FirstBank Ghana has officially introduced its Private Banking and Wealth Management Service in Kumasi, a significant development designed to offer personalized banking experiences that cater to the unique financial needs and aspirations of high-net-worth individuals and families across the country.

The service promises to deliver a comprehensive suite of products, including investment management, estate planning, tax advisory, and tailored credit solutions.

With 130 years of experience, the Bank is certain their expertise in the banking field offers clients the privilege of working with dedicated relationship managers who are committed to understanding their individual needs and providing exceptional service.

CEO of FirstBank Ghana Limited, Victor Yaw Asante, emphasized the need to protect wealth without being affected by inflation and depreciation.

“High net worth individuals are usually also interested in how to protect their wealth. The two key things that affect wealth quickly are inflation and depreciation, so you always make sure you’re invested in instruments and in products that protect the value of your money”.

“The whole point is about getting a return that is above what you lose as a result of depreciation and inflation. It is one of the reasons why you must invest. Try to find instruments that will give you a return that is higher than what you lose as a result of inflation. So first make sure you don’t lose value and then make sure you get a good return on it,” he said.

The event featured notable financial experts who shared insights on current market trends, investment strategies, and the importance of wealth management in achieving financial security highlighting the growing demand for personalized banking solutions in Ghana, particularly among the affluent demographic.

Idowu Thompson, Global Head and Group Executive Private Banking and Wealth Management for FirstBank Nigeria, highlighted the continuous change in the economic landscape and assured they will adapt to new strategies that protect the wealth of their target audience.

“With the change in economic landscape, the rate of adoption has also transformed greatly. Change isn’t always bad and challenges doesn’t mean that it’s an end in itself. We will continue to engage all opportunities we can to meet needs,” he stated.

He further explained that even though the initiative targeted high-net-worth individuals, it is all inclusive for anyone who sees the need to manage their finances.

“We are speaking to private wealth but it’s also more inclusive these days. So it’s not just something that is for the super affluent or high valued people. It’s for everybody who wants to know how they can better organize their finances so they can live their best lives,” he explained.

The Head of Private Banking and Wealth Management, Catherine Ekar, assured that as more individuals seek personalized financial services, the bank is poised to meet personal demands and goals of clients.

“How we will cater for needs is going to be very specific, tailored to each person’s needs. Depending on what their goals or their financial plans are, you make a solution for them. For some clients it’s about safeguarding their wealth for future generations, for some it’s about hedging against forex, so we look at how we set a portfolio for them to achieve their goals. It’s really important to know your clients and understand what their goals are,” she said.