Tag: HFC Bank
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NPLs erode HFC Bank’s 2016 profits
HFC bank’s 2016 figures show that the bank’s total deposit grew by 31%. The figure increased from 1.18 billion cedis in 2015 to 1.55 billion cedis in 2016. This also outperformed the industry’s average of 25%. The bank’s assets also increased to 1.89 billion cedis within the twelve months period. However, provisioning for Non Performing…
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HFC Bank rewards customers on 13th month of the year
Persons, who sign onto HFC Bank’s Susu Plus account, are set to be rewarded for the thirteenth month of the year following the bank’s revived campaign of that product. The savings deposit plan allows customers to deposit a fixed amount of money into their account for one year (twelve months) and be rewarded with the…
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NPP gov’t must continue legacy debt payments – HFC MD
The Managing Director of HFC bank, Robert Le Hunte is optimistic the incoming Nana Akufo-Addo government will continue with the plans laid down by the Ministry of Finance in paying the legacy debt. According to him, the change in government should not in any way alter the process already agreed on to pay the affected…
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HFC drives financial inclusion in Northern Ghana
HFC Bank has reaffirmed its commitment to reduce Ghana’s unbanked population by making banking more accessible. It follows the launching of the bank’s new branch in Bolgatanga in the Upper East region. The new branch is also the second to be established in the Northern zone after the Tamale branch. The General Manager in charge…
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HFC targets high deposits despite election blues
Some commercial banks have told Citi Business News they are highly optimistic of increased deposits towards the end of year despite the upcoming general elections. Though the banks admit of a general decline in economic activities, they are confident that will least affect their targets for 2016. “Of course elections will be with us always…
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HFC Bank to invest about GH¢200 m in cocoa sector
HFC bank has announced over a hundred percent increase in its investment to Ghana’s cocoa sector as part of efforts to improve production in the sector. According to the bank, it expects to increase its contribution from the 90 million cedis to 198.1 million cedis within the period. The Managing Director of HFC, Robert Le…
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HFC Shareholders to stop Republic Bank from taking over
Two individual shareholders of the HFC Bank on Thursday filed a legal action to challenge the hostile takeover of HFC Bank by Republic Bank of Trinidad and Tobago. In an ex-parte motion filed at the Commercial Division of the High Court, the shareholders are asking the Courts to intervene to save HFC, described by the…