Fidelity Bank has opened its Koforidua branch with the aim of boosting access to a bigger pool of deposits, with which it can support the nation’s growing small and medium enterprise base.

“Our objective is to be able to support business investments with low-cost lending, which will have multiplier effects, including increasing employment in the country,” the Deputy Managing Director, Jim Baiden, said.

He was speaking at the second draw of the bank’s “Big Fat Zero” promotion in Koforidua, where Obed Annan of Koforidua Methodist branch, Kumasi; Martha Afra of Atonsu branch, Kumasi; and Reginald Ankama of Osu Oxford Street branch, Accra, were winners of the promotion.

He said Ghanaians are known to be enterprising and industrious, and the bank recognises that it is essential that it empowers its existing and potential customers not only to pursue their dreams and aspirations, but also to have the financial means to cater for the basic necessities of life.

“In setting up the bank, the founders were inspired by the idea that for Ghana to rise to middle-income status, a critical mass of consumers is needed to play an active role in the country’s financial inclusion. It is within this broader context that Fidelity Bank has crafted its purpose and its vision for the transformation of the lives of the people of this country.”

To enhance access to financial services and bring banking services to the doorsteps of Ghanaians, the bank has been expanding its branch coverage at a fast pace across the country.

Mr. Baiden said out of an adult population of over 15 million people, only 35 percent are banked, adding that it is clear that there is the need for financial institutions in the country to address the issue with strategies and initiatives that will bring more people into the banking sector.

He said the “Big Fat Zero” promotion represents a new idea in consumer promotions in the banking industry: the idea that as a bank, the promotional reward should come from its stock-in-trade, money.

He said the purpose of the promotion is to attract new customers and give existing customers the chance to be rewarded for their continued custom and faith in the bank.

With 49 branches, the bank is currently the fourth bank in the country with the largest branch network.