GCB to launch automated SME loan facility

Simon Dornoo - MD of GCB
Simon Dornoo – MD of GCB

GCB Bank Limited would by the end of 2013 launch a new automated Small and Medium-scale Enterprises (SME) lending facility to achieve a faster turnaround time for processing SME loans.

Consequently Government had advised management of the Bank to roll out financial lending instrument to SMEs, particularly those exporting their goods and services outside the country, to enable the enterprises to contribute towards socio-economic growth.

Mr Seth Tekper, Finance Minister who gave the advice at the weekend expressed optimism that GCB Bank Limited would lead in export finances to SMEs.

He was speaking at the Bank’s 60th Anniversary Awards and Dinner Dance organized in Accra.

“We will be happy to see GCB lead in export finances to SMEs even as the country considers its diversification and value addition in agro-processing and in downstream petrochemical industry”, he said.

He lauded the Bank for investing in technology to launch an automation of credit review for her SME customers, aimed at delivering superior turnaround time in decision making and improving access to much needed finance.

Mr Tekper expressed the hope that the Bank could contribute to stabilize the value of the cedi and boost the country’s economic gains through the support to SMEs.

He praised management for their efforts aimed at rebranding the Bank, credit support given in strategic areas of the economy as well as the company’s corporate social responsibilities.

Mr Simon Dornoo, Managing Director of GCB Bank Limited said management aims at radically improving customer service to sustain growth.

“This also includes modernizing and optimizing our branch networks to improve customer service delivery,” he added.

Mr Dornoo said the Bank is determined to implement a framework that promoted individual and team success by aligning individual objectives and rewards with the goals of the Bank.

“Some other initiatives taken to ensure we deliver consistent performance, include assessing and closing gaps in our product offering, expanding our automated teller machine network and introducing alternative channels, such as internet banking, Short Message Services banking and Point of Sale terminals aimed at promoting self-service banking”, he said.

Source: GNA

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