Access Bank optimistic about 2015

Mr. OgundimuAccess Bank Ghana says it is optimistic about the prospects of the bank and the economy next year.

“I’m optimistic that the economy would pick up next year and being a pre-election year we expect the government to spend to boost the economy,” Dolapo Ogundimu, Managing Director of bank has said.

Speaking to journalists in Accra on Monday, he said, the government’s move to seek assistance from the International Monetary Fund (IMF) would restore some level of stability in the Ghanaian economy.

He said despite the challenges confronting the economy, the company had chalked some successes and expect to build on it next year.

 

Rebranding

The managing director said the Access Bank Plc, including its Ghana subsidiary; Access Bank Ghana had embarked on a rebranding to reposition the bank with increased focus on small and medium scale enterprises (SMEs) and retail banking.

Mr. Ogundimu said the rebranding was to realign the bank’s brand as part of its repositioning strategies to re-energise and enhance its corporate image next year.

He said it was also to enable swift penetration of new markets and also to serve its customers with the best practices, culture and processes.

He said the bank had decided to focus on the retail and the SME market because it had a lot to offer to the two markets.

“We are not only going to support SMEs by just giving them loans but we shall build their capacity to enable them manage their businesses well,” he said.

He said “We want to concentrate more on the SME and the retail banking sector. We think there is a lot of potential there for business sustainability. The SMEs are the backbone of any economy and the earlier you identify with that market the better for you.”

The bank he said was also training its staff to have what is dubbed “an SME mindset” to enable the staff to relate well with the sector and understand their needs.

“This is because we can’t look at SMEs the way we look at corporate clients,” he said.

Mr. Ogundimu said the bank was improving its channels to expand its reach and attract more people into the banking sector.

This he said was part of the bank’s efforts to promote financial inclusion which is high on the agenda of the government.

 

LISTING ON GHANA STOCK EXCHANGE

The managing director also disclosed that the bank had begun the process to enable it to list on the Ghana Stock Exchange.

Although he failed to give a time line for the listing he said “the paper work has commenced and you would hear about the listing soon.

He said although, the bank had a sizeable number of Ghanaians who were already shareholders of the bank, listing on the GSE would afford more Ghanaians the opportunity to hold shares in the bank.

AWARDS

Mr. Ogundimu said the bank was very excited about the numerous awards it had won since it commenced operations in the country.

He said the bank was able to gain that recognition because of itsdedicated staff and loyal customers.

At the 13th Ghana Banking Awards, Access Bank also emerged winner for Best Bank in Corporate Social Responsibility and 1st and 2nd runners up in the Enterprise Finance and Household Finance categories respectively.

This is the third time the bank has been recognised by the Ghana Banking Awards. The Bank in its maiden participation in 2010, swept three awards including Most Socially Responsible Bank, Best Bank in Agric Financing and 1st Runner up in Financial Performance.

In 2012, Access Bank was adjudged the Best Growing Bank in Ghana barely one year after its successful merger and business integration with the erstwhile Intercontinental Bank Ghana (“IBG”). Today, Access Bank is also recognised as the 3rd Most Respected Bank in the country by the Ghana Club 100 Awards and Top Emerging Brand 2012 by Premier Brands.

By David Adadevoh

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