{"id":268673,"date":"2016-11-15T14:38:34","date_gmt":"2016-11-15T14:38:34","guid":{"rendered":"http:\/\/citifmonline.com\/?p=268673"},"modified":"2016-11-15T14:38:34","modified_gmt":"2016-11-15T14:38:34","slug":"hfc-targets-high-deposits-despite-election-blues","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/11\/hfc-targets-high-deposits-despite-election-blues\/","title":{"rendered":"HFC targets high deposits despite election blues"},"content":{"rendered":"<p>Some commercial banks have told <strong>Citi Business News<\/strong> they are highly optimistic of increased deposits towards the end of year despite the upcoming general elections.<\/p>\n<p>Though the banks admit of a general decline in economic activities, they are confident that will least affect their targets for 2016.<\/p>\n<p>\u201cOf course elections will be with us always and therefore we will put in place such initiatives as long term mechanisms as a bank\u2026I have not seen any drop in business generally as a result of the elections,\u201d the Managing Director of HFC Bank, Robert Le Hunte told <strong>Citi Business News<\/strong>.<\/p>\n<p>The general slowdown in economic activities is said to be affecting some sectors of the economy.<\/p>\n<p>For instance in the banking sector, demand for mortgages has seen a drop even at a time that the banks have eased the access to credit by businesses and individuals.<\/p>\n<p>Also, some foreign investors have indicated of reducing their investments particularly in the fourth quarter over uncertainties surrounding the outcome of the general elections.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-65737 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2016\/11\/MD-Branch-manager.jpg\" alt=\"MD, Branch manager\" width=\"600\" height=\"366\" \/><\/p>\n<p>But Mr. Le Hunte explains that HFC Bank is strategically positioned to withstand any dynamics the election period may come along with.<\/p>\n<p>\u201cThere has been some slowdown in the market generally from a loan perspective but there\u2019s nothing that we have catered for. So we will continue to put our business plan in place regardless of elections or not,\u201d he further stressed.<\/p>\n<p><strong>HFC opens new Tema branch<\/strong><\/p>\n<p>Meanwhile HFC Bank has opened its second branch in Tema in a bid to drive the bank\u2019s expansion drive and attract more investments.<\/p>\n<p>Speaking at the official opening ceremony, Robert Le Hunte maintained that the additional branch will help HFC meet the large industrial and residential banking needs of the community.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-65738 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2016\/11\/plaque.jpg\" alt=\"plaque\" width=\"600\" height=\"338\" \/><\/p>\n<p>According to him, the introduction of some new product offerings early this year coupled with the latest customer feedback system put in place will culminate in a further increase in the deposit base of the bank.<\/p>\n<p>\u201cIf you consider the rates in deposits from September last year to the same period this year, you will realize that deposits have increased by 400 million dollars representing 40 percent increase within the period,\u201d Robert Le Hunte observed.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-65740 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2016\/11\/staff.jpg\" alt=\"staff\" width=\"600\" height=\"338\" \/><\/p>\n<p>The new Tema Community 25 branch of HFC Bank brings to 42 the number of HFC Bank branches nationwide.<\/p>\n<p>&#8211;<\/p>\n<p>By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. \u201cOf course elections will be with us always [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,11],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HFC targets high deposits despite election blues - Citi 97.3 FM - Relevant Radio. 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