Good afternoon, ladies and gentlemen. Yes, after your graduation you will be officially called ladies and gentlemen and expected to act as one in the world of careers.
Congratulations on passing college. I hope you really enjoyed your stay in college. It is a period to look back and smile about when you grow older.
I feel that somehow I haven’t earned the right to stand here and talk to you about a career in banking and what I have learned. You see, I have only been a banker for seven (7) years. My boss there can talk to you more on banking experience. Especially on developmental banking. Most of you may only know of commercial banks, you see them everywhere. Banks are channels for people and corporations to save money, invest money and borrow money.
My bank is into developmental banking. The name itself says it. Development Bank of the ____________. Our primary mandate is to provide for the medium and long-term financing needs of enterprises, with emphasis on small and medium-scale industries, particularly in the countryside. This means we give out loans to small and medium-scale businesses to enable them to meet their financial needs. Short term loans are loans which will be repaid within one to three years. It is used to buy inventories and fund receivables. While long term loans are loans that will be repaid more than three years. They are used to acquire capital assets. The common capital assets are buildings and machineries. They are used to produce products and services. Sometimes loans can be as long as ten (10) to fifteen(15) years. They are reserved for ventures that are highly developmental like construction of water system, rural electrification, construction of schools, hospitals and ports, building of roads and bridges as well as acquisition of ships.
You might have heard of the RORO system in the country. It stands for roll on and roll off. It is an efficient way of getting cargoes as well...