Stanbic Bank support government’s fight against COVID-19

Stanbic Bank support government’s fight against COVID-19

Stanbic Bank Ghana has made a total investment of GH1.3 million in support of the ongoing national efforts to contain the spread of coronavirus in the country.

This was made possible after the management of the bank donated 300 Personal Protective Equipment (PPE) to the Korle-Bu Teaching Hospital in Accra on Monday, 6th April 2020.

Stanbic Bank’s COVID-19 intervention will also include a donation of an additional 200 PPE to hospitals and medical centres across the country, procurement of 5,000 complete testing kits and sourcing of ventilators for the country through the United Nations Office for Project Services (UNOPS).

Speaking at the donation exercise, Head of Marketing and Communications of Stanbic Bank, Mawuko Afadzinu said the impact of the COVID-19 has placed a responsibility on everyone to ensure that the situation is contained.

 

“This is a time for collective responsibility where a successful fight against this pandemic requires that we all do our part; whether in respecting lockdown protocols or contributing in various ways to stem the spread of the virus. For us at Stanbic Bank, we believe Ghana is our home and our commitment to drive its growth will continue to find expression in interventions such as this support for the fight against the COVID-19 virus”, Mr Afadzinu said.

 

Also, the bank has launched an initiative that will encourage their staff to commit at least a percentage of their salaries to the COVID19 Fund. 

The initiative, ‘All for One, One For All’ campaign, has top executives of the bank committing 30 per cent of their salaries for the next three months while other employees have also committed 10 per cent of their salaries each.

Besides, Stanbic Bank has carried out other interventions to reduce the financial burden on customers and enhance the ease of doing business as the country fights to control the spread of the COVID-19 in the country.

The measures include a capital moratorium to customers upon request, which means customers who have active loans with the bank can pay only the interest on the loan and not the principal amount for an agreed period.

Further, Stanbic Bank customers would enjoy a 2% reduction in interest rates for the period in efforts to cushion them during the harsh economic condition they’re facing during the COVID-19 period.

Over and above these, the bank has reduced charges on all of its cards to encourage the services of e-payments outlets across board.

Currently, the loading of the cedi component on Stanbic Bank’s Money Wallet card is free after resorting to the Bank’s use of its digital channels as a way of keeping customers safe.

Additionally, customers can effectively make all payments and banking enquiries in the comfort of their homes using the Bank’s digital channels, with limited trips to the ATM, without having to go to a physical branch.

The Bank has also increased its ATM cash withdrawal limit to GHS10,000 in a bid to limit in-branch transactions even for customers who need bulk cash with increased protection at the ATM sites across the country.