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18.10.2005 Business & Finance

Merchant Bank inaugurates sixth branch at K'dua

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Koforidua, Oct. 18, GNA - Merchant Bank Ghana Limited on Monday inaugurated its sixth branch outside Accra at Koforidua. Mr Charles Addo Ashun, the Branch Manager said the inauguration was in recognition of the immense business potential of the municipality, and the bank's desire to complement its unique costumer banking services.

He said, "Merchant Bank is about services and we want Koforidua to see the best banking services we offer, especially with low initial deposits."

On its high point products, Mr Ashun said the bank had "Merbank Saver Account and Merbank Current Account," each with an initial deposits of 50,000 cedis.

Other products are the Merbank Investor Account for high network customers with initial deposit of 10 million cedis and competitive interest rate, the Fixed Deposit Account with an initial deposit of one million cedis and a current Base Rate of 23.3 per cent. Mr Ashun said the bank operated an international inward money transfer through its foreign agents, Vigo and Transchq Transfers, and opened its Vigo Money Transfer agency at Koforidua two years ago. Reverend Father Joseph Spreeh, SVD, Priest in charge of the Koforidua-Adweso Catholic Church, cut the tape and dedicated the bank premises.