HFC Bank targets growth in mortgages

The Managing Director of the HFC Bank, Robert Le Hunte, has said that the bank envisions becoming the 3rd leading bank in the country over the next three years.

He said this at the 29th Republic Day celebration of Trinidad & Tobago, which was held at the HFC gardens.

Currently HFC Bank is ranked the 16th biggest bank in Ghana in terms of assets, and it expects to increase its size through new innovative banking products and services.

Addressing a section of the media, the head of the bank said t the takeover from Republic Bank Group in May this year -- which initially suffered a lot of setbacks -- will accrue to the benefit of the economy as the bank is determined to provide the best banking services to its customers.

“Republic Bank’s sponsoring of this year’s celebration, which is being hosted in the gardens of HFC, is an indication that the past is behind us and we are now focused on the future for the benefit of shareholders.

“To this end, HFC Bank with its history in mortgages will continue to provide leadership in this area with our quest to provide banking services more meaningful to our existing and potential clients. Republic bank is positioned to provide the leadership and support we may seek to realise our vision to become the third-leading Bank in Ghana within the next three years,” he said.

He further stated that the celebration of Republic Day in Ghana and at the HFC gardens provides the bank a platform to send a message to people that Republic Bank has come to the country with a good motive to invest in the country in order to contribute to Ghana’s economic development.

As part of the anniversary celebration, the honorary Consul of the Republic of Trinidad & Tobago to Ghana, Hilton John Mitchell, used the platform to highlight some of the country’s achievements over past 29 years.

He noted that the country began to see development and transformation of its economy after the ‘1970 Black Power revolution’.

“Today marks the 29th anniversary since Trinidad and Tobago became a republic on September 24th 1976. This development came after what is referred to as the 1970 Black Power revolution. This social revolution transformed the country significantly. By the end of 1970s decade, state ownership in the local economy had expanded to well over 79 companies. The national gas company that was established in 1979 now stands as the flagship company of the Republic of Trinidad and Tobago, accounting for over US$4bn in profit into the Treasury annually. But prior to 1970 the state had ownership in only four companies.

“Today education is free from pre-school to the university; every child entering the secondary school at the age of 11 years is given a free laptop. Every child from primary to secondary school is given free breakfast and lunch. Public transport is free to every student as well as every pensioner who is 65 years and over. Every pensioner is given an equivalent of US$550 monthly. Healthcare is free for every citizen. Today unemployment stands at approximately 4 percent. 60 percent of the adult population has acquired tertiary education,” he added.