Bank, is an institution that deals in money and its substitutes and provides other money-related services. In its role as a financial intermediary, a bank accepts deposits and makes loans.
It derives a profit from the difference between the costs (including interest payments) of attracting and servicing deposits and the income it receives through interest charged to borrowers or earned through securities.
Many banks provide related services such as financial management and products such as mutual funds and credit cards. Some bank liabilities also serve as money—that is, as generally accepted means of payment and exchange.
This article describes the development of banking functions and institutions, the basic principles of modern banking practice, and the structure of a number of important national banking systems. Certain concepts not addressed here that are nonetheless fundamental to banking are treated in the articles accounting and money.
The Universal Merchant Bank was formally called Merchant Bank Ghana Limited and it has a head office in Accra, the capital city of Ghana. Universal Merchant Bank was opened to the Ghanaian public in 15 March 1972 as a merchant bank. UMB as it is referred to introduced Retail Banking with the acquisition of a Universal Banking License in 2005
Universal Merchant Bank has its headquarters in Accra, the capital city of Ghana. The branches of the bank and its subsidiary companies include the following locations:
- Head Office – SSNIT Emporium Building, Liberation Road, Airport City, Accra – Ghana, Accra
- Abeka UMB Branch – Opsem House, Opposite SSNIT Building
- Abossey Okai Branch – adjacent to former Fan Milk depot.
- Achimota Branch -Mile 7 Junction just around the Goil Filling Station.
- Adabraka Branch – 123 Sethi Plaza not far off Adabraka Police Station.
- Airport City Branch – Liberation Road, SSNIT Emporium Building, Airport City
- East Legon Branch – near the East Legon Restaurant.
- Junction Mall Branch – Junction Mall, Nungua
- Kaneshie Branch – Fisherman House near Hansonic Junction.
- Labone Branch – Labone Road, Opposite Labone Secondary School No. 9 Ndebaninge Road.
Who owns UMB Bank Ghana?
Fortiz Private Equity Fund Limited (“Fortiz”) is a wholly-owned Ghanaian company incorporated in 2013 under the Companies Act, 1963 (Act 179) as amended, with 52.6% equity stake in Universal Merchant Bank (UMB)
UMB Customer Care Number In Ghana
Telephone: 0302 633 988 ·
Thank You for reading this post from Latest Ghana as online entertainment and news portal from Ghana. Don’t forget to recommend our site, Latest Ghana to your friends and family who might also profit from the information on our website and check out our other articles because we have more information to bring to you via your devices.
I believe you have any comments or suggestions to drop about this article, kindly make use of the comment box below and reach us for more discussion.
Latest Ghana is on the mission to promote anything latest from Ghana; Latest Entertainment News, General News, Sports, Insurance, Banks, Mortgage, Farming, Scholarship, Education and Schools Admission, Product pricing, Food, Fashion, Health, Business and more.