Subject: Executive Summary - Business Development Updates
Dear Layl Fernandez,
During the past month, FFB Bank has seen a 7% increase in new customer acquisition, largely due to our recent marketing efforts. We've also managed to expand our SME loan portfolio by 12%, surpassing our initial target of 10%. However, there has been a slight decrease in our mortgage loans, which we aim to address through targeted promotional campaigns.
Our partnership with the local chamber of commerce has proven to be beneficial, bringing in a 5% increase in business accounts. We are exploring similar partnerships with other local organizations.
The digital banking initiative is progressing well, with a 15% increase in the number of digital transactions. We are on track to launch our new mobile banking app next quarter, which should further boost our digital banking numbers.
Overall, FFB Bank is on a positive growth trajectory. However, we need to focus on improving our mortgage loan numbers and continue pushing our digital banking initiative.
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