Stanbic Bank offers over GH¢1 million towards coronavirus fight

Stanbic Bank Ghana has made a total investment of GH¢1.3 million to support ongoing national efforts to contain the spread of Coronavirus.

This was revealed when management of the bank donated 300 Personal Protective Equipment (PPE) to the Korle-Bu Teaching Hospital in Accra on Monday, 6th April 2020.

Stanbic Bank’s COVID-19 intervention will also include a donation of an additional 200 PPE to hospitals and medical centres in the country, procurement of 5,000 complete testing kits and sourcing of ventilators for the country through the United Nations Office for Project Services (UNOPS).

Speaking at the short donation exercise, Head of Marketing and Communications of Stanbic Bank, Mawuko Afadzinu said the severity of the impact of the COVID-19 places a responsibility on everyone to ensure that the situation is contained.

“This is a time for collective responsibility where a successful fight against this pandemic requires that we all do our part; whether in respecting lockdown protocols or contributing in various ways to stem the spread of the virus. For us at Stanbic Bank, we believe Ghana is our home and our commitment to drive its growth will continue to find expression in interventions such as this support for the fight against the COVID-19 virus”, Mr. Afadzinu said.

In addition to the donation, the bank has launched an initiative that is encouraging staff to commit at least a percentage of their salaries to the COVID19 Fund called the ‘All for One, One For All’ campaign.

Top executives of the bank have committed 30 percent of their salaries for the next three months while other employees have committed 10 percent of their salaries each.

Additionally, Stanbic Bank has rolled out many interventions to reduce the financial burden on customers and enhance the ease of doing business as the country fights to control the spread of the COVID-19 in the country.

The measures include a capital moratorium to customers upon request. This means that customers who have active loans with the bank can pay only the interest on the loan and not the principal amount for an agreed period.

Further, Stanbic Bank customers would enjoy a 2% reduction in interest rates.

Over and above these, the bank has reduced charges on all its cards to encourage the use of e-payments outlets. Currently, the loading of cedi component on Stanbic Bank’s Money Wallet card is free. Stanbic Bank is actively driving the use of its digital channels as a way of keeping customers safe.

Customers can effectively make all payments and banking enquiries in the comfort of their home using Stanbic Bank’s digital channels, with limited trips to the ATM, without having to go to a physical branch.

The Bank has also increased its ATM cash withdrawal limit to GH¢10,000 in a bid to limit in-branch transactions even for customers who need bulk cash.

Consequently, the bank has increased protection at all ATM sites across the country.