HFC Bank Starts New Journey

Robert Le Hunte
Ghana’s leading mortgage bank, HFC Bank has started a new journey to become the leading bank on the African continent.

HFC Bank is now a subsidiary of one of the largest banks in the Caribbean, Republic Bank of Trinidad and Tobago (RBTT), whose robust and dynamic approach and experience in the banking sector is set to catapult HFC to the top.

Robert Le Hunte, Managing Director (MD) of HFC Bank, said RBTT has so far invested over $75 million in the acquisition of about 57.11 percent shares of HFC Bank.

Mr Le Hunte, who spoke at a media interaction in Accra on Tuesday, said the transaction became possible because of the conducive investment climate in the country and pledged that the bank’s new management would continue to build on HFC Bank’s past achievements and the foundation that had been laid.

He reiterated that though there would not be any staff retrenchment, there would be rigorous training for the staff to maximize their potentials and make them more efficient to be able to make it one of the top three banks in the next three years.

He said some of the staff would be selected for training with the mother bank in Trinidad and Tobago, adding that a training team would visit Ghana from that country to sharpen the skills of the staff here.

He stressed that HFC Bank would not be rebranded since it is well-known in the country after 25 years of operations in mortgage financing.

The bank, which has over 40 branches in seven regions across the country, is preparing to enter the eighth region.

Mr Le Hunte pledged that the bank would continue to play a leading role in mortgage financing, introduce new products and may venture into the oil and gas sector.

He revealed that the bank does not charge its clients for using its ATMs anymore in response to a directive from the Bank of Ghana (BoG).

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