Banks are the engines of growth for many global economies, the Managing Director of Absa Bank Ghana, Abena Osei-Poku, has said.
She said while the banking system meant many things to different people, the basic operation of receiving and lending and everything in between, are intrinsically crucial for the survival of the global eco-system.
Mrs Osei-Poku said this in a statement issued by the Bank in Accra yesterday to highlight “Two Years of Redefining the Modern Identity of Banking – An Absa Bank Ghana Story.”
“Banks enable the activation of everyday life – the buying of goods and services, transactions, investments and savings, setting up businesses and wealth creation,” she said.
Mrs Osei-Poku said “Across the world, the transformation of organisations, infrastructure, international trade and commerce are the reasons banks exist. Economies prosper and lives are transformed due to their operations.”
She said banks were also responsible for harnessing talents, contributing to socio-economic growth by investing and caring for communities and empowering the youth and women in several initiatives including health and education.
She said although the bank had been associated with the Ghanaian economy for two years which was celebrated two weeks ago, its importance and function lie in more than a century-old transformative story that continues to be told today.
“In just two years of assuming the innate Absa identity from the previous Barclays umbrella, the bank has already outdone itself in pushing the boundaries of innovation and creativity and redefining the modern identity of banking,” Mrs Osei-Poku said.
She said Absa occupied a vital place in the country’s economic growth through its financing and restructuring of deals in sectors including telecommunications, agriculture, mining, energy, public sector, and start-ups.
The Absa Bank Ghana Managing Director observed that the construction of a new head office in Accra, was a demonstration of the bank’s commitment to improve upon its long heritage in Ghana by eventually creating a permanent home here.
Absa Bank Ghana, she said, was also the leading financier for the first wholly-owned Ghanaian sea vessel – Flat C- which recently commenced operations on the shores of Ghana to support the oil and gas sector.
“Absa Bank Ghana was a lead arranger in the structuring and financing of the COCOBOD loan syndication deal with foreign banks for the cocoa sector, while the bank’s commitment to the Ghanaian society had been demonstrated in initiatives like Ready-to-Work, Employee volunteering, Environmental protection and mentorship, forming the crux of its citizenship agenda,” she said.
Commenting on two years after rebranding Absa Bank Ghana, the Managing Director said “It’s been an extraordinary two years in Ghana. We have come this far knowing that it takes two to bring possibilities to life. With your firm support and dedication, we have transformed our offerings to meet your needs. We want to thank you for the confidence and goodwill you have constantly shown to us. We don’t take that lightly at all.”
BY TIMES REPORTER
