UMB Ghana Targets Tier-One Status through Tech, Innovation As It Celebrates 45th Anniversary

Universal Merchant Bank (UMB) is to maintain a cautious approach to grow the bank among the top largest financial institutions in the country by 2020.

Towards that end, the bank is consistently investing heavily in cutting-edge technology to support its products and service offering to its customers.

“We are deploying technology-based solutions to drive financial inclusion and grow the bank’s financial strength into a Tier 1 status by 2020,” the Chief Executive Officer (CEO) of UMB, Mr. John Awuah, told the media on the sidelines of the bank’s 45th anniversary celebration gala held last Friday in Accra.

“We have a strong agenda for 2020 and the building blocks were laid in 2014. We are far advanced in all the things we set out to do and I can confirm that we are on track.”

Mr. Awuah reiterated that the bank would complete its medium-term plan of becoming the foremost leading financial institution in the country by focusing on innovation driven by technology and supported by its excellent customer service delivery.

He observed that the UMB had also invested significantly in its operations, processes and infrastructure to take advantage of cutting-edge technology to streamline and strengthen its operations across the country.

According to him, the investment was made to provide better banking services for the bank’s customers and to ensure that it would continually lead the market in the banking and customer service delivery arena.

“Indeed the next chapter for UMB will involve an expansion into a new frontier, a new way of banking and I trust that you will all continue to join us in writing the success story of our great bank,” he added.

The event was held in honour of the bank’s customers and stakeholders to show appreciation to them for their support over the years.

In the words of Mr. Awuah, “UMB is truly grateful to God and the bank’s customers across the country for their support.”

“These are exciting times for us, especially for those of us who are connected to this unique brand called UMB. Forty-five years, a truly iconic milestone and a feat not to be taken for granted and this explains why we are all gathered here to celebrate,” Mr. Awuah said.

“When we opened our doors in 1972 to become a premium merchant bank serving a young nation Ghana, it was an audacious plan,” Mr. Awuah said and added that “the bank’s first Managing Director, Mr. George Hammond, was a visionary who was among the list of visionary leaders the bank had experienced over the years.”

Reviewing the bank’s history, the CEO observed that UMB’s contribution to corporate entities and the private sector in general could not be underestimated with the provision of financial support to help businesses grow their operations high among the list.

“By virtue of being the only bank dedicated to serving the corporate and private sector, our objective was to help our economic growth through helping all categories of businesses,” he stated.

The Board Chairperson of the bank, Mrs. Elizabeth Zormelo, said many top companies in Ghana at one time or another had a relationship with UMB in providing the necessary financing and banking support to help them grow into what they have become today.

“In fact, as they succeeded, UMB also succeed because it was a mutually beneficial relationship. We are proud to be part of their success; indeed, the success of our corporate customers strengthens our business and allows us to expand into universal banking providing the full range of banking services to our customers,” she stated.

Going forward, Mrs. Zormelo said “the bank would face the future with passion, conviction and the knowledge that we can accomplish what we set our minds to achieve with God on our side”.