Accra, Jan.18,– Professor Bill
Puplampu, the Chairman of Board of Directors, the Royal Bank, has called on the
Bank of Ghana (BoG) to consider a variation in the minimum capital requirement
to meet the needs of local and indigenous banks in the country.
He said the BoG should give the
local banks more time to meet the capital requirement instead of the December
2018 deadline.
Prof Puplampu was speaking at the
Bank’s fifth anniversary launch in Accra to commence the celebration of a
month-long event.
On how the Royal Bank would meet
the GH¢400 million minimum capital requirement, the Board Chairman said the
Board and management were discussing various levels available to them to meet
the deadline.
He assured the Bank’s consumers
and shareholders that come December 2018, the Bank would still be around to
serve them better.
He said the past five years had
been eventful for the Bank and the Foundation laid, adding that, last year,
shareholders of the Bank reconstituted the Board to give a new direction to
their operations.
“The Board is working assiduously
and we hope to see the positive results soon,” he added.
He said in 2014, through the
vision and instrumentality of the Founder, Alhaji Dr Adamu Iddrisu, the TRB
Foundation, now Alhaji Dr Adamu Iddrisu Foundation, was inaugurated to provide
relief in the area of Water and Sanitation, Health, Education, Culture and
Sports to deprived communities.
He said since its establishment,
the Foundation has provided over 120 boreholes to 115 communities across the
country under its flagship “water for life” project.
He said in spite of their humble
beginnings and few years of existence, the Bank has been blessed with 13 local
and 5 international awards.
Prof Puplampu said the future of
the Bank was very promising and bright, having grown from a single branch in
2012 to 26 branches in 5 years, and that, the years ahead looks very bright.
“Our assurance to our customers
and other stakeholders is that; we will continue to improve on our services and
develop products to serve their changing needs and wants,” he added.
Mr Osei-Asafo Adjei, the Managing
Director of the Bank, said during the five years of operations, the Bank has
created jobs, provided support to businesses, especially small and medium
enterprises and ultimately helped to deepen financial intermediation in the
country.
He said all these could not have
been achieved without the support of their shareholders, Board of Directors,
Management, Cherished Customers and the hard working staff.
“We appreciate your immense
support, which has helped us to make significant strides within the Ghanaian
Banking Sector,” he added.
Activities for the month-long
celebration includes Muslim prayers at the Global haulage mosque, donation to
Pantang Mental Hospital, free health screening for traders at the Ashaiman
Market and workshop on SME.
The fifth anniversary
celebrations will be climaxed with a thanksgiving service for the entire
management and staff of the Royal Bank at the forecourt of its head office.
GNA
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