Union Bank lauds partnership with HFC Bank Ghana

The partnership between Union Bank of Nigeria PLC and HFC Bank Ghana has been described as the first and most fruitful private sector relationship that exists in the West African sub-region.

At a recent visit of the Board of Directors of Union Bank of Nigeria PLC to the Head Office of the HFC Bank, Accra, the Group Managing Director/Chief Executive of Union Bank of Nigeria PLC, Mr. Barth Ebong, described the partnership as worth the dreams of the founders. He said that the transformation of HFC Bank from a mortgage institution to its present universal banking status was the vision of Union Bank’s desire to spread its tentacles to West Africa sub-region in the drive to raise funds, spread delivery channels and offer technical banking assistance to Ghana. “We are happy this is yielding fruitful results and attracting our competitors to Ghana,” he added.

Mr. Ebong lauded the steady growth of HFC Bank, enthusing that as pace setters, Union Bank would continue to offer assistance to the growth of the partnership in order to enhance business development in the sub-region. Union Bank has 32% equity holding in the HFC stock.

The GMD/CE spoke eloquently about the wishes and values the partnership had created in the sub-region and hoped that this would translate to a more collaborative growth of banking business. He emphasized that Union Bank had always set the pace and would continue to explore viable avenues for fruitful interaction at different levels of both organizations.

Earlier, Mr. Asari Kuffor, the Managing Director of HFC Bank Ghana had informed the visitors of the steady progress being recorded by his bank, promising that it would continue to deliver profitable returns to its stakeholders. Mr. Kuffor said HFC Bank had expanded from providing mortgage services to universal banking covering all gamut of banking services within and outside the shores of Ghana. He solicited the support of Union Bank to enable it remain ahead of competition.

At a dinner in honour of the directors of Union Bank, Nana Adjei Duku, Chairman of HFC Bank thanked the visitors and added that the investment of Union Bank had contributed and prepared his bank to obtain the universal banking certificate. He said that the relationship between Union Bank and HFC was more that of brothers than business partners.