Oliver Alawuba, Managing Director/Chief Executive Officer (CEO), UBA Ghana, says banks in the country will be able to grant credit at low rates and on long-term basis if total deposits reach 30 percent.
Currently, total savings deposit is only 17 percent in the banking industry which was described by the UBA CEO as unsatisfactory.
Speaking at the launch of �UBA�s Dream It, Have Its savings� promotion, Mr. Alawuba said one should be able to save a minimum of 10 percent of his or her income. We need to do far better than what we are doing now.� He said the promotion is one way of encouraging Ghanaians to start developing the culture of saving, adding that UBA sets the pace in everything in the industry.
In UBA, both the low and high income earners can receive the best of banking services that anybody gets anywhere in the world, he emphasized.
He noted that the savings promotion will offer people, both existing and newcomers the opportunity to join and enjoy world-class, customer driven products and services.
The promo is designed primarily to inculcate a saving culture among the public while stimulating customer interest in doing business with UBA and rewarding existing customers for the continued patronage.
A new customer is expected to open an account with the bank and maintain a minimum deposit of GH�200 for three months to qualify for the mini draw while keeping GH�200 for four months to qualify for the grand draw. Existing customers will however have to top up their accounts with a minimum of GH�200 for three months to qualify for the promotion.
A prize package of GH�2,500 will be offered for the regional draws while GH�5,000 will be available for the overall winner.
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