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 Torgbui Afede XIV (left) addressing some customers of the bank. With him is Mr John Asamoah, CEO, NIB. PICTURE: MAXWELL OCLOO
Torgbui Afede XIV (left) addressing some customers of the bank. With him is Mr John Asamoah, CEO, NIB. PICTURE: MAXWELL OCLOO

NIB to strengthen footprints as SME bank

National Investment Bank (NIB) is focusing on expanding its branch network as part of an aggressive strategic plan to increase its market share and maximise shareholder value.

The bank is also repositioning its operations to take advantage of the growing small-scale and medium enterprises (SMEs) sector.

At a cocktail held in Accra on Thursday to climax the week-long customers appreciation period, the Chairman of the Board of Directors of NIB, Togbe Afede XIV, observed that growth in the economies of developing countries depended heavily on the strength of the SMEs sector.

MasterCard

The event, which was held on the theme "Reaffirming our Commitment to Excellent Customer Service Delivery," was also used to launch the bank’s International Master card, an innovation to make transactions easier for its customers.

The cards come in three types, namely the service go card, standard debit card, and the prepaid card.

Present at the launch were key management and board members of the bank, including its Chief Executive Officer (CEO), Mr John Asamoah, as well as the staff and customers.

Togbe Afede said it was in recognition of the strategic importance of SMEs that NIB was strategising to support the district industrialisation project and the government’s quest to provide incentives for agribusiness.

"Our bank is well positioned to take advantage and support the new government's job creation agenda, especially locating industries in our hinterlands. Our branch expansion programme is to take advantage of such initiatives," he added.

SMEs key

He further stated that it was the expectation of every government to see financial institutions play a critical role to enhance financial intermediation, saying that the NIB would focus on supporting young entrepreneurs with capital "in order to keep the wheels of production running."

He said the bank would establish 10 more branches in 2017 at strategic locations across the country to add to the 45 existing branches.

 Some guests and staff interacting

Gains

Togbe Afede XIV observed that over the past few years, the bank had overcome challenges relating to fiscal pressures in the domestic economy and made modest gains.

"In 2015, the bank expanded and made some profit through strategic planning. Our target is to continue to expand in order to reach the unbanked population and to bring banking closer to customers," he added.

He underscored the need for financial institutions to continue to adopt innovative business strategies that would set them apart from others in order to beat competition in the banking industry.

The board chairman also urged the customers to adopt a savings habit to enable them to meet their needs in future.  

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