Over the weekend, Universal Merchant Bank (UMB), a leading indigenous Ghanaian bank, held a thanksgiving service at the International Central Gospel Church (ICGC) Holy Ghost Temple in Adentan as part of activities to round off its Golden Jubilee celebrations.
The Bank has since March, 15th, 2022 been celebrating its 50th year of operations. The Universal Merchant Bank (UMB) commenced operations in Accra as Merchant Bank in 1972.
The Bank has over the years established a reputation as a leader and innovator in Ghanaian Banking. Key milestones in the bank’s history include promoting and forming the first Discount House in Ghana and handling the share issues of 8 out of 10 companies when there was no Stock Exchange in Ghana in the 1970s.
Other key milestones include significant contributions to establishing the Ghana Stock Exchange and the Home Finance Company.
The Bank is also noted for its part in the famous Ashanti GoldFields floatation in the 1990’s. Recent innovations of the Bank include launching an agnostic mobile banking app UMB SpeedApp and the success pilot of an organically built BaaS platform- UMB SpeedPay.
The all-white event presided by Prophet Yaw Annor, the Head Pastor of the Church was attended by the leadership of UMB including the Bank’s CEO, Nana Dwemoh Benneh; Executive Director of Business at UMB, Nii Amankra Tetteh; Executive Director, Operations, Felix Awuku; Executive Director, Strategy and Growth, Belinda Boamah , the General Counsel of the Bank, Brenda Semevo Afari and over 500 staff members. Addressing the media after the service, CEO of UMB Nana Dwemoh Benneh paid tribute to Prophet Yaw Annor.
He said, “We dedicate our anniversary to our people, staff, partners and especially customers, for truly without people there is no Bank. We remember all our staff and customers who took that leap of faith on March 15th, 1972 and set -off with the Bank. It has been 50 years of the Lord’s goodness to our Bank, and we cannot help but express our sincere gratitude to Him for all He has seen us through. Our survival over five decades is due to the hard work of each staff member, overseen by divine providence”. Nana Dwemoh Benneh further paid homage to the Bank’s customers saying, “Our longevity in the Ghanaian financial market and any successes we have chalked is due to the strong confidence and loyalty our valued customers repose in us. To these customers, we salute you, and we promise to make the next fifty years an even more exciting banking, with a “digitALL” experience.”
Prophet Yaw Annor, Head Pastor of ICGC, Holy Ghost temple on his part, commended the leadership of the bank for joining his congregation in rendering thanks to God for a successful Jubilee celebration, and noted that “the Universal Merchant Bank was the first Ghanian Bank that the ICGC Holy Ghost Temple conducted business with during its inception. Indeed, I used to hold a prayer meeting in your Bank for many years , and we have very fond memories of our fraternal relations. We thank you for holding us up through these years and we pray that God pushes UMB to achieve far greater heights.”
UMB’s jubilee is expected to officially close after events in Kumasi, Tamale and Takoradi.