Concord Times (Freetown)
25 September 2008
Sierra Leone is now ready for business and economic growth with the emergence of new banking institutions posing serious but healthy competition in what is fast becoming a burgeoning private sector led-industry.
Union trust bank, UTB director of marketing and business development Kobi Walker told Concord Times that a huge portion of the banking population in the country was doing business with his institution.
Walker said only 300,000 people own accounts in the country of almost 6.3 million people. And of these the bank claimed to have had a large number as clients.
UTB is one of several banking institutions in the competitive business but only indigenous banking institution that has contributed to nation building in a manner akin to responsible corporate citizenship.
"We have reinforced our vision of empowering Sierra Leoneans in the field of commercial activities. Our value added services continue to motivate the average Sierra Leonean to cooperate with UTB."
The bank was able to record a profit of Le 2,333,069 billion in 2007 as against Le 1,121,362 billion in 2006 which meant that it has doubled its efforts over the years. This feat may have come with the institution's efforts to establish branches and outlets across the country.
The business executive noted that even with the emergence of bigger banks in the country, UTB continues to excel.
Walker said his bank has a scheme, which was designed to help parents to pay school fees for their children. Although this service is typical of almost all banking institutions in the country, Walker argued that their objective was to mitigate parental constraints.
"The bank has created an avenue for parents to put small money aside to pay school fees for their children," adding that they always engage customers before creating any new scheme.
The marketing and business development director said as part of the bank's corporate social responsibility they initiated he school fees savings programme.
"Our institution cannot flourish without seeking the welfare of our customers. We have decided to partner with a local film industry so that we can sensitize the people on the prevention and control of HIV/AIDS in the country."
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