GHL Bank receives $15 million boost for mortgage loans


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Accra, June 18, GNA – GHL Bank has received
$15million from the African Development Bank to boost access to home ownership
for lower-middle to middle-income Ghanaians.

The move will further entrench the GHL Bank’s
market leadership for providing affordable housing in Ghana and help Ghanaians
in these income brackets to actualise their dreams of owning a home.

A statement issued by GHL Bank s

Accra, June 18, GNA – GHL Bank has received
$15million from the African Development Bank to boost access to home ownership
for lower-middle to middle-income Ghanaians.

The move will further entrench the GHL Bank’s
market leadership for providing affordable housing in Ghana and help Ghanaians
in these income brackets to actualise their dreams of owning a home.

A statement issued by GHL Bank said the credit
would go towards developing an effective, affordable mortgage finance sector,
where the ripple effects will have a positive impact on the housing industry
value chain.

One of such projects, aimed at providing
quality affordable housing for all, was the Affordable Housing Facility
Project, being undertaken in partnership with Apollonia City to construct 100
affordable homes by the end of 2018.

Since 2006, GHL Bank, formerly specializing in
just mortgage financing, has disbursed over US$200 million in mortgage loans
benefitting more than 3,000 households in Ghana’s urban and suburban centres.

Mr Dominic Adu, Chief Executive Officer of the
GHL Bank said the Bank was demonstrating financial viability, ahead of the Bank
of Ghana’s (BOG) GH¢400m capital requirement deadline in December 2018, and
assured its clients and partners that the GHL Bank would have no difficulty in
meeting all conditions stipulated by the Central Bank.

“Since launching as a one-stop full service
universal bank, GHL Bank has and continues to undergo rigorous implementation
of technology, innovation and digital banking services to cater for the
much-anticipated growth in clients, business opportunities and the ever-growing
demand for home and property acquisition,” the statement noted.

GNA


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