Our measure is not defined by profit, but impact - GCB Bank MD redefines success in banking
Farihan Alhassan, Managing Director of GCB Bank, says the bank's success is not defined by profit, but by the impact it makes on businesses and lives. Speaking on Joy News' PM Express Business Edition on Thursday, Farihan Alhassan pushed back against the notion that lending to SMEs is too risky under tightening regulations. He said, "So we're not just giving credit to customers. We're changing people's lives. So people need us to change their lives, and they have a genuine story to tell."
Mr. Alhassan insisted that GCB has a responsibility to support local businesses, even in difficult circumstances. He said, "We are not just any bank. We are Ghana's indigenous bank. We are Ghana's number one bank. We have to support those customers." He added that the bank does not shy away from risk but works with clients to overcome it. Mr. Alhassan stated, "And don't forget that our measure as a bank is not in how much money we make, but in how many lives we touch and how many businesses we grow."
Mr. Alhassan said that if a business made a profit of GH¢200 million, the question was asking how the bank's support enabled that business to meet the ¢200 million. He added that if a business employs 20 people, the bank's concern should be how to support the business to employ 40 people. He maintained that GCB's strategy aligns with the broader economy.
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GCB Bank's Managing Director, Farihan Alhassan, discussed redefining success in banking. He emphasized a shift towards prioritizing the impact on businesses and lives - suggesting a new direction for the financial institution.
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