Fidelity Bank Ghana Limited, one of the fastest growing banks in the country, has held the second monthly draw of the much-touted, ‘Big Fat Zero’ Promotion.
It was held at the bank’s new Koforidua Branch last Wednesday where its Deputy Managing Director, Jim Baiden announced that the bank had expanded its network to 49 branches nationwide.
Fidelity Bank is currently the fourth largest financial intermediary in Ghana in terms of the number in Ghana in terms of the number of branches.
On Wednesday, August 21, , sanctioned by the National Lottery Authority (NLA) under Act 722, was launched at the bank’s headquarters at Ridge, Accra.
It is expected to end in December 2013.
Under the promotion, customers are required to maintain a minimum balance of GH300 for a month to be automatically selected for a single draw while those maintaining a deposit of GH1,000 and above stand the chance of winning big.
At the second draw, Mr. Baiden said the bank was pursuing a programme of financial inclusion through a number of initiatives geared towards ensuring active participation of consumers in banking.
“At the heart of the Fidelity Bank story is a deep desire to impact the lives of Ghanaians.
Indeed, the bank was established as an indigenous enterprise, a business that saw its growth and future in the prosperity of the people of this country,” he said.
He said that out of an adult population of over 15 million people, only 35 percent are banked, adding “it is clear that there is the need for financial institutions in Ghana to address the issue with strategies and initiatives that will bring more people into the banking system.
Mr. Baiden said Fidelity Bank was playing its role actively by creating opportunities for consumers to join the bank’s growing pool of customers, adding “Ghanaians are known to be enterprising and industrious and we recognize that it is essential that we empower our existing and potential customers not only to pursue their dreams and aspirations, but also to have the financial means to cater for the basic necessities of life.
He added that “we can do that when we give them the purchasing power to attain it.”
According to Mr. Baiden, the Big Fat Zero’ Promotion represents a new idea in consumer promotions in the banking industry-the idea that as a bank, the promotional reward should come from our stock-in-trade: money.
“The purpose of this promotion is to attract new customers into our banking family, and also to give existing customers the chance to be rewarded for their continued custom, and their faith in us.
Beyond this, the broader objective of the promotions is to enable the bank to have access to a bigger pool of deposits with which it can support the nation’s growing SME base.
“Our objective is to be able to support business investments with low cost lending, which would have multiplier effects, including increasing employment n the country.
Touching on the continuous expansion, Mr. Baiden said, “Fidelity Bank’s branch expansion across the country is part of our strategy to enhance access to financial services and bring banking services to the doorsteps of Ghanaians, and is now the fourth in the country in terms of number of branches.
Fidelity Bank Ghana Limited currently operates in nine out of the the 10 regions in Ghana, with a customer base of over 400,000 and employing 1,500 people.
It started operations in Ghana in October 2006 after years of operating as a discount house.
The Bank has been recognized as the Best Growing Bank in recent times.
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