After operating in the Kpando municipality for four-and-a-half years, the Frerol Rural Bank yesterday opened a branch in Ho.
The main focus of Frerol Rural Bank which is member of the First Sky Group is to support the growth of businesses in the communities and also encourage the youth to start their own businesses.
Speaking at the ceremony, Professor Richard J. Bani, Board Chairman of Frerol Rural Bank, said the bank was now poised to replicate its Kpando successes success story in Ho.
He said that market analysis and the feasibility studies carried out by the bank indicated that the Volta Regional capital was an ideal ground for good business with bright and guaranteed prospects for investments by the local populace.
“Our philosophy is a social intervention to support the growth of local economic activities and not profit,” Professor Bani maintained.
He gave the assurance that profits of the bank would be ploughed back into the businesses of the communities.
The Frerol Board Chairman said that the bank always took up its social responsibility with great zeal and utmost seriousness, which was why it vigorously supported the crusade against COVID-19 by donating personal protection equipment (PPE) to health institutions.
The Executive Chairman of the Sky Group, Mr Eric S. Kutor Frerol, said that Frerol Rural Bank had the most gracious and affordable interest rates on loans and that testified to its business-supportive stance.
He said that Frerol Rural Bank was determined to assist women in their businesses to make them financially self-reliant.
PICTURE: Mr Kutortse (second right), Professor Bani (first left) and Rev. Dr Paul Frimpong-Manso, General Supervisor of the Assemblies of God Church, jointly performing the opening ceremony
FROM ALBERTO MARIO NORETTI, HO