GRi BEF News Ghana 04 - 10 - 2000
Ghana
Association of Bankers announces Exchange Rates
Guinness
records huge profit decline
Barclays
opens Prestige Banking Service
Ghana Association of Bankers announces Exchange
Rates
Accra (Greater Accra) 4 October 2000
The Ghana Association of Bankers, on Tuesday
October 3, announced the following average inter bank exchange rates of the
cedi equivalent to the dollar and derived rates for other major foreign
currencies.
Currency Buying Selling
US Dollar 6,442.36 6,660.73
Pound Sterling 9,434.84 9,756.64
French Franc
861.80 890.64
Swiss Franc 3,714.21 3,836.06
Deutsche Mark 2,890.31 2,987.98
Canadian Dollar 4,276.32 4,416.37
Japanese Yen
59.18 61.15
Dutch Guilder 2,565.21 2,651.12
S/African Rand 891.80 920.69
Euro 5,651.97 5,838.80
CFA Franc 8.62 8.91
Naira
64.29 66.47
Ecowas/WAUA 8,520.23 ---------
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Guinness records huge profit decline
Accra (Greater Accra) 4 October 2000
Guinness Ghana Limited on Monday announced a 50
per cent fall in consolidated annual profit for the financial year ended June
2000 despite a huge leap in turnover.
The company's profit went down from 20,909
million cedis in 1998/99 financial year to 10,444 million cedis for the
1999/2000 year.
Turnover, however, shot up from by 29.88 per
cent from 96,517 million cedis in 1998/1999 to 125,360 million cedis in
1999/2000.
The company, in a press release made available
by the Ghana Stock Exchange, blamed the huge decline in profit on the sharp
depreciation of the cedi against major international currencies and the high
interest rates during the period.
Despite this, the company said, it has proposed
a total dividend of 70 cedis per share for the financial year. This represents a dividend pay-out ratio of
79 per cent as against 39 per cent last year.
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Barclays opens Prestige Banking
Service
Accra (Greater Accra) 4 October
2000
Barclays Bank on Tuesday unveiled
yet a new customer product - "Barclays Prestige Banking" - specially
designed for customers who demand exclusive treatment and want to avoid the
hustle of normal banking halls.
Barclays Prestige Banking, located
within the Osu branch, offers first class international service and has
exclusive premises, easy access to foreign exchange and international access.
It also has specially trained
staff, offers longer opening hours - 8.00 a.m. to 6.00 p.m. and an exclusive
cash card for those who sign up, and opens on Saturdays from 8.00 a.m. to 12
noon.
Mr. Kwabena Quansah, Managing
Director of Barclays Bank, Ghana, said the prestige services are not meant to
create an exclusive class. It is mainly to provide exclusive services for those
who can afford the signing up fee of 50,000 cedis a month, and create an avenue
for customers with tight schedules.
He said Prestige Banking offers
access to special offers of the bank locally and internationally. It originated
in Zambia and is available in Kenya, Botswana, and Zimbabwe.
Mr. Quansah said anyone with a
personal account with Barclays could opt for the club.
He said the idea is to provide a
distinct and innovative banking service for the changing tastes and demands of
the bank's customers.
Mr. Quansah said the idea was based
on an intensive survey to determine its suitability for Ghanaian customers that
resulted in an overwhelming "yes" response.
"We realised that the Ghanaian
banking public deserved the best of banking practices as pertains in the
airline industry and, therefore, decided to bring Prestige Banking to Ghana
too."
Mrs. Shola Sarfo Addo, Marketing
Manager, said 230 members have signed up for the service, adding: "when we
get 2,000 members here, we will move to another branch".
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