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10 February 2017

Heritage Bank launches

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Heritage Bank Limited, which is a wholly-owned Ghanaian bank, has been launched in Accra to add up to the already 34 banks in Ghana.

Former Minister of Finance as well as board chairman of National Development Planning Commission (NDPC), Prof. Kwesi Botchwey is the board chairman of the Bank.

The Managing Director of Heritage Bank, Patrick Edwin Fiscian speaking during the launch said the name is founded on the belief that great and good things can come from within Ghana and that indigenous talent can create a lasting legacy.

According to Mr Fiscian, the economy of Ghana is projected to grow at 7.4% in 2017 and 8.5% in 2018 and the increased economic activity will create the need for additional banking and financial services.

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“Heritage bank therefore will help address this need as well as the unmet needs of the current banking populace and approximately 150,000 graduands are churned out by our local universities on an annual basis and good number of them will become economically significant in the years ahead,” he added.

He continued that there is a projected annual deficit of 20,000 housing units in addition to the accumulated backlog and this point to a shortfall in available financing. This growth therefore suggests that there is and would be a population of individuals and businesses that would require unique banking and financial services.

He revealed further that Heritage Bank Limited is a name that will be synonymous with trust, ethics and sound advice and will be called the listening bank and this exactly what it is and it will listen to the ideas, suggestions and needs of our clients and fully understand them and subsequently craft bespoke banking services to suit each client.

He added: “We trust that in opening a bank at this time, we will be able to address the unmet needs of a discerning banking populace.

“I must say we have invested heavily in our greatest asset that is our people and each member of staff has been carefully selected and is an invaluable asset to the bank and it is our intention to keep it so.”

Mr Fiscian concluded by saying the Bank’s agenda is driven by the HeritageWay, which is an operating framework based on professionalism, responsiveness, innovation, customer centricity and integrity.

“As a world class indigenous bank, our desire is to see our people and country flourish, which is why we are also passionate about being agents of change, positively impacting the lives of the communities we serve. Our corporate social responsibility strategy, reinforces this desire, hence our focus to develop young talent through entrepreneurship and education, health and environmental projects.

“We are then not only building relationships with our clients but also with our communities, contributing to their development and the growth of future generations.

“We are in a unique position to create something great, to create a new way of thinking and a new way of Banking and I believe it’s possible. With Heritage bank if you dream it, you can achieve, it’s possible with us.”

The bank’s board chairman, Prof Kwesi Botwchey, was hopeful that Heritage Bank would thrive in a fairly stable macroeconomic environment.

He said: “We have all faced challenges over the past few years, challenges of restoring macroeconomic stability. We are happy by the pronouncements by the new Finance Minister, who is reported to have said that even as the new government pursues its programme for employment generation, it will continue the unfinished business of fiscal consolidation and stability of our macroeconomic environment.”

“We see the gross prospects of the economy as excellent and, therefore, we are hopeful that we will be operating in a macroeconomic environment that wouldn’t be saddled with too many challenges.”

The Govenor of Bank of Ghana, Dr. Abdul-Nashiru Issahaku commended Heritage Bank for Assembling such experienced Technocrats as Board Members.

He called on the Bank to become a friendly bank and also called on other banks to prepare for a new capital requirement to be introduced by the Bank of Ghana (BoG).

 

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