Managing Director of GCB Bank, Farihan Alhassan, says the bank will continue to support small and medium enterprises (SMEs) despite concerns about rising risks and tightening regulations.
Speaking on Joy News’ PM Express Business Edition on Thursday, he stressed that GCB’s role goes beyond lending and profit.
“So we’re not just giving credit to customers, we’re changing people’s lives. So people need us to change their lives, and they have a genuine story to tell.”
He said the bank sees itself as a key player in Ghana’s development and cannot shy away from supporting businesses often considered too risky.
“We are not just any bank; we are Ghana’s indigenous bank. We are Ghana’s number one bank. We have to support those customers. We can’t run away from supporting customers because we think that they are risky.”
According to him, GCB is focused on working closely with clients to improve their businesses rather than avoiding them.
“It’s our job as a Bank to see how we can work with these customers to address some of the risks that we see in their businesses. And so whilst others see them as customers, we see them as partners.”
He emphasised that the bank is committed to building long-term relationships that drive growth.
“We are partners on a journey to growing these businesses, and we have to take that risk on them.”
Mr Alhassan said the bank’s approach is to help businesses become viable and bankable.
“So we’re not going to run away from them because we don’t want to create bad loans. If the business is bad, we would work to make them good so they can assess the credit.”
He questioned who would support struggling businesses if banks avoid them.
“But you just can’t run away from them because you say it’s a bad business. Who then would support those kinds of business?”
He also highlighted a shift in how the bank measures success.
“And don’t forget that our measure as a bank is not in how much money we make, but in how many lives we touch and how many businesses we grow.”
He said the focus is increasingly on impact and growth outcomes.
“As I’ve been telling the team, we need to begin to think about what level of impact we are making, and clients’ business growth.”
He explained that the bank is now looking beyond financial returns to broader economic impact.
“So today, if a business made a profit of GH¢200 million, the question was asking us, how did our support enable that business to meet the ¢200 million?”
He added that employment growth is also a key metric.
“If a business employs 20 people, our concern should be, how then do we support this business to employ 40 people?”
Mr Alhassan maintained that GCB’s strategy aligns with Ghana’s economic direction.
“When the businesses grow, you grow with them.”
He concluded that the bank is deliberately positioning itself within the productive sectors of the economy.
“We believe that GCB is not just any other bank. We have to be seen to play in the real sector of Ghana’s economy, and so we’re just following the economic trajectory of this country.”
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Source: www.myjoyonline.com