Universal Bank Case Study

Fiakpe (2009) in his study of Nigeria Savings Market stated that the interest paid on savings deposit is usually the least but the cost of administration could be much considering the retail nature of the market. However, pooled together, funds from this market constitute a veritable source of cheap money for banking business. The more of these funds a bank can garner, the cheaper it would be for it to transact business. It is for these reasons that most banks are deploying men and resources to explore this market the more. Fiakpe (2009) is of the opinion that compared with other market segments, the savings market is still the least developed, an indication that not much has been done to mobilize sufficient funds from the informal sector of

In pursuance of the company’s long-term objective of becoming a Universal Bank, and in line with the recent Bank of Ghana Notice No. BG/GOV/SEC/2011/04 on operating rules and guidelines for microfinance institutions, the promoters of Multibility Ventures have upgraded the company to microfinance status.

The principal business activity of the company is to provide tailor made financial solutions to its cherish clients in various sectors of the economy with support from Multibility Construction, Multibility Electrical and Installations and Multibility Transport Services all geared towards providing total reliable financial and business development advisory services to our customers.

Vision Statement

To be the leading and preferred microfinance company in Ghana offering comprehensive financial solutions at the micro level.

Mission Statement

To delight our clients by providing valued services in many ways', provide a positive work environment for the growth of our employees and contribute our quota to the sustenance of the environment and the community at large.

Core Values

 Relationship

 Innovation

 Professionalism

 Service

Winning the trust of poor clients, convincing them to put their hard-earned money into the custody of institutions is a sensitive issue. However, products are often developed in a top-down fashion, rather than customized to the needs of different target groups. The savings products of the company as well as their features continue to be communicated through circulars and other informal methods. This limits the level of detail and consistency about savings products and services, details which are required by the front line staff who are expected to market them to potential