MORE BANKS GO TO TAMALE (PAGE 29)

Story: Zakaria Alhassan, Tamale

THE prevailing growth of business enterprises and vibrant commercial activities in the fast-growing Tamale metropolis is now attracting the attention of the banking sector.
As a result, a number of private banks have established branches in the area while others have also expressed their desire to extend their services to the northern regional capital to take advantage of the existing commercial boom.
The only problem that seems to be delaying the speedy opening of the branches is the lack of suitable office accommodation in the central business district (CBD) of the metropolis.
The banks could, however, be sited at other busy suburbs to decongest the CBD and also make their services accessible to people in those areas.
Indeed the management of Ecobank has taken a bold step by preparing the grounds for their offices at the Gumani Junction where there is the conglomeration of NGOs and other offices.
Among the private banks that have already opened branches at the Tamale central market square are Home Finance Company (HFC) and Amalgamated Bank.
Other banks that are gearing up are Stanbic, Zenith Ecobank which are working around the clock to complete work on their new buildings. The Intercontinental Bank has already commenced business and awaiting official inauguration.
The Divisional Head, Operations and Controls of Intercontinental, Mr Taslim Wintope, explained that Tamale is the gateway to the north and the Sahelian regions.
‘‘And what informed our decision is that, the people deserve nothing but a world-class banking, and we will not rest until we satisfy the needs of our customers’’.
The Ghana Commercial Bank (GCB) also intends to establish more branches in the metropolis in addition to the two existing ones. Other banks that are already in business in the area are the National Investment Bank (NIB), SG-SSB, Standard Chartered and Barclays.
Some of the old banks such as Barclays have renovated their premises and given them a befitting facelift for modern banks that are poised for the competition.
Unfortunately, little has been done by the management of the Standard Chartered Bank to modernise their colonial building which is at a strategic location but lacks adequate parking space.
The Tamale Metropolitan Chief Executive, Mr Mohammed Amin Adam Anta, said everything was being done to assist the private banks to get office accommodation ‘‘because we believe that, the proliferation of banks in the metropolis would engender competition that could lead to the reduction of poverty.’’
He urged them to introduce innovative products and services that would be attractive to the general public.
Most residents have also expressed satisfaction with the new development which they said would offer them a choice to go in for the best.
Ms Hannah Dzekoe, a student, observed that, ‘‘long queues are still being formed at some banks, especially at the end of the month , but with the proliferation of the new banks, some customers will now have options and that will end their frustrations.’’