Merchant positioned to fight competion

BY: Arku Jasmine

Joe Tetteh -MD, Merchant BankMerchant Bank Ghana Limited the pacesetter in the establishment of merchant banking, hire purchase and leasing financing in the country has contributed immensely to the economic development of the country over the last three decades.

The Bank was incorporated on 1Oth June 1997 as the National Finance & Merchant Bank Ltd. It was granted a licence to operate banking business on 16th July 1971. Merchant Bank opened its doors to the public on 15th March 1972 as the premier merchant bank in Ghana.

In the year 2005, Merchant Bank broke new grounds by transforming its operations to cover Consumer Banking with the acquisition of a Universal Banking Licence Currently the bank has 22 branches nationwide.

The Bank has two subsidiaries with core business specialisation in dealing in Funds/Portfolio Management, Money Market Operations, Investment Advisory Services, Brokerage Services, underwriting of new issues.

Search and Joint Venture Arrangement among others. As a bank we have a clear strategy going forward with the focus on the markets we know extremely well, whilst we build long term relationships with our customers to provide the needed support for their personal, trade, SME, Investment, Corporate and Institutional Banking services.

The core value of relationship banking which Merchant Bank pioneered continues to be a pillar on which the Bank's strategy is driven.

Despite the increased competitiveness in the financial sector of Ghana, the Bank is building a solid foundation with a clear and focused strategy of expansion and modernisation of its consumer banking proposition, deepening of its corporate banking franchise and revitalising its investment banking wing. We are dedicated to making a real distinction to the financial services industry in Ghana by harmonising the desires of our customers, people and shareholders.

Merchant Bank Ghana employs over 500 people, and for all of us the customer is still king at the centre of everything we do hence our mantra,”My Bank My Way”.

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