Bond Bank Private Placement

In 2004, the Central Bank of Nigeria (CBN) directed all banks to increase their capital base to N25 billion (from N2 billion). The move was meant to encourage consolidation within the financial services industry. At the time of the announcement, Bond Bank was the youngest bank in the industry.

The bank chose to raise funds through a private placement as the first step towards shoring up its capital base and to serve as leverage in subsequent merger talks. For the private placement, the bank required a singular theme/concept to drive its direct marketing. (Regulatory rules precluded the marketing of private placements via mass media).

In developing a marketing concept for Bond Bank, we considered the bank’s core message to investors: “Success & survival are not about size or age, but about staying power”.

Staying power for Bond Bank implied: Resoluteness, doggedness, indomitable spirit, will power, resourcefulness, determination, vision, ideas, innovativeness and creativity. Interestingly, these were all key traits of ants. The image of an ant was subsequently used for the bank’s private placement marketing and the theme, “The Courage to be” was employed. Marketing materials were developed using the brand image and theme (including the memorandum, FAQs, press statements, adverts and multimedia presentations).


About Bond Bank
Bond Bank was incorporated on August 20, 2002. The Bank obtained its banking license on October 31, 2002 and opened for business the very next day. It is now a member of the Skye Bank Group.