uniCredit opens branch in Takoradi

UniCredit, one of the leading savings and loans companies in the country, has opened a branch in Takoradi.

The Omanhene of the Essikado Traditional Area, Nana Kobina Nketia V, at the opening ceremony, welcomed uniCredit into the municipality and encouraged management to develop products and services that would help better the lives of the people in the region.

 He advised banks to help reduce the dependency syndrome among customers which makes them become entangled in debts and thus become vulnerable to financial institutions. He stressed that this could result in high default rate which was not good for the financial institutions.

He congratulated uniCredit on coming to Sekondi/Takoradi and expressed the hope that more branches would be opened in the region to facilitate trading and other economic activities.

The Managing Director of uniCredit, Mr Stephen Ameyaw, indicated that the company accepted deposits and offered  personal loans, trade finance loans (Adamfo Pa), working capital loans (Dwetire) and clearance loans (Boafo Ye Na) to its customers.

Apart from these, Mr Ameyaw said the company also engaged in non-financial services such as training and advisory services aimed at helping to build the capacity of their customers.

With these products and services, he said the company had considerably grown its outreach from a customer base of 41,150 in 2009 to its current 141,000 customers, registering a growth of more than 242.6 per cent. 

Mr Ameyaw extended a hand of welcome to residents and businesses within the Sekondi/Takoradi metropolis and assured them of the company’s resolve to help them to improve their lives.

Other Trending Stories

Brazil fines Musk's X for site's return after ban

Q2 GDP: Ghana’s economy grows at fastest pace in five years

Ghana loses 160,000 tonnes of cocoa to smuggling in 2023/24 season

Zenith Bank – A leader at 19 shaping Ghana's financial future

This is how SEC will share govt's GH¢1.5 billion to affected investors

Mr Stephen Sapati of the Banking Supervision Department of the Bank of Ghana commended the management of uniCredit for the steady growth the company had achieved since its inception. He said the company’s paid-up capital as of the end of August, 2013 stood at GH¢8.29 million with shareholders’ funds reaching GH¢12.46 million. 

He pointed out that by these indicators, uniCredit had exceeded the minimum statutory capital requirement for savings and loans companies in Ghana, which placed the company in a firm position to withstand unanticipated losses. 

Mr Sapati drew attention to the enormous contribution to the economic development of the country by the non-bank financial institutions (NBFIs).