Tag: HFC Bank
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Former Republic Bank MD Asare Akuffo passes on
Former Managing Director of Republic Bank, Asare Akufo has died. He said to have died yesterday, a source close to the family told Citi Business News. Mr. Asare Akuffo was the MD of Republic Bank, formerly HFC Bank, for close to 10 years. His contract with the bank ended in June 2015 which saw him…
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HFC bank changes name to Republic bank
HFC Bank has received license to change its name to Republic bank. Information available to Citi Business News however indicates that this is expected to take effect next Tuesday, April 24, 2018. The change of name is as a result of Republic bank owning majority stake in HFC Bank’s operations. A statement from the Ghana…
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Flexible pension laws to reduce high mortgage costs
Banks want government to amend certain aspects of the housing law to allow collaboration between them and the National Pensions Regulatory Authority (NPRA) to make mortgages cheaper. According to the banks, various restrictions surrounding the tier one and tier two pension funds, hinder their ability to assist Ghanaians to access mortgages. The call comes after…
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Mixed reactions meet GH¢6 to $ 1 prediction
There are mixed reactions to the prediction that the cedi will depreciate to 6 cedis to a dollar by 2022. The Economist Intelligence Unit (EIU) based in the UK, has predicted that the local currency will perform poorly against the dollar within the next four years due to some external pressures and political uncertainties. But…
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HFC Bank upbeat of competition in mortgage offers
HFC Bank has ruled out any fears of losing to competition in the mortgage industry with the coming on board of GHL Bank. Managing Director of HFC Bank, Anthony Jordan explains that the vast housing needs of customers make it necessary for more players to come on board to address the issue. Considered as one…
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Solving housing gap: Lands Commission tackles complex registration
The Lands Commission is set to reduce the incidences of landguards’ attacks in the acquisition of land with its new land documentation system. The Ghana Enterprise Lands Information System (GELIS) aims at fast tracking the acquisition of land titles by using electronic platforms. The move is also geared at reducing the turnaround time for land…
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Cedi depreciation to hit 4th quarter
The cedi should begin its losing streak against the dollar from next month (October) if nothing is done to stem the situation. This is the caution from currency analysts. Their arguments are premised on the potential rise in the demand for the dollar by importers and vendors ahead of the festive season. Citi Business News’…
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Cedi stability drives mortgage rates down by 40%
Businesses want government to sustain efforts geared at stabilizing the cedi to foster growth. Following what they say is the relative stability of the local currency, the businesses fear they will be worse off should the minimal gains be eroded. A cross section of businesses that Citi Business News has been engaging in a review…
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HFC Bank receives Exceptional Diaspora Investment award
HFC Bank Ghana, a subsidiary of Republic Financial Holdings Limited has been awarded for Exceptional Diaspora Investment in Ghana. The award is in recognition of the Republic Financial Holdings Limited of Trinidad and Tobago’s investment in HFC Bank Ghana. HFC Bank was awarded at the prestigious Diaspora African Forum Excellence Awards Dinner. Receiving the Award…
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HFC Bank’s loss decreases marginally to GH¢38.6m in 2016
HFC Bank has posted an operating loss for the second year in a row though the figure has dropped marginally. The Bank’s 2016 financial statement showed that the loss for 2016 recorded 38.6 million cedis from the 39.2 million cedis in 2015. The bank’s losses were also accounted for by the projects to clean the…