Bank customers urged to be truthful in their dealings

Applicants for loans from banks have been advised to be truthful by providing accurate information that would qualify them for the loans.

Mr Opoku Kusi, Acting General Manager of the Kumawuman Rural Bank, who made the appeal, said there was no way banks would deny customers who were trustworthy, credit facilities to expand their businesses.

Speaking to the Ghana News Agency in Kumasi in reaction to allegations that, the some banks were refusing to give loans to their customers, Mr Kusi pointed out that banks would not just give out money to people without proper background checks.

He said banks were there to support businesses and individuals with the needed financial assistance to carry out their activities.

In so doing, it was important for the banks to assess the prospective borrower to ensure that he would be able to pay back the money together with the interest at the agreed period.

Mr Kusi pointed out that the banks were working for profit and it was important to ensure that every transaction brought in the needed profit for the owners.

He urged farmers and corporate organizations who wanted to seek financial support from the bank to be abreast with the processes and requirements to make it easy for them to get their loans on time.