GN Savings to pay salary arrears of government employees, Zoomlion workers, Pensioners – CEO

The Chief Executive Officer (CEO) of GN Savings and Loans, Issah Adam, has hinted that his outfit has made adequate provision to be paying salary arrears due to government employees, Zoomlion workers, pensioners and others starting Monday, March 4, 2019.

According to him, this is an important step for GN Savings and Loans after it was reclassified as a savings and loans company by the Bank of Ghana (BoG) two months ago.

Mr Adam assured customers of the company that GN Savings and Loans "is safe, sound and working to restore the conveniences enjoyed all these years".

He observed that the local/regional banking concepts of GN Savings and Loans assure those bringing new deposits of unrestricted access to their funds and this has strengthened some of their branches making them relatively liquid.

“It is bringing back customer confidence step by step; one person at a time. It is a fact that GN Savings is the only licenced financial institution in many towns across Ghana” he noted.

Mr Adam indicated they are ready to serve their client with safety and convenience and further invited non-customers to come and witness the unique services GN Savings is delivering to its clients.

About GN Savings and Loans

GN Bank in January 2019 obtained a Savings and Loans licence after failing to comply with the Minimum Capital Directive of the BoG by 31st December 2018.

GN Bank consequently applied for, and the Bank of Ghana approved the grant of a savings and loans company licence.

The Bank of Ghana also approved a transition plan submitted by GN for winding down aspects of its business which are not compatible with a savings and loans company licence.