NIB will be prudent in managing customers’ funds: MD assures at opening of Mampong branch

The Managing Director (MD) of the National Investment Bank (NIB), Mr Ernest Mawuli Agbesi, has assured customers of the bank that it would be prudent in the management of their funds in a manner that will not cause them heart aches and disappointments.

He stated that there a number of microfinance institutions had attempted to perform the functions of banks, resulting in disappointment to many individuals and households. 

Mr Agbesi, who was speaking at the inauguration of the Mampong branch of the NIB in the Ashanti Region, indicated that the banking sector continued to witness significant competition in terms of location/sites for branch expansion, a scramble for customer deposits and demand for the best.

More branches 

The MD averred that the Mampong branch would re-enforce the bank’s capacity to serve its customers, especially those in the informal sector, and expressed the hope that a branch would be opened at Suame by the end of the second quarter of this year.

That, he said, would increase the bank’s branches in the Ashanti Region to six, having already established branches at Adum, Kejetia, Asokwa, Obuasi and Mampong.

He explained that the NIB used a single core banking platform which allowed customers access to banking services in all branches of the bank.

Growth 

Mr Agbesi mentioned the rationale for setting up the bank about 53 years ago — to support the industrialisation of Ghana. 

“We have pursued this mandate by virtue of the support we have offered numerous companies across various industries in this country. We have a diversified target market which includes manufacturing, infrastructure, agriculture and agri-business, construction and the service sector,” he said.

Mr Agbesi was of the view that in an increasingly competitive banking market, commercial banks must seek to grow their customer base if they were to remain profitable. 

He opined that one of the most effective ways to achieve that was through expansion of branch networks to generate large social benefits by promoting greater financial inclusion as an important tool for supporting economic development and the improvement in living standards.

Describing Mampong as one of the vibrant districts in the Ashanti Region in view of the number of tourist sites and educational institutions, coupled with a vibrant market, Mr Agbesi stated that the NIB was in Mampong to support its growth, adding, “As customers, do not hesitate to call on us any time to help us solve your financial needs. It is not for nothing that our tag line is ‘Your Business is Our Business’.”

Dignitaries 

The Mamponghene, Daasebre Osei Bonsu II; the Mamponghemaa, Nana Agyakoma Dufie II, and the Municipal Chief Executive were among the dignitaries at the inauguration.

The Mamponghene advised the bank to put its customers at the core of its business and join the people to develop the town.