Authors: Monaliza Armah1 | Harriet Fosua Attafuah2
1Lecturer, African University College of Communications
2Assistant Librarian, University of Energy & Natural Resource
The nature of GCB Bank in Ghana has gone through various stages of transformation in service delivery. Traditionally the bank had been predominantly occupied in just cash related activities like accepting deposits, paying cash and opening accounts as well as giving out loans to customers. However, in the wake of competition and technological advancements, bank in Ghana have been more innovative, crafting new ways of reaching out to prospective customers and retaining more customers to their base. Various strategies have been adopted by bank to increase their share of the market in recent years. This study seeks to identify the traditional mode of operation by the Management of the bank and some of the strategies adopted by the bank in the competition. The study seeks to identify some of the opportunities relationship management can bring to the GCB bank as they strategize to compete and gain profits in the market. Banking plays a very crucial role in the financial service in Ghana. It could be said to be the most crucial as it is the main engine of financial mobilization for both public and private sector growth. The importance of the industry could be traced to the economic recovery programme in the financial sector adjustment programme. The purpose of the programme was to overhaul the sector in Infusing capital and expertise to the distress banks, ensuring supervision as well as regulatory framework for the bank and improving resource mobilisation as well as increase of credit financing by the bank. According to the Bill of Exchange act of 1822, S.2 (Kelly J.E 1987), Banking is defined as anybody or person whether incorporated or not who carries on the business of Banking. A bank, according to a case between United Dominion Trust v Kirkwood (1966), the court of appeal felt that a bank should accept money from and collect cheques for their customers, placing them to their accounts, honor cheques or order drawn on them by the customers, when presented for payment, keep current accounts (or something of that nature and record debits and credits in them) source: Paul Raby; Law relating to banking services 1992) series by Julian Beecham.
Keywords: Celebrities Advertisement, Consumer Purchasing Decisions, Mobile Telecommunication