Banks hopeful investments will pick up as depositors receive locked up funds

Some banks say they are anticipating an increase in their investment portfolio with the repayment of some locked up funds to depositors of the collapsed financial institutions.

Following the assurance to protect depositor funds, the government, through the Receiver, is making final payments to the affected customers of the savings and loans companies, finance houses and microfinance institutions.

The Head of Wealth Management at Standard Chartered Bank, Setor Quashigah, is confident the move should make it possible for investors seeking returns on investments to resort to opportunities such as the purchase of government Treasury bills and bonds.

She told Citi Business News investors can capitalize on the prevailing market conditions to invest.

“We have seen some crises in the investment banking space. Are people confident to invest? Maybe yes, maybe not. But we have been around. And we have said we are here for good, we aren’t going anywhere. So, why don’t we guide people on what’s out there and what you can do? Don’t give up at all. Now we have seen that payments are being made to some of the people who lost their money.”

“When they collect the money, we don’t think they are going to spend it in a hurry. We should give them the confidence to know that you may have had some lows somewhere but we are happy to guide you,” the Head of Wealth Management at Standard Chartered Bank said

Citibusiness news