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Business News of Tuesday, 10 November 2015

Source: GNA

UMB holds seminar for customers

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The Universal Merchant Bank (UMB) has organised a day’s seminar for its clients in line with its continuous efforts to deepen its client relationships and understanding of its operations.

The seminar dubbed “Enhancing your trade business in partnership with UMB” sought to illustrate the Bank’s ability and willingness to assist its clients in achieving their business goals and objectives from a trained business perspective.

Mr John Awuah, the Chief Executive Officer, UMB, in his welcome address said the seminar would present to participants the many ways in which the Bank could enrich their respective businesses.

He said UMB had always been committed to the needs of the business communities and in particular those with whom they conducted their business.

“Today’s programme is one of many new initiatives that we are undertaking to better serve the business community at large and the small and medium scale enterprise communities in particular.

“We understand that you have unique business requirements and needs, and in the near future we will be unveiling new products and programmes that are all targeted to help you grow your businesses,” he stated

Mr Awuah said in addition to seminars and events, the bank would be introducing various services and programmes that would provide the clients with the necessary support that would take their businesses to the next level.

“At UMB, we consider ourselves fortunate to be partners and we want to make sure that your relationship with us is a fruitful one.

“I have been in the financial system for some time and it is clear to me that a successful financial institution is one that partners with its clients to help them to achieve their goals and objectives,” Mr Awuah said.

“For it is only when you are successful that we can begin to count our successes,” he added.

He said the importance of the success of the small and medium scale enterprises in contributing to the success of the growth of the nation cannot be overemphasized; declaring that “the UMB, don’t just pay lip service to the SME sector, we demonstrate our commitment by engaging you and working with you in our mutual interest”.

The Chief Executive Officer said: “Your ingenuity, daring enterprise and hard work are laying foundation of a bright and promising future for all Ghanaians.

“At UMB we view it our duty and responsibility to what we can to contribute to your growth and the growth of the SME sector.”

Mrs Rejoice King, the Head, Trade Products, UMB, took the clients through the topic “Methods of Payment in Trade Finance” in international trade and the various risk associated with it.

While Mr Emmanuel Nii Ankrah, the Director, UMB Treasury, spoke on “How to Mitigate Forex Risks in Your Trade Transactions”.

Mrs Theodore Laryea, the Head, Corporate Credit, UMB, handled the topic “International Trade Finances and Products”.

Some participants appealed to UMB and other banks to accept government’s letters of assurances for payments on contracts their firms were executing; so that they could be in a position to acquire loans for their projects.