GN Bank Ghana: Investment Banking Head Office and Full Interest Rate Meaning
GN Bank Ghana, also known as Ghana National Bank, is a financial institution that was incorporated on May 30, 1997. The bank aims to provide excellent banking services to the ordinary Ghanaian client throughout Ghana, while also creating wealth for its stakeholders. GN Bank offers a wide range of innovative financial products, including employee loans, checking and savings accounts, and consumer and residential loan products.
Mission and Vision
The mission of GN Bank Ghana is to be the National Bank for the ordinary person, providing banking services to farmers, professionals, students, workers, and small and medium-scale entrepreneurs in Ghana. The bank aims to be known for its excellent customer service and commitment to creating wealth for its stakeholders.
The vision of GN Bank Ghana is to be a truly National Bank for the Ordinary person, serving various segments of the Ghanaian population and contributing to the growth of the country’s economy.
Goal and Core Values
The goal of GN Bank Ghana is to become the People’s Bank, catering to the needs of the ordinary Ghanaian. The bank approaches every aspect of its work with the highest standards of integrity.
The core values of GN Bank Ghana are:
- Valuing customers
- Approaching work as a professional team
- Treating each other with respect
- Practicing loyalty and absolute honesty
Services Offered
GN Bank Ghana provides a range of services to meet the financial needs of its customers. These services include:
- General Banking
- ATM Services
- Money Transfer (Sika Plus)
- Investment Banking
- Diaspora Services
GN Bank Head Office
The head office of GN Bank Ghana is located around Kokomlemle, near the Black Star Square in Accra. It is also close to OSU Akosnachi Enterprise Gh and Labadi. The main telephone number for the head office is 030 221 8855. The office operates from 8am to 4pm.
Contact Information
Contact No: 030 221 8855, 233 202 220 360
Email: [email protected]
Website: www.gnbankghana.com
The Full Meaning of GN Bank
GN Bank Ghana was formerly known as First National Bank. The name was changed to Ghana National Bank on September 18, 2014. Along with the name change, the bank transformed from a Savings and Loans Company to a Universal Bank. GN Bank now offers a range of financial services, including foreign exchange services, personal and business loan services, international remittances, and digital platforms for online transactions.
Objectives of the Bank
The primary objective of GN Bank Ghana is to provide facilities and products to meet the financial needs of the ordinary Ghanaian. The bank aims to serve workers, traders, professionals, and micro-industries, including small and medium entrepreneurs and businesses.
The Current State of GN Bank Ghana
In April 2018, GN Bank Ghana, along with other indigenous banks in Ghana, formed a committee to submit a report to the president regarding a petition. The petition raised concerns about a policy issued by the Bank of Ghana, which imposed a minimum capital requirement of GHS 400 million on all banks. The bank faced panic withdrawals from clients, leading the shareholders to seek alternative funding options to meet the requirement.
On January 4, 2019, the petition was approved, and GN Bank Ghana was granted permission to partner with Ecobank Ghana to meet the capital requirement.
Interest Rates
GN Bank Ghana offers various interest-earning accounts with rates that are compounded and calculated monthly. The interest rates are subject to change without notice and are determined at the discretion of the bank. Here are some of the deposit rates offered by GN Bank Ghana:
| Account | Min Deposit to Open | Min Balance to Obtain APY | APY |
|---|---|---|---|
| NOW | 10,000 | 100,000 | 0.01% |
| Super NOW | 100,000 | 1,000,000 | 0.03% |
| Statement Savings | 10,000 | 50,000 | 0.01% |
| MMDA | 250,000 | 250,000 | 0.03% |
| Moola Moola | 500 | 500 | 0.01% |
| 91 Days CD | 100,000 | 100,000 | 0.05% |
| 182 Days CD | 100,000 | 100,000 | 0.05% |
| 1 Year CD | 100,000 | 100,000 | 0.15% |
| 18 Month CD | 100,000 | 100,000 | 0.20% |
| 30 Month CD | 100,000 | 100,000 | 0.25% |
| 3 Years CD | 100,000 | 100,000 | 0.30% |
| 5 Years CD | 100,000 | 100,000 | 0.60% |
List of GN Bank Accounts and Operating Hours
GN Bank Ghana offers various types of accounts to meet the needs of its clients. The bank operates on specific days and hours, which are as follows:
- Personal Checking: This account is suitable for general and everyday needs, with a low minimum balance requirement.
- Renaissance Checking: This account is designed for retirement and is eligible for individuals receiving direct deposits from the government or pension checks. It has an exceptionally low minimum daily balance requirement of GHS 10.
- Retail Checking: This account is for personal use and offers a low minimum balance requirement along with a debit card.
- Statement Savings: This account allows customers to protect their money while earning interest. It offers easy withdrawal options and comes with a GN ATM card.
Customer Service Number: 030 221 8855
Operating Hours:
- Thursday: 8am-4pm
- Friday (Labor Day): 8am-4pm
- Saturday: 9am-2pm
- Sunday: Closed
- Monday: 8am-4pm
- Tuesday: 8am-4pm
- Wednesday: 8am-4pm
Investment Banking
Investment banking refers to the financial transactions and advisory services provided by a bank on behalf of individuals, corporations, and governments. GN Bank Ghana offers investment banking services, assisting clients in raising capital and engaging in various financial transactions.
Groupe Nduom
Groupe Nduom is a multinational business financial group that serves as the parent company of GN Bank Ghana. It is a broad-based group with businesses of Ghanaian and American origin. Groupe Nduom operates over 60 independent