GCB assures customers of UT, Capital banks of better offers
The Managing Director of GCB Bank Ltd, Mr Anselm Ray Sowah, has assured customers of the erstwhile UT and Capital banks, especially corporate clients, that they will enjoy lower interest rates since they have become part of the GCB family.
Advertisement
He said in line with the integration of the entities, the lending rates of the two banks, which used to be high, would be in line with what pertained in GCB for their advantage.
“For the benefit of the corporate customers of the ex-UT and Capital banks, GCB will be reviewing the lending rates downwards to the level of the GCB’s existing corporate clients,” Mr Sowah said when he addressed corporate customers of GCB at a breakfast meeting in Accra yesterday.
Base rate drops
On July 24, 2017, the Bank of Ghana (BoG) cut its policy rate by 150 basis points from 22.5 per cent to 21 per cent due to the downward trend in consumer inflation.
A search on the website of GCB showed that the bank has the current lowest base rate of 22.75 per cent down from 26 per cent, against 27 per cent and 29 per cent of most banks in the country.
A lower base rate makes it easier for individuals and corporate businesses to borrow, thus providing a boost for the national economy.
Extensive, networked branches
“I assure you that you will have access to a bigger bank with over 200 branches, all of which will be fully networked as part of the six-month programme of integration and this will provide a wider scope to operate from than previously,” Mr Sowah said.
The meeting allowed the management of the GCB to share with corporate customers and captains of industry the benefits of taking over the assets of UT and Capital banks.
{loadmodule mod_banners,Nativead1}
Passion to grow businesses
Mr Sowah stated that GCB, which was founded over six decades ago to primarily handle indigenous Ghanaian businesses, had successfully managed retail, small and medium enterprises and corporate institutions, including multinationals, through experience gained over the years.
According to him, the passion to grow local businesses was ingrained in the procedures and practices of the bank which had built relationships to nurture businesses.
The managing director said it was his ambition to bring passion into how GCB managed the local entrepreneurs, for which it had embarked on a campaign to win, nurture, support and grow Ghanaian businesses to improve the economy.
One-stop solution
Mr Sowah explained that the decision to assume the management of the two collapsed banks was taken to grow their brands and create an enabling environment for the businesses of their clients.
He indicated that the bank had the right balance sheet to support big ticket transactions and deals to the advantage of customers.
“It means that GCB has the capacity to offer customers a one-stop solution to their bank needs rather than having to deal with different banks,” Mr Sowah explained.
Excellent products
For his part, the Chief Operations Officer of GCB, Mr Samuel Sarpong, said the bank was reviewing the staffing levels of the two banks and taking steps to harmonise the three entities, a process he said was being done with a human touch.
To understand the operations of the two banks, he said GCB staff were presently working with the staff of the UT and Capital banks in all their branches across the country.
He added that by assuming the assets of the two banks, GCB had the biggest balance sheet, making it the biggest bank in the country.