Nandom Rural Bank: The Pride Of Nandom Traditional Area
The Bank recently deployed an automated teller machine (ATM) which has provided convenience and security to customers, who hitherto had complained about activities of armed robbers and petty thieves who have been targeting people who carry huge sums of money around.
The Rural Banker caught up with William Winden Buukinter, General Manager of the Bank to glean some ideas from the Management of the Bank on some of the strategies that makes them a top performer in the northern parts of the country.
William Winden Buukinter leads the team.
Before assuming the helm as General Manager on January 2, 2012, William Winden Buukinter also served in senior roles at the Nandom Rural Bank for six years.
Buukinter obtained his Ordinary Level and Advanced Level Education Certificates from the Nandom Senior High School and St. Hubert Seminary Senior High School, respectively. He did a first degree in Economics from the University of Cape Coast.
He has a total of 27 years working in the rural banking industry, 10 of those rich years relate directly to senior management roles. Born on July 24, 1972, he is married to Innocentia Rita Suglo and they are blessed with four daughters.
According to Buukinter, “Nandom Rural Bank is the only Rural Bank in the Nandom Traditional Area, which puts the Bank in a very strategic position to leverage its location to optimum advantage”.
He stated that due to the strategic location, “we have put in place measures that ensure superior customer experience through a blend of tailor-made products and services”. A key competitor is GN Savings and Loans, which until recently was a universal bank. Nandom Rural Bank has however strategically expanded into other geographical areas such as the
Wa Municipality, the Lambussie, Sissala West, Wa West and Wa East Districts, where “it is into serious but healthy competition with other financial institutions”.
He revealed that “the recent reforms in the banking sector have affected confidence level of clients of the Bank. The impact
of the customer behaviour on the operations of Nandom Rural Bank has been quite significant. Notwithstanding that, there are indications that deposit mobilization will improve dramatically”.
The Bank has used research to gauge the needs of customers and introduced the following products which continues to delight the growing customers of the Bank. The situation, Buukinter noted “has significantly contributed to business volumes in recent times. Three of such tailor-made products are:
a) ‘Yeru Baare Duor’ (Traders Progress Loan) – a loan product to help increase the working capital of traders, artisans, craftsmen and women.
b) Plan 60 Loan – a loan product for workers on Controller and Accountant General Payroll.
It provides credit to finance the construction of houses for workers before they attain the statutory retirement.
c) WASH Loan – a credit facility to finance the provision of water, sanitation and hygiene services and/ or infrastructure.
Buukinter revealed that, “alternative channels for product delivery come in various forms. The electronic channels of distributing products and services have a great advantage of increasing the efficiency, speed and convenience in service delivery. This is the reason why Nandom Rural Bank has been very active in leveraging on electronic channels for selling of products. In addition to E-zwich, the Bank has provided 24/7 ATM services to increase the experience of her customers. The impacts of the ATM and e-zwich services have been enormous”.
Some customers who transact business across the Ghana-Burkina Faso boarder have been fascinated by the deployment of ATM at the Bank.
The Bank showed very strong performance for the previous year. The Efficiency Monitoring Unit of the ARB Apex Bank has consistently placed Nandom Rural Bank in the ‘strong category’.
The Bank was also adjudged the Most Profitable Bank during the second edition of the Rural Banking Excellence Awards, held by the Association of Rural Banks at Bolgatanga in the Upper East Region. Prior to that, Nandom Rural Bank “was adjudged the Best Regional Rural and Community Bank during the maiden edition of the Rural Banking Excellence Awards”.
With regards to the 2018 Financial Year, the Bank has shown impressive performance in all key performance indicators except Profit Before Tax (PBT). The declining performance in the PBT Buukinter revealed “was largely influenced by unpaid interest income from Discount Houses”.
Francis Kogh Beinpuo, Chairman of the Board of Directors
He is barely a year old as Chairman, having assumed to the Board Chair in January 2018 and brings fresh energy and dynamism to the boardroom.
He revealed that one of the key things he noticed upon assumption of the role was that Nandom Rural Bank is “experiencing market saturation. We need to work together to develop products that address the needs of clients. Product development is expensive and will not be affordable for individual banks to develop in isolation, hence the need for collaboration”.
According to Beinpuo, “we have the vision to ensure that our bank becomes an equal opportunities employer, backed by a human resource strategy that rewards hard work and growth opportunities”.
That strategy, he said “would be anchored around cutting edge information communication technology (ICT) solutions”.
He also promises to “develop and introduce products and services that address the needs of our clients and that give us in a competitive advantage”.
The Board Chair also promises that the Bank would continue to “give back to the communities in which we operate and to be regarded as a good corporate citizen”.
He revealed that, “our strategies have translated into very good rating
for our Bank among the community of RCBs. We easily met the stated capital requirement ahead of the deadline not withstanding out difficult operational environment. We are still striving to improve value for our Shareholders”.
The Board Chair indicated that if the RCBs become profitable, they can attract more investment “and that is what Nandom Rural Bank has been striving for over the years”.
He said the staff are also generally satisfied. Beinpuo also stated that, he and his team of Directors would strive to improve the visibility of the Bank within the catchment areas.
Corporate social responsibility
In line with his vision to remain a good corporate citizen in the Nandom Traditional Area, the Board Chair said the Bank supports the following worthy causes:
a) Support to the Kakube festival of the chiefs and people of Fielmuo
b) Support to the Kakube festival of the people and chiefs of Nandom
c) Support for the Mefele festival, chiefs and people of Lambussie
d) Support to the Farmers’ Day Celebrations in the Nandom District, Sisasala West District, and Lambussie District
e) Construction of parking lots for Nandom Hospital
f) Sponsorship for brilliant but needy students
“We shall also improve access to higher education to needy student and improve security for hundreds of people who visit the Nandom Hospital for in-patient and out-patient services”.