UniBank optimistic

UniBank Ghana Ltd says it is optimistic of becoming a leading bank in the trade finance products and services market of the banking industry.

The Bank - which currently offers all the traditional trade finance products ranging from open account, pre-payment, establishment of letters of credit as well as documentary collection - is targetting increased volumes in its trade finance segment of business.

Deputy Managing Director John Kofi Mensah made this known at a trade banking focused group discussion held in Accra as part of the bank’s trade facilitation week aimed at interacting with stakeholders in the international trade business and to expose the its wide range of products to the customers.

The programme was also meant to receive feedback from the customers and develop appropriate solutions to help enhance trade and boost revenue.

Mr. Mensah said: “Your line of business requires interest and current information in what happens not only in Ghana but the global market. You therefore need proactive reactions.

“Our customers give us feedback, and we know that it takes the shortest time to establish letters of credit with uniBank trade finance.

“Our customers do not queue to process transactions; same-day transfers - a service quality which has become common with our products - is scarce to find in other parts of the industry,”

He disclosed that the Bank has been taking keen interest in the operations of its customers. Exporters in particular are educated regularly in helping them to raise the quality of products exported to the international market.

He indicated that customers prefer uniBank's trade finance products and services because of their reliability, since they have been deliberately developed to function within the confines of the requirements set by the international chamber of commerce rules and regulations.

Revenue made by the Bank from its trade finance line of operations increased by 106 percent in 2009 over the previous year. The Banks clientele based in the export segment are the shea-nut exporters, scrap, cashew, yam and wood exporters - but the Bank is steadily developing a niche for the cashew market.