Stanbic Bank's Trader Pac is CIMG Product of the Year

Stanbic Bank Ghana's Trader Pac has been adjudged CIMG product of the year at the just awards held in Accra last week.

The award was attributed to the bank's demonstration of sustainability of its portfolio of financial solutions over time.

Head of SME Banking at Stanbic Bank Ghana, Stanislaus Deh, said “The bank understood the needs of the customers. We have been able to carry a good number of them along in growth which has been mutually beneficial. The bank has also taken measures to protect customers and the bank; and most importantly maintained a fruitful relationship”.

He added that greater brands and businesses started from the scratch. The bank has identified that it is the younger businesses that need to grow to support the economy of the country therefore the bank is willing to spend some money on customers to grow their businesses, hence the focus on the trader markets.

The Trader Pac was introduced to support trader funding facilities with its business to human solution oriented portfolio and to better cushion Small and Medium Enterprise (SME) operators in the country.

“Measures are strongly and actively in place. We have tried and tested it before and we know it's sustainable,” said the Head of SME Banking. We know competition is there and while they try to catch up with us we'll be long gone. There's no way competition will catch up with us within this space.”

New customers of the bank are eligible to access the convenient repertoire of financial products under the Stanbic Trader Pac six months after enrolment. Meanwhile SME operators who are already running SME product facilities with other banks can enjoy same out rightly with a simple requirement of their account statement.

The Stanbic CSPs (Cash Service Points) at Madina, Makola, Kasoa and Sumae have been dedicated to SMEs which is mainly for cash deposits and collection, while the Business Solution Consultants move through the markets with IPads to create instant account numbers at the convenience of the traders in the markets.

Mr. Deh urged customers to watch out for more exciting packages from the bank within this last quarter of 2014 and the year ahead.