HFC Bank says operations still solid in spite of boardroom wrangling


HFC Bank is assuring the public and its customers that the recent boardroom wrangling did not have any negative impact on its operations.

The power struggle between its shareholders and some management of the bank which dragged on for almost a year, came to an end just last month after an intervention by the governor of the Bank of Ghana.

The development resulted in its share price losing some value; there were even reports that its deposits have been affected.

But speaking to Joy Business after the launch of HFC Bank’s VISA cards, Executive Director, Charles Ofori-Acquah said the claim that its deposits have been affected is not accurate.

He maintained that its financial shows a different picture.

“Our first quarter figure will come out and it will show that really this bank is still strong…I can assure you that this bank is growing, this bank has not dipped in any area of our operations…we are signing up new customers all the time, business is good, within the Ghanaian environment I think that this bank is doing very well.”

The introduction of the VISA cards is part of the bank’s plan to offer a variety of products to meet the growing needs of the banking populace. 

HFC will in the coming weeks embark on a series of activities to celebrate 25 years of existence. 


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