Ethics is the foundation of banking – Victor Yaw Asante

FirstBank Ghana’s Managing Director and Chief Executive Officer, Victor Yaw Asante, delivered an inspiring address at the 30th induction ceremony of the Chartered Institute of Bankers, Ghana.

The event, held on Saturday, July 13, 2024, saw 237 inductees, including aspiring and practicing bankers, officially welcomed into the esteemed institution.

Mr. Asante began his address by congratulating the new members. “It is always a great delight to end a journey of academic and professional pursuit, and I can feel the relief and joy of our newly graduated students at this very important institution. Congratulations,” he said.

He acknowledged the significant milestones the inductees have achieved, emphasising the importance of their commitment to ethical practices, sustainability, and professionalism in the banking sector.

Reflecting on the global and local challenges faced by the banking industry, Mr. Asante highlighted the financial crisis over the past decades, including the recent banking sector clean-up in Ghana.

He pointed out that issues such as poor regulatory oversight, dishonest accounting, speculative activities, and poor corporate governance were major contributors to these crises. He said, “All the issues that have been identified can be summed up under the theme of today’s ceremony, ethics, sustainability, and professionalism.”

Sharing his personal journey, Mr. Asante recounted his career that began in 1996 with Unilever Ghana Limited, transitioning into banking in 1998 with Merchant Bank (now Universal Merchant Bank). His roles spanned marketing, sales, corporate relations, and relationship banking.

He later joined Standard Chartered Bank Group, serving in various leadership positions, and eventually became the Head of Corporate, Commercial, and Institutional Banking at First National Bank Ghana.

Currently serving as the Managing Director and CEO of FirstBank Ghana, Mr. Asante’s career has been marked by a commitment to innovation and excellence in banking.

“This banking journey through Ghana, the UK, Botswana, and coverage of West Africa has allowed me to drive innovation and excellence in banking while serving our customers and community,” he noted.

Emphasising the foundation of the profession, Mr. Asante stated, “Ethics is the foundation of our profession. It builds trust and credibility, which are essential for long-term success.” He urged the inductees to commit to ethical behaviour, highlighting the importance of integrity and transparency.

He shared his personal commitment to ethics, influenced by his involvement in Rotary International, and encouraged the inductees to uphold these values.

Addressing the need for sustainability, Mr. Asante said, “Sustainability is not just an option but a necessity. It is about ensuring that our banking practices contribute positively to the lives and livelihoods of people, the planet, and profit, all of which bode well for the economy.

“He urged the new members to commit to sustainable practices that drive innovation, customer loyalty, and financial stability.

On professionalism, he said, “Professionalism involves maintaining high standards of competence and conduct. It is the foundation upon which our industry is built.” He encouraged continuous learning, staying informed about industry trends, and striving for excellence.

Mr. Asante also highlighted the importance of community involvement, sharing his two-decade-long membership in Rotary International and his role as a Rotary International District Governor for District 9102, Ghana. “Engage in community service and give back to society. It enriches your life and strengthens our communities,” he advised the new inductees.

Concluding his address, Mr. Asante welcomed the new members to the noble profession of banking. “Uphold the highest standards of ethics, strive for sustainability in all your endeavours, and maintain professionalism in every aspect of your work,” he advised.

He expressed his confidence in their potential to make significant strides in the industry and contribute to a trusted, resilient, and socially dedicated banking sector.

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