StanChart launches SME customer business strategy

Standard Chartered Bank Ghana has launched its SME customer business strategy aimed at meeting the changing needs of the fast-growing Small and Medium Sized Enterprises (SMEs) segment.

The value proposition also reinforces its brand promise of ‘Here for good.’

The bank first launched its SME Banking business approach in 2002 and the launch was used to mark the celebration and to provide the platform for the 10 years of SME Banking in Ghana.

Executive Director Consumer Banking, Mr Andrew Okai, said the bank’s strategy remained unchanged as it continuously delivers superior value, which will put us on course to become the leading Bank in this sector across the country.

“Customer needs continue to change and with the increasing competition in the banking sector, we cannot rest on our oars,” he said, adding that the bank was in a strong position to support the sector.

He said SME financing was well placed in Standard Chartered’s overall strategy and focus with the aim of meeting customers’ needs.

Mr Tim Hinton, Global Head, SME Banking, Standard Chartered Bank, emphasized the role of SMEs on the global level.

He said “The SME segment as grown at almost twice the rate of GDP in most markets and is expected to grow at 10-12 percent per year across our footprints in Asia, Africa and the Middle East….”

To better understand the needs of its SME customers, the Bank provides dedicated relationship managers supported by a team of specialists.

The expertise enables the Bank to provide the best solutions in the areas of working capital, business expansion, business protection, and yield enhancement.

General Manager of SME Banking, Kwabena Boateng, said the Bank’s global expertise in SMEs positions them as the leading financial institution for SMEs in Ghana.

He reiterated the fact that the Bank recognized the need to establish SMEs in Accra and Kumasi at the convenience of their customers by introducing their global online platform straight2Bank.

Source: GNA