GCB Bank to Increase SME Support Despite Risks

GCB Bank plans to continue its support for small and medium enterprises (SMEs). The bank's Managing Director, Farihan Alhassan, said this despite concerns about higher risks. He stated the bank's role goes beyond just lending and profit.

Mr. Alhassan noted that GCB sees itself as a key partner in Ghana's economic development. He explained that the bank cannot avoid supporting businesses that are sometimes seen as too risky. GCB plans to work closely with these clients. The goal is to help them improve their businesses. This is instead of avoiding them due to risk.

The bank is committed to building long-term relationships. These relationships are meant to drive business growth. Mr. Alhassan said GCB's aim is to help businesses become strong enough for credit. He questioned who would support struggling businesses if banks like GCB did not.

GCB is also changing how it measures success. The bank's focus is less on just making money. It is more on how much impact it makes and how many lives it touches. Key metrics now include client business growth and job creation. For example, if a business employs 20 people, the bank wants to help it employ 40. This aligns GCB's strategy with Ghana's economic direction. The bank wants to play a role in the productive parts of the economy.