A former Deputy Governor of the Bank of Ghana, Daniel Aseidu-Mante have said contrary to suggestions that there are too many banks, the economy still has room to accommodate more.
His comments come on the back of recent discussions that the country’s 26 banks may be too many for an economy such as Ghana’s.
Speaking to Joy Business after a forum organised by SOFGEN for bankers on risk management, Mr. Aseidu-Mante said there might be room for some few more because of new entrants are doing.
Mr. Aseidu-Mante said competition in the sector is making banks more responsive to customer needs and has translated into improved services.
He recalls “not too long ago banks sat in the offices and customers had to go them to do business but today relationship managers are “chasing customers” because of competition.