The Frerol Rural Bank, a member of the First Sky Group aims at providing social intervention services to contribute accelerate the growth of the local economies in the areas it operates.

Micro, small and medium scale enterprises are targets that would benefit from these services where they can access loans at low-interest rates with favorable terms and conditions.

The Board Chairman of Frerol Rural Bank, Prof Richard Bani, made this known at the commissioning of the Ho branch of the Bank.

He explained that the bank does not seek to make profits but to offer help to promote local businesses to enhance the livelihoods of their customers.

“Our philosophy is not profit-based. This is a social intervention that we are doing. None of the shareholders takes a dime from the bank. Everything that we get would be ploughed back into the community,” he said.

He added that the Bank has exhibited its commitment to the welfare of society through its corporate social responsibility activities.

"We also have social responsibility policies where we support good course. During the [peak of the coronavirus] pandemic, Frerol donated PPE worth a GhC100,000 to the Margret Marquart Catholic Hospital, Kpando."

The Executive Chairman of First Sky Group, Eric Seddy Kutortse said the bank would offer loans to micro, small and medium scale enterprises at low-interest rates, aimed at supporting the traders and startups to grow their businesses.

The General Superintendent of the Assemblies of God Church, Rev Prof Paul Frimpong-Manso urged the management of rural banks in the country to abide by the regulations of the Bank of Ghana and Apex Bank in their operations.

He believes this would ensure sanity in the banking sector which would replicate the growth of the economy, and prevent future crisis in the banking sector.