NIB inaugurates new branch in Tema Community one

By Kodjo Adams, GNA
Accra, May 18, GNA - Management of National Investment Bank (NIB) has inaugurated a new branch office in Tema community one.

The branch, which is opposite the Social Security National Insurance Trust (SSNIT), was relocated from the Tema market, to provide spacious environment for business transactions and bring service delivery closer to customers.

The new location is strategic as it would afford the Bank to continue to support the business activities of some of these companies.

The expansion of the branch would generate large social benefits by creating jobs, prompting greater financial inclusion as an important tool for supporting economic development.

In a speech read on behalf of Togbe Afede XIV, Board Chairman of the NIB said the relocation was critical because Tema is a vibrant town and an industrial hub with a harbour to facilitate trade and business.

He noted that, in an increasingly competitive banking environment, commercial banks must seek to grow their businesses if they are to remain profitable.

The Board Chairman said the Bank commenced the year 2015 with 28 branches and as at December 2015, 11 new branches were opened, including Ashanti Mampong and UDS Tamale Campus.

He said the Bank plans to open branches in Teshie- Nungua, Yendi, Suame and Aflao.

He said it is the expectation of NIB to open 22 branches by the end of 2017.

Togbe Afede XIV said the banking sector maintains its competitiveness in service delivery, product and innovation and customer deposit mobilisation through cutting edge information technology.

He said the industry's total deposit stood at GH¢41.25 billion at the end of December 2015, having grown by 27.2 per cent compared with the 39.0 per cent growth recorded in 2014.

He urged the staff to treat customers with the highest level of professionalism since they are the reason for their existence.

Mr Ernest Mawuli Agbesi, Managing Director of NIB, said the Bank was established to support the country's industrialisation and had pursued the mandate with support from companies across industries in the country.

He said the bank has diversified target market, including manufacturing, infrastructure, agriculture and agri-business, construction and service sectors and the small and medium enterprises sector.

Mr Raymond Amanfo, Head of Banking Supervision at Bank of Ghana, urged the bank to tailor its products to meet the needs of the target market.

He urged the bank to adopt effective measures to protect the Information Technology Department from criminal activities.

GNA