UMB Bank Set To Transform SME Banking

Baffour Owusu Amankwatia VI cutting the tape to officially open the new office

UMB Bank, a leading bank in the country, has opened a centre for businesses in Kumasi.

Located on the Ashanti New Town (Ashtown) road in Kumasi, this innovative centre will set a new standard in the delivery of SME banking services and enhance the competitiveness of UMB Bank in the SME segment.

Speaking at the inauguration of the centre, Chief Executive Officer (CEO) of UMB Bank, John Awuah, recounted UMB Bank’s long and proud history of developing businesses in Ghana and stated that the bank is poised to restore its leadership position as the preeminent financial partner for businesses in Ghana.

He further stated that another centre will be opened in Accra before the end of the year and that in the next five years, the bank will open similar centres in other parts of Ghana, and the UMB Centre of Businesses will become a permanent and differentiated beacon in SME banking in Ghana.

“SMEs are unique and face peculiar challenges and that is why we have taken the bold step of setting up an operational infrastructure outside of our normal banking operations to cater exclusively to the needs of SMEs” stated Mr. Awuah.

According to Mr. Awuah, the UMB Centre for Businesses is not a UMB bank branch, but the cradle for developing all categories of businesses and entrepreneurs “from the woman who sells used clothing to the young technology entrepreneur who has the next billion cedi idea.”

Head of Business Banking of UMB Bank, Ernest Tetteh, also stated that “at UMB, we take a more holistic approach to SME banking by providing both financial and non-financial solutions.”

According to Mr. Tetteh, “We cannot grow SMEs by simply advancing loans to them and that is why the UMB Centre of Businesses will also provide world-class advisory services in areas such as corporate governance, business strategy, internal controls, business development initiatives, marketing and succession planning, among others.

Customers of the centre will have access to dedicated and experienced relationship managers and credit analysts.

They will also enjoy quick transactions and the utmost convenience and confidentiality.

A business desk report

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