CBG Pledges To Deepen Investment in Digitization, Upscale Support To SMEs And Prioritize Customer Service
The Managing Director of the Consolidated Bank Ghana, Mr Daniel has reiterated their pledge to deepen investment in digitization, upscale support to SMEs, and further prioritize customer service, and operational efficiency.
According to him, their overriding ambition is to build market leadership in SME financing while building a resilient institution.
He explained that, in the SME sector, CBG has played a pivotal role, providing GHS1.6 billion in loans to over 5,600 businesses, introducing innovative programs such as the 'CBG SME Adesua Series, and optimized loan processing for swift access which has earned them recognition including the 'Euromoney Award for SME Market Leadership' in 2022 and 2023.
In his presentation during a press engagement with The Management of the Consolidated Bank Ghana, LTD, Mr Daniel Addonoted that in the Corporate and Institutional Banking segment, CBG has participated in loans totalling
GHS 2.35 billion, either as lead arranger or transaction advisor, benefiting crucial sectors like energy, tourism, and agriculture.
He also stressed that the Bank’s commitment to community impact is evident through various CSR initiatives, focusing largely on health and education.
“To position the bank for further growth, and to restore balance sheet resilience, the Ministry of Finance (MoF) recently provided GHS 2.5 billion Ghana Cedis in capital to the Bank. The Bank is therefore solvent and liquid to discharge its core mandate of financial intermediation without any challenges. It is therefore ideally positioned to continue its growth trajectory and most importantly to continue to make a positive impact on the economy” he said.
Mr Daniel Addo hinted that CBG is well positioned this year as they have met the regulator's capital requirement and will hugely support agriculture in a big way to grow Ghana’s Agric portfolio
He also used the opportunity to announce CBG’s five-year milestone as a market leader in Ghana’s banking industry and highlighted some achievements within the space of 5 years.
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