FIRST Capital Plus, an indigenous savings and loans company is to establish 10 more branches as part of efforts to position itself strategically in the financial services market.
The Chief Executive Officer of the company, Mr John Kofi Mensah who gave the hint at the commissioning of their Tema Branch said they would also extend services to two more regions before the year ended.
He said the expansion drive was to present customers with several avenues to transact business with the company who had Small and Medium Enterprises (SMEs) as its core clientele.
Aside the physical presence strategy, the company is also set to acquire a universal banking license soon having implemented the requisite systems and structures necessary for its transition from a Savings & Loans to a fully-fledged universal bank.
The newly established Tema Branch which is located in Community 1 comes with a SME Loan Centre signaling their strategic intent to Focus on the SME sector.
He said the establishment of the SME loan centre was to help ease the difficulties in accessing fast credit faced by SMEs in the metropolis and its environs adding that loans at the centre were processed within 24 hours.
The Managing Director of Agapet Petroleum Limited, Mr Emmanuel Abledu, who was the chairman of the occasion, urged people to patronise the services of indigenous company in order to help such companies grow.
The Assistant Director of Banking Supervision of the Bank of Ghana, Mr Philip Cobbinah commended First Capital Plus for making tremendous strides in its operations among the Non- Bank Financial Institutions, Savings and Loans category, maintaining the number one position in terms of total assets and total credit with a market share of 19 per cent and 16 per cent respectively.
Fact Sheet
- First Capital Plus grew its deposit by 117.79 per cent to GH¢211,110,964 in 2012.
- Its total assets also increased to 286,797,625 in 2012.
- Loans and advances also grew to 107,635,665 in 2012.
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