We're not just giving credit, we're changing lives - GCB Bank MD defends SME lending push
Farihan Alhassan, Managing Director of GCB Bank, defended the bank's support for small and medium enterprises (SMEs) on Tuesday on Joy News' PM Express Business Edition. He insisted that lending goes beyond profit to transforming lives, saying, "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 stated that GCB's identity as a local bank compels it to support businesses others may avoid. 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 risk alone cannot justify denying businesses access to credit. He also said that the bank sees its clients as partners on a journey to growing businesses. Mr. Alhassan noted that the bank works to strengthen businesses rather than exclude them. He said that the bank's measure is not in how much money they make, but in how many lives they touch and how many businesses they grow.
Mr. Alhassan illustrated this with tangible outcomes, saying, "So today, if a business made a profit of GH¢200 million, the question was asking us, how did our support enable that business to meet the ¢200 million?" He also said, "If a business employs 20 people, our concern should be, how then do we support this business to employ 40 people?" He concluded that GCB's role is to see how they grow their customers to become bigger. He added that the bank's strategy aligns with the broader economy.
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GCB Bank's MD, Farihan Alhassan, defended the bank's SME lending push on Joy News. He insisted their support transforms lives- raising questions about banking's broader role.
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