22.08.2006 Business & Finance

Three Leading Banks Urged To Open Branches At Kasoa

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A suggestion has been made to the managements of Ghana Commercial Bank (GCB), the Agricultural Development Bank (ADB) and the Social Security Bank, to consider as a matter of necessity, opening branches of their respective financial institutions, at Kasoa.

The Reverend Dr Apostle Samuel Ayisi Larbi, Founder and Leader of the Power of Christ Ministry International Church, made the suggestion at Kasoa in the Central Region at the weekend.

Rev Dr Apostle Larbi was not happy that Kasoa, which has been described as the fastest growing commercial town in West Africa lacked the presence of such highly business-oriented financial institutions in the area.

Rev Dr Apostle Larbi said the absence of the Ghana Commercial Bank, Ghana's premier commercial bank, the Agricultural Development Bank and the SSNIT Bank at Kasoa has created a serious vacuum among the big-time businessmen, businesswomen and various companies operating in and around Kasoa.

According to Rev Dr Apostle Larbi, small banking institutions operating in the area cannot afford granting heavy loans to hard working and highly focused businessmen, businesswomen and companies who want to expand their businesses to absorb some of the unemployed youth in the area.

He said, the spillover of excess population in Accra to Kasoa urgently required the attention of big-time financial institutions to reach out to people in and around Kasoa for them to benefit from their services.

Rev Dr Apostle Larbi regretted that at the moment most of the firms, estate developers and traders resident at Kasoa, who want to transact banking business with the Ghana Commercial Bank, the Agricultural Development Bank as well as SSNIT Bank were compelled to travel to Accra before they can transact their banking businesses.

He said the establishment of branches of the three leading financial set ups at Kasoa would not only help promote their banking activities, but also pose a healthy challenge to the smaller banking institutions currently operating in the area.

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