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Business News Mon, 10 Oct 2005

HFC Brokerage services commences trading on GSE

Accra, Oct. 10, GNA - The HFC Bank Limited on Monday started trading on the Ghana Stock Exchange (GSE) in its new brokerage services that included buying and selling of bonds and shares on behalf of clients. The services include advising clients on their capital market investment decisions, assisting companies, municipal and district assemblies and the central government to raise funds through private placements and on the GSE.

Briefing journalists in Accra, Mr Asare Akuffo, Managing Director of the Bank said the introduction of the new services, put HFC in a position to provide an entire spectrum of financial services under one roof in all of its branches nationwide. "Investment banking is growing and becoming more competitive but HFC stands out from the rest because of the universal status it has," he said.

Listing its financial services, which included retail banking, corporate banking, mortgage banking, funds and wealth, and property management, and now the brokerage services Mr Akuffo said this is one-stop-shop finance and investment home. He said clients would be assisted to strengthen and diversify their capital structure by accessing both domestic and international markets.

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On the Bank's track record, Mr Akuffo said being a proud member of the GSE since 1995; HFC had been one of the best performing stocks in the history of Ghana. "It is the most active listed company having assessed the market to raise funding far more than any other company. "Apart from our Initial Price Offer in 1995, we have had two rights issues and eight corporate bonds issues," he said.

On that basis, Mr Akuffo said the Bank had come to the market with unquestionable pedigree and it shall continue to support the GSE to grow. He said the commencement of the trading of the brokerage services confirmed the Bank's determination to make true universal banking services a reality in Ghana.

Source: GNA
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