Merchant Bank has new identity
Merchant Bank, which underwent ownership change last year, now has a new name and identity - the Universal Merchant Bank (UMB), a new corporate logo and colours.
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The renewed identity, according to the new managers of the bank, reflects its true business lines as a universal bank which has its hands comfortably on corporate, as well as retail banking.
The bank had in the past been associated more with corporate banking, making it lose some of its competitive edge in the retail market to peers.
“Our research revealed that many Ghanaians still see Merchant Bank as a bank for corporates, even though the bank acquired its universal banking licence as far back as 2004 and could, therefore, operate legally in the retail space,” the Managing Director of the newly branded Universal Merchant Band, Ms Nilla Selormey, said at the re-launch of the bank at a glamorous programme at the Labadi Beach Hotel.
She explained that the new name correctly defined the business the bank was engaged in, as it preserved the historic strength of the brand with its solid past credentials and also allowed it to expand its reach and offering.
“The new logo, which is friendly, trendy and unambiguously bold, illustrates our approach to pragmatically evolve with the times,” Ms Selormey said, adding that the new trade colours also affirms its proud African antecedent anchored on respect, communal outlook and all the rich values associated with the country’s culture.
The managing director of UMB said customers would also be the pivot of the bank’s activities that would inform the designing of its products, services, processes and branches, making Universal Merchant Bank “a customer-focused alignment of our business.”
Universal Merchant Bank has also advised on many transactions, including mergers, acquisitions, initial public offers and listing on the Ghana Stock Exchange.
Some high-profile customers of the bank took turns to endorse the change at the bank, and pledged their support for its next phase of growth and evolution.
The First Deputy Governor of the Bank of Ghana, Mr Millison Narh, commended the bank for pulling itself together and turning its fortunes around.
He said the injection of new capital by new managers, as well as the recovery of debts, “and the new management team have given it a new life and enabled the bank to regain the confidence of the public.”
