The Capital Bank, an indigenous bank with a firm hold on the small and medium scale enterprise (SME) sector, has injected a new capital of about GH¢50million to become the bank of excellence in the next five years.
The initiative embarked on in December last year, was to enable the bank expand into other African markets.
According to a statement signed by Nana Yaw Kesse, Head of Communications and Public Relations of the bank, the very first step to mark the new forward-thinking approach and the vision to become the local bank of excellence for African markets, was marked by rebranding from First Capital Plus Bank to Capital Bank.
The bank has since raised its profile within the Ghanaian banking sector with customer-focused retail products, expanding its presence across the country, and deploying enhanced electronic products to meet the taste of the new African.
“Combined with a newly reconstituted executive committee, Capital Bank marks the first year of its African journey; the bank has raised its profile within the Ghanaian banking sector with customer-focused retail products, expanding its presence across the country, and deploying enhanced electronic products to meet the taste of the new African,” he said in a statement.
Ghana is considered as one of the leading countries for inward remittances with World Bank estimates indicating that remittances to the country hit its peak in 2013 when US$2 billion was sent home by an estimated 737,000 Ghanaians.
“Private inward transfers received by non-governmental organisations (NGOs), embassies, service providers and individuals through the banks between January and December last year amounted to about US$17.8 billion,” Capital Bank said.
According to the bank, these statistics clearly showed the need to expand its money remittance services to its growing customer base and the general public.
Capital Bank said within the last one year, it had partnered world-acclaimed international money transfer providers.
“One of many such partners is Ria Money Transfer, which operates in about 147 countries. The integration of Capital Bank’s systems with that of Ria makes it possible for customers to receive remittances instantly in their Capital Bank accounts,” the statement quoted the Managing Director, Rev. Fitzgerald Odonkor as saying.
“The real essence of these partnerships is not necessarily about transferring money; it’s about impacting society. We believe remittances are about connecting families, building relationships, sharing love, helping to realise dreams and delivering hope to millions of people,” he added.
One of the bank’s key strengths is the ability to innovate by developing simple and relevant solutions that dictate the dynamics of banking and also meets the needs of the sophisticated Ghanaian.
After one successful year of rebranding, the Capital Bank is committed to provide the best customer-focused solutions and superior value to Ghanaians as it strived to establish the brand on the continent and continued to be at the forefront of changing customer needs.
By Salifu Abdul–Rahaman