Investment bank, Databank Financial Services has denied social media claims that it has started dealing in gold collectibles following the collapse of Menzgold Ghana Limited.

The firm said in a statement signed by its Chief Marketing Officer, Gillian Hammah that it is not into gold collectibles and does not intend going into such business.

“It has come to our attention that pronouncements have been recently made in the press claiming that Databank is dealing in gold collectibles.

“We would like to assure our customers and the Ghanaian public that this claim is FALSE. We are not licensed to deal in gold collectibles, have never done so, and do not intend to deal in gold collectibles”, the statement noted.

Databank said it remains focused on its investment operations which include selling shares, treasury bills and bonds, as well as managing mutual funds, pensions and institutional funds, adding that it has no intention of compromising its professionalism and financial sustainability.

“Databank is a professional investment bank that is licensed by the Securities and Exchange Commission, Ghana (SEC) to sell shares, treasury bills and bonds, as well as manage mutual funds, pension and institutional funds.

“We remain committed to our core mandate of managing the funds of our investors in prudent ways that are sustainable over the long term, as well as providing ¬financial education to all Ghanaians.

“We want to assure all clients and the general public that we have not and will not engage in any practices that compromise our commitment.”

About Databank

Founded in April 1990, Databank seeks to empower its customers to achieve financial independence by providing financial education and offering a diverse range of investment products.

Investors can access fixed-income investments (including treasury bills), trade shares listed on the Ghana Stock Exchange and enjoy corporate governance advisory services through our brokerage wing.

Through our asset management wing, investors can access mutual funds such as Epack, MFund, BFund, ArkFund and EdIFund, institutional fund management for corporate, benefit¬t and endowment funds, pension fund management and private wealth management services.

Databank also has its headquarters in Accra and other branches in Ho, Koforidua, Kumasi, Takoradi, Tamale, Tema and Sunyani.