UniBank Ghana Ltd, a small and SMEs-focused bank, is upbeat about becoming a leading bank in the trade finance products and services market of the banking industry.
The bank, which was winner in the trade and finance category of the Corporate Initiative’s Ghana Banking Awards in 2005, has been upgrading skills and knowledge of staff, invested in systems and procedures and lending itself to much exposure in order to position it for its ambition.
UniBank currently offers all the traditional trade finance products, ranging from open account, pre-payment, establishment of letters of credit as well as documentary collection.
In an interview, Mrs. Ophelia Opoku-Ansah, Head of Trade Finance at Unibank, pointed out that their speedy but excellent service to customers, clearly distinguishes them from the rest on the market.
“Our customers give us feedback, and we know that it takes the shortest time to establish letters of credit with uniBank trade finance. Our customers do not queue to process transactions; same day transfers, a service quality which has become common with our products, is scarce to find in other parts of the industry,”
“This has given meaning to our competitive edge in the market; thanks, however, to our correspondent banks in the US and Europe that have made it possible because of their reliability,”
Mrs. Opoku-Ansah stressed that another reason why customers prefer uniBank’s trade finance products and services is because of their reliability, since they have been deliberately developed to function within the confines of the requirement set by the international chamber of commerce rules and regulations.
Revenue made by the Bank from its trade finance line of operations increased by 106 percent in 2009 over the previous year. The Bank charges very competitive rates on deals concluded with clients, making sure that it beats the industry, which currently charges between 0.5 % and 1% on any value sealed. Rates are negotiable at uniBank.
UniBank presently supports a customer base of about 8,000 exporters and importers. The importers cut across all categories of imports; however a niche is being developed for the export market. Mrs. Opoku-Ansah said at the moment, the Bank’s focus clientele base in the export segment are the shea-nut exporters, scraps, cashew, yam and wood exporters but the Bank is steadily developing a niche for the cashew market.
“Since we are concerned about the national economy, the Bank tries as much as possible to ensure that value created from exports balances with what is created from the imports. This also helps the bank to manage foreign exchange requirements in a way that is not adverse on its books,” Mrs. Opoku-Ansah said.
She disclosed that the Bank has been taking keen interest in the operations of its customers. Exporters in particular are educated regularly in helping them to lift up the quality of products and aesthetics as they pertain on the international demand market.
In the short to medium-term, uniBank targets increased volumes in its trade finance segment of business while eyeing the ultimate winner in the Corporate Initiative’s trade finance award.
Source: Business & Financial Times
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
We’re happy the NPP is resetting to support Mahama in rebuilding Ghana – NDC
46 minutes -
Don’t alienate Kufuor, Akufo-Addo from party, you need them to build strong opposition – NDC tells NPP
48 minutes -
The Rise and Fall of Bedroom Commandos: A National Tragedy in Three Rounds
49 minutes -
Data must be treated as “core infrastructure” to achieve SDG 8 – Government Statistician
1 hour -
Rugby Africa Cup: Final set for Men’s Rugby World Cup spot as Senegal & Algeria seal wins
1 hour -
Trump sues Murdoch and Wall Street Journal for $10bn over Epstein article
2 hours -
The entire National Cathedral project is a crime scene – Dr. Arthur Kennedy
2 hours -
Follow Jesus, Follow the Apostles – Bishop Suku Chea charges newly ordained ministers
3 hours -
Bawumia accorded thunderous welcome at NPP conference
3 hours -
Clergymen who soiled their hands in National Cathedral scandal will never be forgiven – Kofi Bentil
3 hours -
National Cathedral: Prosecute those who spent the money – Kofi Bentil
3 hours -
Global HR Icons headline Global Conference on Human Resources in Africa (GCHRA 2025)
3 hours -
Stop the charade, go ahead and prosecute all who misused our money on National Cathedral project – Kofi Bentil
3 hours -
Pick the leader first, let him choose his team – Kofi Bentil to NPP
3 hours -
NPP didn’t sideline Kufuor – Joe Wise
3 hours