First National Bank promises exciting times for Ghana’s banking industry

After years of investments in various sectors of Ghana’s economy, First National Bank (FNB) of South Africa has taken the next step to become a player in the Ghanaian banking sector.


The bank which opened here in the last quarter of 2015 officially launched its Ghanaian business at a short ceremony here on Thursday.

The bank is here to stay and do business with Ghanaians of all levels, said Chief Executive Officer (CEO) of FNB Ghana, Richard Hudson.

“We are truly delighted to be part of Ghana’s banking sector. While our footprint is still developing, we have plans to roll out additional branches and ATMs in the next few years and are already offering a full range of digital platforms from banking app for smart devices to online banking, the CEO stated.

The bank’s strategy, he said, is to disrupt the market with exciting offers and new banking technology as it has done in other countries.

Hudson said the bank will start implementing the strategy by moving customers gradually towards electronic payments, rather than cash and cheque which will ensure greater security and convenience for clients.

The FNB group through the Rand Merchant Bank has already invested nearly 700 million U.S Dollars in various sectors in Ghana.
“We took the decision to set up an entirely new green field operation free from existing structures and built a new bank from the ground up,” Group CEO of FNB Jacques Cellers said.

According to him, coming to Ghana is another opportunity to build a new bank tailored to the requirements in Ghana, based on technologies available and proven across their other operations.

The key objectives for the bank in coming to Ghana, according to Cellers is to provide electronic and digital banking that is convenient and low-cost to a broad segment of the people of Ghana, while at the same time building conventional branches and installing latest ATM machines.

Michael Larbie, Chairman of the board of FNB Ghana, said the bank will bring on board its innovation, quality service delivery and retail banking into the Ghanaian market while continuing in its already existing activities of investing in high end projects.

Some of the investments the bank has already undertaken in Ghana include the construction of the Junction and Achimota Malls, the Kumasi Mall which is coming up, the Stanbic Heights at Opaibea Junction, the Accra Financial Centre and the Cen-Power Thermal Plant at Kpone in addition to participating in the syndicated loan for Cocobod’s operations.
With two branches in addition to its headquarters, FNB aims at opening least five more branches before the close of the year. End.

Source: Xinhua

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