
are targeted at high net worth individuals irrespective of whether references are taken on
them or not.
Empirical evidence has shown that new generation banks in Nigeria render
services to both illiterate and literate customers. The strategy for the new generation
banks is to target the educated and sophisticated customers, who could be individuals or
corporate bodies. It is noted that the new generation banks are more proactive in the
marketing strategies than the first generation banks. This study is aimed at appraising
the marketing strategies of the new generation banks in Nigeria, with special references
to four duly selected members. In this respect, the following new generation banks,
which include: Intercontinental Bank Plc; City Express Bank Ltd; Zenith International
Bank Ltd and Chartered Bank Plc will be carefully studies and analyzed. The limitation
to these four banks is as a result of time and financial constraint on the part of the
researcher.
