Business News of Monday, 26 May 2014


Pay loans promptly – uniCredit MD

The Managing Director of uniCredit, Mr Stephen Ameyaw, has advised individuals who benefit from credit facilities from financial institutions to honour their obligations within the agreed schedule.

He said such prompt repayment of loans would enhance the relationship between them and their bankers.

Mr Ameyaw gave the advice at the inauguration of the branch of uniCredit at Tafo in Kumasi.

The Tafo branch is the 11th to be opened by the company in the country. The company currently operates in the Western, Ashanti and Greater Accra regions.

uniCredit, formerly Kantamanto Savings and Loans Company Limited, was licensed by the Bank of Ghana in 1995 to operate as a non-bank financial institution under the Financial Institutions (Non-Banking) Law,1993 (PNDC 328).

With approval from the Bank of Ghana, the name of the company was changed from Kantamanto Savings and Loans Company Limited to uniCredit Ghana Limited in March, 2007.

Mr Ameyaw said banks and other financial institutions held monies in trust for their customers and other investors.

He further advised small and medium scale enterprises (SMEs) to adopt a healthy record keeping culture to ensure proper management of their businesses, especially when dealing with financial institutions.

Mr Ameyaw further assured the people of Tafo in particular and Kumasi in general that uniCredit would continue to provide the appropriate mix of products and services that would be responsive to the changing customer demands and requirements while ensuring the provision of convenient, accessible and comfortable banking environment for quality service delivery.

On the collapse of microfinance institutions in the country, particularly in the Ashanti Region, Mr Ameyaw assured the public that uniCredit had put appropriate structures in place to be able to withstand any unforeseen shocks.

He said uniCredit had come to stay as evidenced from the various investments the company was making across the country to improve outreach, customer growth and deposit mobilisation.