Saturday, October 1, 2022
"Remember that failure is an event, not a person." - Zig Ziglar This is what one expert says which proves my firm belief that working with ethics is the true pillar of banking success: The four pillars of ethics in banking It is evident that ethics in banking is of supreme...
(recruitment and induction) “It is only as we develop others that we permanently succeed” Dear readers, last week I refreshed the topic of preventing internal fraud in banks through effective induction programmes for new entrants. In addition, there is a need for existing staff to be refreshed regularly while coaching and...
Last week, I created an awareness of the need for banks as corporate bodies as well as individual bankers to pay closer attention to the paradigm shift in banking and have a serious change of mindset, as a pre-requisite to moving on. This period of self-reflection is to identify best...
“There is going to be digitization of the workforce in a way we have never seen before. In 10 years, probably less, we will have substantially fewer employees, and the ones we do have will be significantly different from what we have now”.—Director, Bank Governance Leadership Network, This...
“Quitters never win, and winners never quit” ****This article was first published in February 2020*** Whenever I watch how some local entrepreneurs’ businesses collapse, causing loss of jobs and reputational damage, I find myself filled with mixed emotions. However the interesting thing about famous successful personalities who “fail” is, THEY LEARN...
“Someone is sitting in the shade today because someone planted a tree a long time ago” Warren Buffet I wish to dedicate this article to two groups of people: The first group is the Board, Management and Staff of Universal Merchant Bank, (UMB), formerly known as Merchant Bank (Ghana)...
“If you make customers unhappy in the physical world, they might each tell SIX friends. If you make customers unhappy on the Internet, they can each tell  SIX THOUSAND friends.”  Jeff Bezos  Customer Exits and Risk Dear bankers, I am sure you have all gone through a painful customer exit...
“Your most unhappy customers are your greatest source of learning” ~ Bill Gates The bank and customer relationship or the contract terminates by closure of the account at the request of either party.  This can be by mutual agreement, or after a customer has transferred the balance on the account. However, by...
According to the Central Bank’s Domestic Money Bank’s Income Statement, a total of GHS2.086 billion was written off as bad debt by banks operating in Ghana. The total bad debt stock was 4.7% less than that of 2020 which was GHS2.183 billion. Dear readers, last week, I shared some sentiments...
The issue of problem loans is an albatross that keeps rearing its head in the affairs of financial institutions in both and advanced and less advanced economies. Granting loans is one of the core functions of banks. What are the effects of bad loans? A bank with high percentage of bad...
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