Intercontinental Bank has unveiled a new banking service that will take wealth management to another level in the country. 

The bank recently created a wealth management group that is equipped to provide upscale and world class services in the area of investment management, financial planning, retirement planning and estate planning for its customers.

According to the bank, the new concept involves a holistic and comprehensive approach to helping its clients achieve their goals in life. It is structured to give them the confidence to make sound financial decisions, freedom to live life the way they want and a clear roadmap for their financial future.

 Already the bank has set up a flagship wealth management ‘happy centre’ and private banking suite in Ikoyi, Lagos to cater to its exclusive clientele. The major business of the wealth management group according to the bank was to help clients create, protect and transfer wealth to their beneficiaries.

The wealth management group is one of the bank’s new business initiatives to deepen its private banking business. Intercontinental Bank has set its sights on being a world class financial institution and among the world’s ten leading banks.

Analysts said the bank’s track record of superlative performance over the years puts it in good stead to achieve its vision. The bank was ranked 355 in the world by the Financial Times of London, making it the only Nigerian bank in the world’s top 500 banks and the second fastest growing in the world.

The bank’s group chief executive, Dr. Erastus  B .O Akingbola said the bank is poised to surpass this record, noting: “We are encouraged by our drive, vision and capacity to double, year on year, all the performance indicators of the bank. We intend to beat our record and we shall. “Intercontinental bank posted a superlative profit before tax of N22.9 billion for the nine months ended November 30, 2007.

This represents about 178 per cent increase over the N12.8 billion posted for the corresponding period of last year. It also recorded impressive 169 per cent growth in gross revenue which stood at N99.6 billion against N59.1billion in the corresponding period of 2006. Its total asset and contingent as at the third quarter stood at over N1.1 trillion representing about 188 per cent increase compared to the N606 million recorded in the previous year.