FirstBanC Targets GH¢1bn By 2019

INVESTMENT banking firm, FirstBanC Financial Services is to increase funds under management from the current GHC250 million to GHC1 billion in the next five years.

Managing Director of FirstBanC, Mrs Kokui Adu disclosed this to The Finder at the fifth anniversary celebration of the bank in Accra.

She said FirstBanC’s money market mutual fund has over 10,000 clients and returned 35% interest last year.

Mrs Adu noted that microfinance institutions, especially savings and loans companies, defrauding their customers presents investment banks like her company an opportunity to reach out to such people with the appropriate products.

She explained that the company has intensified education on the importance of investment, because the culture of savings was poor among Ghanaians.

She stated that one of their major problems as a new company at the early stages was building the brand to become a household name that it is today.

She was optimistic that FirstBanC has a sound footing to grow in leaps and bounds to become the leading investment bank in the country.

Mrs Adu promised that FirstBanC would offer clients the best of services.

Group Chief Executive Officer (CEO), Mr Mawuli Hedo said the company was celebrating the difference in the financial services sector in the country.

He said creative products and services of FirstBanC, including two mutual funds, have become household names and assets under management grew faster than expected.

Mr Hedo was proud that FirstBanC, though young, has groomed some of the best analysts in the country at the moment.

Individual and corporate clients were presented with citation for keeping faith with the company.

Some dedicated staff members were also rewarded for their contribution to the development of the company.

The group CEO, assisted by board members and senior staff, cut a cake to mark the anniversary.