by Esther Tagoe
Some banks have debunked claims of a possible slowdown in deposits from customers due to the upcoming general elections.
According to them, although they are threatened by the upcoming elections as businesses in the industry may slow down, they are hopeful of a good 4th quarter.
"We don't expect deposits to slow down; the level of business in certain areas may go down a bit but then we think it will be compensated for by increase in business in other areas because with elections, there is equally a boom in the sale of election paraphernalia," Managing Director of Capital Bank Rev. FitzGerald Odonkor said.
The CEO however explained to Citi Business News foreign investments are rather likely to decline over the uncertainty of the electoral results.
"I think that what normally slows down during this time is probably investments from outside the country but not for our local investors who are already in the country," he stated. . . .
To read the full piece from All Africa, click here.