UT Bank to issue visa cards

Retail clients of UT Bank will, from May this year, be issued with VISA cards, the bank’s General Manager in-charge of Wholesale Banking and Investor Relations, Mr John Ackom, has said.

That, he said followed moves by the bank to migrate onto the VISA platform next month. Mr Ackom disclosed this when UT took its turn at the Ghana Stock Exchange’s Facts Behind the Figures programme in Accra.

He added that the bank had already gained the accreditation to use the VISA platform and would thus, migrate interested clients unto it as part of innovations to reach its targeted customers as well as attract new clients.

The VISA card allows clients to make purchases and withdraw cash from automatic teller machines (ATMs) that accept VISA cards and will also offer clients with instant access to their bank funds in a secure, safe and convenient manner.

Mr Ackom also hinted that the bank would focus on improving its trade business as well as increasing its presence by opening four new new branches in the country by the end of the last quarter of the year.

This, he said was part of measures to help the bank acquire more deposits that costs less from its clients.

The bank will also invest in its brand and service quality to maintain the strong image that UT Bank has created for itself, Mr Ackom added.

The bank posted a profit before tax of GHS26.7 million for 2012 against GH¢17.3 million recorded in 2011.

It also grew its total assets by 38.5 per cent to GHS987 million with non-performing loans reducing 13.9 per cent in 2011 to 11.9 per cent in 2012.