Databank Denies Gold Trading Allegations

Data Bank Chief Marketing Officer, Gillian Hammah

Databank Financial Services has debunked media reports that they have commenced dealing in gold collectibles in the wake of the near collapse of Menzgold Ghana Limited.

The Investment bank in a statement signed by its Chief Marketing Officer, Gillian Hammah has stressed that they are not into gold collectibles and do not intend going into such business.

They have indicated that they have been made aware of the news making rounds about their involvement in gold trading operations and they want to state clearly that it is not true such thing is going on.

“It has come to our attention that pronouncements have been recently made in the press claiming that Databank is dealing in gold collectibles.

“We would like to assure our customers and the Ghanaian public that this claim is FALSE. We are not licensed to deal in gold collectibles, have never done so, and do not intend to deal in gold collectibles”, a part of the statement issued said.

The bank has emphasized that they remain focused on their investment operations which include selling shares, treasury bills and bonds, as well as managing mutual funds, pensions and institutional funds.

“Databank is a professional investment bank that is licensed by the Securities and Exchange Commission, Ghana (SEC) to sell shares, treasury bills and bonds, as well as manage mutual funds, pension and institutional funds.

“We remain committed to our core mandate of managing the funds of our investors in prudent ways that are sustainable over the long term, as well as providing ¬financial education to all Ghanaians”, Mr. Hammah said.

He continued “We want to assure all clients and the general public that we have not and will not engage in any practices that compromise our commitment”.