Frerol Rural Bank opens Ho branch

The new branch is aimed at growing businesses in the communities

Frerol Rural Bank, a member of the First Sky Group has opened a branch in Ho after operating in the Kpando Municipality for over four and a half years.

The main focus of the bank is to support the growth of businesses in the communities and also encourage the youth to start their own businesses.

Speaking at the ceremony, Professor Richard J. Bani, Board Chairman of Frerol Rural Bank, said the bank was now poised to replicate its Kpando success stories in Ho.

He said that market analysis and the feasibility studies carried out by the bank indicated that the Volta Regional capital was an ideal ground for good business with bright and guaranteed prospects for investments by the local populace.

“Our philosophy is a social intervention to support the growth of local economic activities and not profit,” Professor Bani maintained.

He gave the assurance that the profits of the bank would be ploughed back into the businesses of the communities.

The Frerol Board Chairman said that the bank always took up its social responsibility with great zeal and utmost seriousness, which was why it vigorously supported the crusade against COVID-19 by donating personal protection equipment (PPE) to health institutions.

The Executive Chairman of the First Sky Group, Mr. Eric S. Kutortse, said that Frerol Rural Bank had the most gracious and affordable interest rates on loans and that testified to its business-supportive stance.

According to him, Frerol Rural Bank is determined to assist women in their businesses to make them financially self-reliant.

“As a citizen of this Region, I want to see a lot of businessmen rise out of this Region, and that is the main reason why we have come up with Frerol Rural Bank,” he added.

On his part, the General Manager of Frerol Rural Bank, Mark Krah, said the Bank has been well positioned and continues to grow despite the banking sector crisis and clean-up exercise.

He said with stated capital in excess of GHC2.9 million, customers and prospective clients should consider the Bank as a secure financial partner.
The General Manager said a bouquet of products have been crafted to “inure to the needs of the people,” adding, that, “our products don’t fade.”

Frerol Rural Bank provides several money-saving services, a variety of loans, and also wireless transfers.

Nii Lamkai Lawson, Public Relations Manager of the Bank, said the bank invested heavily in IT in an effort to cut back on human contact as necessitated most recently by the coronavirus pandemic.

“Our digitization platforms are on point and up to speed,” he remarked.

Staff and management of the Bank, joined a float through the principal streets of Ho to announce presence and distribute product brochures and flyers to potential clients and the public.



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