Banking & Finance

FBN Bank says committed to funding businesses amidst economic challenges

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Chief Executive Officer of FBN Bank Ghana, Mr. Victor Yaw Asante, says despite the economic challenges facing the country, the bank has assumed a more crucial role by assisting businesses and individuals with funding.

He asserted that the current economic challenges have heightened the role of banks, stressing that FBN Bank is aware of that and is well placed to make a difference through its offerings and propositions.

“Our usual role as financial intermediaries has become even more difficult to undertake because of the somewhat challenging economic environment, following the rising cost of living evidenced by rising interest rate and inflation.

Businesses and individuals face considerable headwinds and are therefore unable to make as much return as they used to make,” he added.

This, according to Mr. Asante, has led to a situation where banks such as FBN Bank have to assume a more crucial role by assisting businesses and individuals with funding as well as proving other banking services.

Speaking at the opening of the bank’s Hospital Road in Tema, he said over the last few years a number of businesses have been established at the hospital road in Tema to meet the growing needs of the fast-growing human population and a number of these businesses are small and medium enterprises that need an exciting and solutioning-oriented banking relationship like what his bank offers.

Regardless of the economic challenges, the bank’s CEO said they still consider 2023 as a year which offers a strong opportunity to build on their relationship with their stakeholders.

He told the bank’s stakeholders that “2023 therefore remains the right time for delivering our gold standard of value and excellence. It’s a good time to demonstrate that we are there for you, and committed to you, our stakeholders.”

He added that with the opening of the Hospital Road branch, all these opportunities are now within reach of businesses and individuals in the communities and Tema as a whole, saying “every individual, institution or corporate stands to benefit from our exciting products, services and experience.

The Hospital Road branch is the third physical touchpoint of the bank in Tema along aside the Community One Market Square and an agency at the GPHA.

This new branch is expected to expand the bank’s network to customers and residents in other parts of Tema, especially the residential enclave.

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