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General News Mon, 1 Sep 2008

Ghana Commercial bank asks for more business

Takoradi, Sept. 1, GNA - Mr Lawrence Adu-Mante, Managing Director, Ghana Commercial Bank (GCB), has appealed to the government to direct more businesses through GCB to build capacity that will enhance investment. "We have ventured in the areas of the country that our competitors would not and do not want to go and for this community service, we deserve government's consideration and support," he said. Mr Adu-Mante was speaking at the commissioning of the Takoradi main branch of the GCB in Takoradi on Friday. He noted that the economy has witnessed enormous growth, adding "recently, the oil-find has thrown to us challenges as well as opportunities". He said one's survival in these dynamic developments is to strategise and adopt the right measure to win a greater part of the business. He added that GCB has been working diligently to ensure that it controls the bulk of business, and that this is reflected in the special products that the bank has been introducing both electronic and card based.

"Riding on the back of an efficient Information Technology System, GCB will bring its expertise in oil financing to bear on businesses in Takoradi and beyond," he said Mr Adu-Mante pointed out that with the shifting of business concerns to the oil region, there is the need for international banking standards in services and that GCB is well poised for this. He assured the people of Takoradi of the bank's expedite and excellent services, which can be compared to international standards. Dr Anthony Akoto-Osei, the Deputy Minister of Finance and Economic Planning in a speech read on behalf of Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning said, since the discovery of oil in the Western Region, companies with foresight have started their strategic move to position themselves for an evolving business opportunities. He said GCB's role in the development of the nation and the economy as a whole was very much appreciated. He said it is anticipated that within the next two to three years, Tullow Oil Company would spend close to three billion Ghana cedis in the region.

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"If GCB should get about a third of this, then we will be doing well," he added. The government, he said identifying the importance of the banking and the finance sector has facilitated the establishment of the first credit referencing bureau in the country, to ensure the sustenance of the credit cycle of banks. "This will certainly ensure the growth of the banks, and as such the financial sector," he said. Dr Akoto-Osei said in recognition and as a reward for this social service of venturing where others fear to tread, government will continue channelling business through GCB. He urged GCB to re-examine it position of extending branches outside the country. Mr E. K. A. Ntreah, the Takoradi Area Manager, GCB, expressed appreciation to the board of directors and the management of the banks for the new office.

1 Sept. 08

Source: GNA
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