Staff of the company took Tema by storm on the morning of Monday, August 15, 2011 with a float through the principal streets of the industrial city to their new branch office, off Meridian Road in Tema Community two.
The plush Tema branch building is adjoined by three warehouses, each measuring 1,880 square meters, also owned by NDK for the purposes of providing warehousing services to customers, and non-customer importers and exporters.
Chief Executive Officer of NDK, Mr. Oko Nii Koi Djanie told journalists the move to Tema was because NDK had lots of its corporate clients either based in Tema or are operating a great chunk of their businesses from Tema.
He said moreover “there are lots of businesses in Tema, the ports are booming both here and Takoradi – the oil find has increased the volume of business here and we want be part of the growth.”
Mr. Djanie said lending had always been the core business of NDK and they would continue with that plus a fall back on their warehousing services, which would enable them provide proper security for the businesses they finance.
He noted that the warehousing facility gave NDK an advantage over competition because it assured the customer of competitive charges.
“Our interest rates are little bit higher than the banks because we borrow from the banks but there are no overheads so it makes ours very competitive,” he added.
The Tema Branch Manager, Crispina Crankson said the branch would begin with loans and investment opportunities for persons and companies who want to invest their moneys in a viable business.
She said we have a staff of 22 manning a credit department, accounts department and an investment department for starters.
Crispina Crankson assured customers and prospective customers that NDK would remain a listening institution and also support customers to make strategic investments in order to grow their businesses.
“NDK is not in the practice of chasing customers to the extent of selling their properties to defray debt, but we rather help our customers with sound financial and investment advice so they can make profit for both of our businesses to go on,” she said.
Dr. H. A. K. Wampah, Deputy Governor of the Bank of Ghana, who cut the tape to commission the new office, lauded NDK for exceeding the 2012 minimum capital requirement for non-banking financial institution.
He noted that the minimum capital requirement for 2011 was GH¢4 million and that for 2012 was pegged at GH¢7 million, but NDK had already deposited GH¢9.8 million with the BOG, which gave it the strength to manage risks better and remain solvent.
“It is my hope that other financial houses in the country will meet the revised statutory minimum capital before the deadline,” he said.
Dr. Wampah also lauded NDK for its corporate social responsibility contributions to the development of health, education and sports sectors of the economy, mentioning its support for breast cancer patients, scholarships for schools in Osu and support for hockey.
Dr. Wampah however charged NDK and other financial institutions to avoid high performing loans with the potential of eroding capital base, high cost/income ratio which adversely affects profits, adopt standard know your customer (KYC) practices through due diligence, and uphold the principle of transparency.
Dr. Nii Amo Darko, a Member of the Council State urged the staff to be honest with customers, and urged customers to also be committed to paying back their loans.
By Samuel Dowuona