Fidelity Bank launches new branches

Accra, Nov 19, GNA - Fidelity Bank on Tuesday launched four of its new branches in Accra with the introduction of new banking products, Fidelity Agyepadee Welfare and Business products. The branches which were all established this year were the Abossey Okai, Agbogbloshie and Tudu branches all located within Accra and Tema Bond House situated in Tema.

At the official launch, Mr Alfred Amo-Mensah, Head of Sales on Agyepadee Products, explained that the welfare account product could be opened with two Ghana cedis, while the business account was opened with 10 Ghana cedis. He said the products were particularly targeted at traders such as spare parts dealers, vulcanizers and hawkers as well as commercial drivers.

Mr. Amo-Mensah also indicated that all one needed to open such accounts were an identification card and a passport size picture "and with that one would be entitled to a cheque book, a loan facility depending on one's deposit, and an overdraft package". Mr John Sam Acquah, Director in-charge of Retail Banking, said Fidelity Bank saw the customer as key in its operations so frequent interactions were made with follow-ups and visits to customers to offer them quality services.

"With Fidelity, even a current account attracts interest unlike other banks," he added. Mr Edward Effah, Managing Director of the Bank said the bank, which started its operation only two years ago was poised to "help traders stand on their feet with high quality services". Mr George Kwaku Ofori, Acting President, Ghana Union of Traders Association (GUTA), said the proliferation of banks and other financial companies was an indication of the resilience of the economy, adding that, had brought about healthy competition with the benefits directly going to the customer.

He asked the banks to continue to reach out to the people, especially the various trade and business associations, to establish good business relationships with them. "After granting the loan and overdraft facilities, the banks should periodically visit the beneficiaries to monitor and acquaint themselves with genuine problems, if any, and offer the appropriate technical advice when need be," he advised. Mr Ofori further urged beneficiaries of loans and other banking facilities to be prompt in honouring repayments of loans acquired from financial institutions to enable them to revolve the monies entrusted to them. 19 Nov. 08