Efforts to overhaul the status quo of International Bank for Commerce (IBC) to restore its fading glory are in high gears, barely few months after a new management took charge, after it was bought by the Bank PHE of Nigeria.

The new managing director and chief executive officer of IBC confirmed this to stakeholders on Friday at the Sunbeach Hotel and Resort, where several dignitaries, notably the speaker of the National Assembly, Fatoumatta Jahumpa-Ceesay, and the secretary of state for Finance and Economic Affairs, Musa Gibril Bala Gaye, were hosted to a cocktail. Prominent Gambian businessmen and representatives of various companies also attended the cocktail.

IBC was believed to have been losing ground in the country’s looming competitive banking industry, characterised by a wide range of aggressive and innovative services in face growing customers and increasing private sector investment, including medium sized-entreprises.

In a speech delivered at the cocktail, Chuks Chibundu, the managing director and CEO of the bank, observed that the support for IBC has been growing despite all odds; despite the capacity constraints.

"We are going to revamp IBC and we are going to make it something that all of you will be proud of," he said.

According to him, IBC still remains the "prime bank" in The Gambia, adding it will be repositioned to second leading bank in the country is the next 9 to 10 months. "This is a new dawn. The changes are going to start and in fact they have started," he added.

"You work with us and we work with you. This is going to be a partnership. And the partnership is this: I know what your needs are and we are always going to be there for you," said Mr Chibundu.

The IBC new CEO said the bank will be the most innovative in terms of IT, noting that the brand will remain the same despite change of ownership. However, he expressed hope that it will be rebranded in their course of transformation.