A new branch of Frerol Rural Bank, a member of the First Sky Group, has opened in Ho in the Volta Region to assist business owners to leverage the bank’s financial support and operations.

Before this grand opening, the bank has been serving the business community in the region by operating for the last four and a half years in the Kpando municipality.

The bank also aims at supporting the youth in the area with the requisite financial assistance to start personal business ventures.

At the unveiling ceremony in Ho, Board Chairman of Frerol Rural Bank, Professor Richard J. Bani was hopeful the opening of the Bank’s branch will be of immense help to the business community in the Volta Regional capital and make the region a local investment hub.

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

That’s not all, management of the bank as part of its business strategy is seeking to reinvest proceeds from the banking activities into the community in order to boost socio-economic development.

Low interest

One of the bank’s competitive advantages is the low-interest rates it offers on loans.

Executive Chairman of the First Sky Group, Mr. Eric S. Kutortse said, the Bank will in particular support women financially adding that “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”.

Mark Krah, General Manager of Frerol Rural Bank, said the financial institution’s ability to surmount the shocks of the COIVD-19 is proof of the bank’s resilience in the financial sector space.

Services rendered by the bank, according to him, “inure to the needs of the people and our products don’t fade”.

“Our digitisation platforms are on point and up to speed,” Nii Lamkai Lawson, Public Relations Manager of the bank, mentioned.

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

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