We can't run away from risk - GCB Bank MD defends high-stakes bet on SMEs
Farihan Alhassan, Managing Director of GCB Bank, defended the bank's continued push into lending to small and medium-sized enterprises (SMEs), insisting that risk is unavoidable if banks are to drive real economic growth. Speaking on Joy News' PM Express Business Edition on Thursday, Alhassan rejected the notion that SMEs should be sidelined because of their risk profile. He said, "We can't run away from supporting customers because we think that they are risky. It's our job as a Bank to see how we can work with these customers to address some of the risks that we see in their businesses."
Alhassan maintained that the bank is committed to helping businesses become creditworthy rather than excluding them. He said, "If a business employs 20 people, our concern should be, how then do we support this business to employ 40 people?" He added that GCB's strategy aligns with Ghana's economic direction.
Quick Summary
GCB Bank's MD, Farihan Alhassan, defended the bank's focus on lending to SMEs. He argues that banks must accept risk to foster economic growth - but what does this mean for the bank's strategy?
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