FirstBank champions resilience, customer trust at banking conference

The Head of Compliance at FirstBank Ghana, Francis Nyamekye, has emphasised the importance of diversifying revenue streams to minimise vulnerabilities during economic challenges.

“Financial institutions must reduce reliance on single revenue sources to mitigate vulnerabilities during economic downturns,” he said.

He was contributing to a panel discussion as part of the 28th Annual National Banking and Ethics Conference in Accra on Thursday, November 21.

The panel discussion was on the theme: “Resilience in the Financial System: Navigating Horizon Risks, Strategies for Financial Institutions”. 

The event which was organised by the Chartered Institute of Bankers (CIB), Ghana, also provided a platform for the panellists to address the critical challenges and opportunities in the sector.

The panel discussion, which was moderated by the Chief Executive Officer (CEO) of CIB Ghana, Robert Dzato, featured leading figures in the banking sector.

Other members of the panel were Head of Risk Management at GCB Bank, Theophilus Aryee; Chief Risk Officer at Fidelity Bank Ghana, Dr David Animante, and the Head of Compliance at Ecobank Ghana, Rolland Djang Jnr.

Mr Nyamekye, who focused his presentation on balancing short-term profitability with long-term sustainability and building customer trust during financial uncertainty, added that FirstBank prioritised innovation and diversification to ensure a stable and resilient financial ecosystem.

Strategies

FirstBank Ghana’s Head of Compliance highlighted the bank’s proactive strategies in addressing emerging risks and its unwavering commitment to customer-centricity.

Mr Nyamekye underscored the importance of integrating long-term strategies into financial decision-making, stating, “At FirstBank Ghana, achieving short-term profitability is not an isolated goal.

It must align with long-term resilience and sustainability. Our strategy incorporates robust risk management frameworks, the adoption of Environmental, Social, and Governance (ESG) principles, and investments in technology to drive sustainable growth while managing emerging risks”.

Confidence

On maintaining customer confidence during uncertain times, he stressed the role of transparency and responsiveness.

“Customer trust is the cornerstone of financial resilience. At FirstBank Ghana, we prioritise transparent communication, ensuring our customers are well informed about market conditions and the measures we take to safeguard their interests,” Mr Nyamekye said.

In line with that, he elaborated on how FirstBank Ghana provides tailored solutions to support customers during challenging periods.

“We offer customer-centric solutions such as loan restructuring, flexible repayment plans and financial literacy programmes to address their unique challenges. By understanding and addressing their needs, we reinforce trust and strengthen our relationships,” he added.

Mr Nyamekye highlighted digital innovation and community engagement as critical components of the bank’s strategy.

“First Bank Ghana continues to enhance the security and functionality of our digital platforms; ensuring customers can rely on seamless and secure transactions. Additionally, our community outreach initiatives reflect our commitment to supporting societal well-being, which further bolsters confidence in our brand,” he said.

Mr Nyamekye said FirstBank Ghana continued to set the standard in the financial services sector, renowned for its innovative solutions, customer-first approach and dedication to sustainability.

The bank, he said, remained a key player in fostering resilience and trust within the industry, driving its vision of sustainable growth and customer satisfaction.

The other panellists brought unique perspectives to the discussion. Mr Aryee focused on robust risk management strategies, while Dr Animante stressed the role of data analytics in identifying and mitigating risks.

Mr Djang, on the other hand, discussed compliance innovations in response to changing regulatory demands.