First National to become a universal bank

Accra, March 17, GNA – The First National Savings and Loans Limited would soon become a universal Bank to increase its contribution for growth and sustainability of the national economy, Mr Komevor Tettegah, Acting General Manager, has said.

He said the institution had attained all the requirements set by the Central Bank to operate as a universal bank to provide first class banking services to the ordinary Ghanaians.

“Our capital base has moved from GH¢ 7 million to GH¢ 20 million and we have achieved the target of GH¢ 60 million capital base to become a fully fledged universal bank,” he said.

Mr Tettegah made these known at the Annual Staff and Customers Party and Fun-Games, organised by the Bank at the weekend in Accra.

He said plans were advanced to expand the operation of the institution beyond the country when it becomes a universal bank to serve both Ghanaians and non-Ghanaians globally.

“We aim at becoming a “People's Bank” where our customers, such as traders, farmers, students, workers and small scale business entrepreneurs everywhere in Ghana, will be provided with efficient banking services,” explained.

The event was aimed at promoting good customer relationships and also award loyal customers.

The Bank awarded 21 customers with electrical appliances, souvenirs and special two-day treats at any Coconut Grove Regency Hotel in the country.

He said it was time Ghanaians developed a positive attitude towards the patronage of local financial institutions to enable them to grow to expand and to create employment opportunities.

“The way Ghanaians patronize the services of foreign banks more than local financial institutions is very worrying”, he expressed.

He mentioned some of the services rendered by the First National Bank as emergency commercial loans for clearing goods at the port, payroll loans for salaried workers, auto loans as well as the introduction of Bullion Van services for easy cash deposit by customers.

In addition, he said, there had been an increase in the number of field cashiers to reach a greater part of their catchments, adding that, branches would be networked and money transfers would be aligned in an effort to satisfy customers.

Mr Tettegah called on Ghanaians to patronize locally-owned financial institutions to contribute towards national socio-economic development.

First National Savings and Loans Limited was established and licensed by the Bank of Ghana in 2006. It has grown to 48 branches in all the 10 regions with a customer base of over 180, 000.

GNA