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Business News Wed, 19 Aug 2015

Good record keeping guarantees credit – GCB Bank

The acting Managing Director of the GCB Bank Ltd, Mr Samuel Sarpong, has urged businesses to keep good records of their finances to enable them to access loans from banks.

He said most banks were not property managers and were not particularly interested in collecting collaterals from customers before granting them credit.

Mr Sarpong, who was speaking at the SME clinic organised for its customers in the Ashanti Region, explained that banks would want to be sure that the creditors were in the position to repay their loans before advancing same to them.

“And one of the surest ways to do that is to keep records of accounts and transact most of the businesses through the banks. Ensure that all your transactions pass through the banks so that we have an idea of your cash flow,” he advised.

As part of its commitment to boost economic activities, he said, the bank had put in place lots of products for businesses to access to expand and increase production.

One of such products, he said, was unsecured loans of up to GH¢100,000, and urged the businesses in the region to take advantage of the facility.

He, however, explained that one’s eligibility would depend on the performance of the business’s account.

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The occasion was also used to hold the company’s mini-draw in the ongoing ‘Big Money Promo’ where a customer from its Burma Camp branch, Mr Seteklu Joshua, won a prize of GH¢100,000.

Another customer from Nkawie, Ms Georgina Amankwah, also won a 5KVA-generator, with Wunadu Nimab from Bimbila, Augustine Affum of Asante Mampong and Gladys Agbenu of Kpando, winning the third, fourth and fifth prizes respectively.

Winners of the previous month’s draw were presented with their prizes.

The Head of Consumer Banking, Mrs Doris Wunu, said the promotion was introduced to reward customers of the bank for their loyalty.

She said the promotion was open to all customers of the bank and all one needed was to make a deposit of GH¢500 and make further deposits in multiples of GH¢500 to qualify for it.

Source: Graphic.com.gh
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