GCB launches two new products

Story: Boahene Asamoah

THE Ghana Commercial Bank, the largest bank in the country in terms of branch network, has launched two new products as part of its strategy to further consolidate its position in the financial sector.
The products are the Royal Banking Service and the Commernet Plus, an electronic banking service.
Launching the products in Accra yesterday, the Managing Director of the Bank, Mr Lawrence Adu Mante, acknowledged the changing landscape of the financial sector in the country in terms of competition.
He said “ today’s banking landscape is paving way for customer empowerment where transactions and processes are being executed with increasingly little human intervention.”
Mr Adu-Mante said the Commernet Plus which was an Internet banking service was a secure site created for banking transactions which allowed the Internet registered customer to perform banking transactions.
The service also offers the viewing of details and initiative instructions, funds transfer, viewing loan account details, request for statements and cheque books, among many other functions, he stated.
“Commernet Plus is a fast and convenient way of keeping in touch with your accounts 24 hours a day, seven days a week and in fact every day throughout the year”, Mr Adu-Mante emphasised.
He noted that consumer Internet banking with its ability to reach every part of the country was of great importance to the nation and the bank, which had presence in almost all the districts in the country.
Touching on the Royal Banking Service, he said the service was not limited to the rich and affluent in society, but targeted at all businesses, entrepreneurs, students, lecturers and the general public.
He said Royal Banking customers would benefit from such service as expedite banking services, extended banking hours, access to direct service from the branch manager and free monthly statements, among others.
The bank has established a new office at Osu as the hub of its Royal Banking Services. Other outlets include the High Street branch, Burma Camp, Tantra Hill, Tetteh Quarshie, Tema Main, Harper Road, Adum and Takoradi branches.
A deputy Minister of Finance and Economic Planning, Prof George Gyan Baffour, commended the bank for its initiative to reach out to more customers through the new products.
That he said fell in line with the government’s policy of deepening the financial intermediation of the financial sector to be more proactive.
The Head of Banking Supervision of the Bank of Ghana, Mr Dela Selomey, reiterated the up-coming electronic platform called the e-Zwich, which he said would rope in more of the unbanked public in the financial sector.
He also commended the bank for networking all its 137 branches throughout the country, as that feat would enhance financial service delivery in the country.
The Ga Mantse, King Tackie Tawiah III, called on the bank to lead the way to support Small and Medium Scale Enterprises (SMEs) to propel the economy to grow.
He added his voice to calls for banks to reduce their interest rates to facilitate credit to the private sector and hence ensure rapid development of the economy.