Business News Thu, 23 Aug 2018

GN Bank is poised at building a stronger, long-lasting Ghanaian brand – Dr Nduom

With the takeover of two Ghanaian owned banks last year, the collapse of five more Ghanaian owned banks and their subsequent consolidation into one bank just a couple of weeks ago, there have been lots of speculations and suspicious as to whether GN Bank will be able to meet the minimum capital requirement of GH¢400m as directed by the Bank of Ghana before the December 2018 deadline.

The Chairman of the Board of Directors of GN Bank, Dr. Papa Kwesi Nduom however, has assured the bank’s customers and Ghanaians at large that GN Bank has taken the steps necessary to continue building the Ghanaian brand to become stronger, long-lasting and to fulfil its mission of bringing banking to the doorstep of every Ghanaian living everywhere in the country.

Hosting the 'Made In Here Series' on ATV, Dr Nduom revealed that GN Bank on August 10, 2018, submitted its roadmap and the steps it’s taken to achieve and exceed the minimum capital requirement of GHC 400 million and awaiting the confirmation of Bank of Ghana after it has reviewed the roadmap and confirmed that the bank has crossed the GHC400m mark.

“Not stopping there, GN bank will continue to raise funds to reach its target of ghc600m by December 2018.GN Bank has taken notes of any concerns raised by the bank of Ghana to be the cleanest standing bank in Ghana”.

Dr. Nduom who has been speaking on the need to support and patronise Ghanaian owned businesses said, a nation which does not produce becomes a consumer who is not able to create wealth for its people.

“Made In here series is to drive home the point that we cannot sit and look on being consumers whilst other nations are manufacturing and producing for us to buy. If you don’t produce you become a consumer and you are not able to create wealth. You don’t sell to other people, not even yourself, you are not providing jobs. You become a poor nation”.

He continued that it is prudent to “tell the story of GN Bank, a made In here (Ghana) bank and its beginnings so people will know the story and be guided by it that indeed it’s possible to do the right thing, start small, grow it with the right attitude, with some discipline and have it become something significant”.

He took the opportunity to thank the over 1.2 million customers of GN Bank for the opportunity given it to be their banker and assured them of innovations and technology that will improve the services of the bank as well as making banking safe, sound and convenient and truly be the people’s bank.

Source: Kukua Snead-Michaels