Mr. Socrates Afram, the Deputy Managing Director of GCB Bank Plc in charge of Finance, has urged banks to be cautious in granting credit, noting that the time is not right for financial institutions to be very aggressive and bullish on granting credit.
Mr. Socrates Afram explained that now is not the time because of the challenges the economy is going through. He stressed that banks have to be cautious in granting credit in order not to disturb the market, saying “when things normalise we can come back and do greater works.”
“But in the midst of these challenges, there are pockets of opportunities, and it is up to us by working with our customers to find those opportunities and help so that we can all go through all these seamlessly without disturbing the stability of the bank.”
Mr. Socrates Afram
Ghana Club 100 Awards
Commenting on the Ghana Club 100 Awards held in Accra in which GCB Bank Plc emerged tenth in the rankings of the 100 companies which participated in the award, he appreciated GCB Bank for leading the banking and financial industry in the ranking.
Meanwhile, the bank was also rewarded for its outstanding performance in growth, profitability, size and contribution to community development. Quizzed on what the award meant to GCB Bank Plc, Mr Afram noted that GCB Bank Plc is excited about the awards and not worried about the position. “For us, it is not so much about the position, but building a sustainable bank that can support Ghanaian businesses and individuals to achieve their financial objectives,” he said.
“So for us, the recognition of the fact that we have shown profit, we have grown, we are committed to corporate social responsibility, those are things that matter to us. So, it is not much about the position, but what contribution we can make for businesses to thrive, and for our brothers who have completed universities to get jobs to do, and individuals who are working and have various needs, we support them to meet their financial aspirations. That is what is most important to us.”
Mr. Socrates Afram
The Deputy Managing Director in charge of Finance further indicated that the objective of the bank is to build a sustainable bank to support businesses and the development of the country.
“For us, it is the question of sustainability. We are going through turbulent times as a nation, so as a bank our focus today is how we build a resilient bank that would survive and go beyond these turbulent times so that we can continue to play our part as the biggest financial institution to support Ghanaians to achieve their financial objectives.”
Mr. Socrates Afram
Mr Afram noted that the GCB Bank Plc was established to support indigenous Ghanaian businesses with financial resources to be able to thrive in business.
“And so that mandate has not been lost on us. The key for us is that in this difficult times, can we still see opportunities, there are selected opportunities, and there are businesses we can pick and support.”
Mr. Socrates Afram
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