Barclays Bank to open more branches

Accra, July 25, GNA - Barclays Bank Ghana Limited is set to double its branches to 64 from the current level of 31 by next year in a bid to capture a big chunk of the industry's market share. Similarly, the bank is also working to augment the number of Automated Teller Machines to about 80 as against 28. Branches would be opened at Bolgatanga, Swedru, Aflao, Kasoa, Techiman and Asafo, among others.

Mrs Margaret Mwanakatwe, Managing Director of Barclays Bank of Ghana who announced this at the commissioning of the Spintex Road Branch of the Bank on Tuesday, said these were in line with the bank's expansion programme and aimed to position the bank to become the leading contributor to the country's economic growth and development. Mrs Mwanakatwe said this vision would only be achieved through expansion and presence in key commercial centres as well as increasing access to banking facilities.

"We will not be able to play that role if we remain lean and thin on the ground, if we stay out from key commercial centres in the country and if we do not take our financial inclusion agenda to another level by increasing access to our banking facilities, irrespective of which corner in the country one stays," she said. Mrs Mwanakatwe said the bank was responding positively to the challenges in the industry through offering customers diverse superior products and services.

Mr Van Lare Dosoo, Deputy Governor of the Bank of Ghana, said banks were taking advantage of the level playing field created in the industry through years of reforms to expand and introduce innovative products unlike the past when they relied only on short-term government securities.

He underscored the need for extension of financial access to the communities, saying only about 20 per cent of the economically active population had access to financial services. "We should not be comfortable with 80 per cent of the population without access to one financial service or the other," he said. Mr Dosoo commended Barclays' drive to take financial services to the community.