All Protocols Observed:

It is indeed a great honour for me to welcome all of you on behalf of the Board and Management of FBNBank Ghana Limited to our Save & Win Promo 2nd Mini Draw.
Our standard in FBNBank Ghana has always been to put our customers and other stakeholders first in all our business services and devise innovative ways of meeting their needs and improving our services to them.

The FBNBank Save and Win promo was introduced few months ago to reward our esteemed customers. At the first edition of the promo, ten of our customers went home with various prizes ranging from airtime to mobile phones. They are: Agrah Casper Attah (Tema Branch), William Mensah (Mokola Branch), Matthew Tsogbe (Spintex Branch), Seth Wiredu (Spintex 2), Essel Kojo Opare (Swedru Branch), Nancy Sukara (Mokola Branch), Nikabu Tassendja (Achimota) Peter Yirenkyi (Dansoman Branch), Joy Gyampoh (Ring Road) and William Kwame Mensah (Kasoa).

Today, another set of customers who have fully met the terms and conditions of the FBNBANK Save and Win promo will walk away with beautiful prizes.

As was the case in the first mini draw, there will be three categories of winners. The first three accounts to be drawn will all get smart phones each. The fourth lucky winner will walk away with a Music Beat Box while the fifth and sixth winners would be given phone accessories and airtime. Owners of the seventh to tenth accounts will all get airtime each.

Winners of the Grand Draw when the promotion ends at the end of this month would win LED TVs, fridges, washing machines, gas cookers, laptops, Ipads and smart phones.

Promo Mechanics
While we gradually inch towards the Grand Draw scheduled for the 12th of January 2018, I will like to once again reiterate the mechanics of the draw.

• To enter for the FBNBank Save and Win Promo, customers need to make a deposit of GH¢200 (and/or multiples of it) into an existing or new individual savings/current accounts. Each GH¢200 deposit earns a customer 1 point.
• All customers who at the start of the promo have a minimum balance of GH¢1,000 in their accounts will get one point for every GH¢1,000 as “advance points” up to a maximum of 10 points.
• Advance points will be earned only on incremental basis for as long as the customer’s deposit remains in the account during the period of the promotion.
• To participate in the monthly draws or the grand draw, our customers need to maintain a minimum of GH¢1,000 in their individual current/savings accounts.

All customers who meet our terms and conditions for the FBNBank Save & Win Promo would qualify for the draw that would be supervised by the National Lottery Authority just as we are having today.

As 2017 gradually draws to a close, a lot of people, especially those who have accounts with banks across the country may be skeptical about the fate of their banks due to the GH¢400 million minimum capital cap announced by the Central Bank. I wish to assure all our customers that as has been our resolve to comply with all of our Regulator’s policies, FBNBank Ghana would meet the Central Bank’s new minimum capital requirement, so we ask that you feel free to carry out your business with us with ease.

The bank has outlined a number of tailored products and services which will be rolled out in 2018 to meet the needs of our customers. These products and services will be announced to the general public in due course.

On this note, I wish to on behalf of the Bank congratulate all who will emerge as winners during today’s draw and wish you all a merry Christmas and prosperous new year in advance.

Thank you.

Gbenga Odeyemi
MD/CEO, FBNBank Ghana Limited

The move towards a cashless economy has impacted the way we do business in Ghana presently. Financial institutions as well as mobile telecommunications companies continue to champion this drive leading to many electronic payment products and services.

Clearly, we see more and more people these days opting for cashless modes of payment. For instance, transactions are done using debit cards, or via mobile phones (e.g. FBNBank Ghana Vodafone cash service) and internet banking platforms. As we progress towards a potential transition – from a cash economy to a cashless one, these digital payment-modes and many others to come will pitch themselves as very reliable and convenient solutions for doing business.

While the cash and carry system which is quite vibrant in Ghana, is associated with perceived economic and financial risks, high dependency on cash by Ghanaians has contributed to the delay in getting a cashless economy though most developed countries have already embraced the concept.

Going cashless is a prudent path to thread considering the fact that it safeguards individuals and businesses against the risks associated with a cash-dependent system. Managing Director of FBNBank Ghana, Mr. Gbenga Odeyemi, believes a cashless economy can be achieved in the medium to long term but advocated for a less radical approach he refers to as the ‘cashlite’ economy.

He says the ‘cashlite’ economy is the “gradual removal of cash from our economy by the introduction of products that do not raise suspicion and distrust with the citizenry. Thus, the introduction of debit cards such as the MasterCard, ATM cards and the like.”

Mr. Odeyemi highlighted three important advantages in the use of debit cards. He stated that if Ghanaians accept the concept of a cashlite economy, the Central Bank will spend less producing bills. He also believes that the use of debit cards can help fight corruption because every transaction leaves a trail that can be used to detect questionable movement of funds thus increasing accountability. In addition, a cashlite economy reduces overhead cost of banks and companies and commerce is automatically enhanced when barriers such as time and distance is eliminated.

The MasterCard is accepted and used as a credible card by businesses and individuals across the world. He stated that as part of FBNBank’s medium term plan, it is the bank’s aim to achieve a cashlite economy in the next five years thus the bank has introduced the FBNBank Ghana MasterCard to bridge that gap.
The FBNBank Ghana MasterCard is accepted on more than 200 million MasterCard pay points worldwide and is issued to clients instantly. According to Mr. Gbenga Odeyemi, “when you walk to any branch of FBNBank Ghana and request for the FBNBank MasterCard, you expect to walk out of that branch holding your MasterCard.” The FBNBank Ghana MasterCard also comes with a unique secure code – a onetime password given in the form of a PIN. This password issued is used for online transaction. The code can be used twice and changed each time the FBNBank MasterCard is to be used. Based on a dynamic data authentication system, criminals find it almost impossible to clone the FBNBank MasterCard.”

“Moving towards a cashless economy is realistic but that would need frameworks that can only be put in place by the Central Bank to help regulate its operations and achievability,” Odeyemi observed. He proposed that the Central Bank of Ghana can work towards sanctioning specific cash transactions to reduce the volume of cash circulating in the system, while people can also conscientise themselves and others on the benefits of electronic transactions (e.g. FBNBank Vodafone cash service) to reduce over dependence on hard cash.

About FBNBank Ghana
FBNBank Ghana is a subsidiary of First Bank of Nigeria Limited. FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,500 ATM’s and over 9 million customer accounts. The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBNBank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, International Commercial Bank (ICB) The Gambia, Guinea, Sierra-Leone and Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.

 FBNBank Ghana Introduces TransFast Money Transfer Service

FBNBank Ghana has scaled up its money transfer services with the introduction of TransFast Money, a global remittance service, this new service offers customers a range of options when sending remittances for business transactions and to their families back home.

“According to Mr. Gbenga Odeyemi, Managing Director FBNBank Ghana, the Bank is committed to setting the ‘gold standard’ of customer experience and excellence in financial solutions across Sub-Saharan Africa and Ghana in particular. “We understand that for any money transaction, safety, reliability and convenience are critical and we strive to give our customers that and more in a comfortable and friendly environment. We also know that the Global remittance economy is a huge economy which is fast expanding and as a player in that global money value-chain we want to play our part in its growth.”

TransFast Money is the latest addition to other money transfer services offered by the Bank such as Western Union, MoneyGram, Ria, Sigue and Integrity. With its headquarters in New York, TransFast provides multi-currency, cross-border payments for companies and individuals through a wholly owned direct-to-bank network in accordance with all international laws and safeguarding customers’ information.
Aside FBNBank Branches in Ghana and some West African countries, TransFast can be accessed around the world and in all FirstBank branches in Nigeria and agencies all over the globe, as well as from 200,000 pay points across 120 countries.

About FBNBank Ghana Limited

FBNBank Ghana Limited is a subsidiary of First Bank of Nigeria Limited, an FBN Holdings Plc Company, which is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.

FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,600 ATM’s and over 10 million customer accounts. The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
FirstBank is the recipient of many awards. The Bank has been named “The Best Bank Brand in Nigeria” five times in a row – 2011, 2012, 2013, 2014 and 2015 – by the globally renowned “The Banker Magazine” of the Financial Times Group. FirstBank’s brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. The brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on the FirstBank’s inherent values of passion, partnership and people, to position its customers first in every respect.

For three consecutive years, 2012, 2013 and 2014, FirstBank was named the “Best Retail Bank in Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” and “Most Innovative Bank in Africa” in the African Banker Awards, “Best Bank in Nigeria” in the EMEA Finance African Banking Awards for the fourth time, “Best Foreign Exchange Services in Africa” in the EMEA Finance Treasury Services Awards, “Best Banking Group in Nigeria” by World Finance Banking Awards, and “Best Financial Reporting Company” by Africa Investor.

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For more information please contact:
Enoch Vanderpuye
Country Team Lead, Marketing & Corporate Communications
FBNBank Ghana
Telephone: 026 901 3000
E-mail: enoch.vanderpuye@fbnbankghana.com