Ecobank extends unsecured civil servants personal loans up to K15m for both account and non-account holders

* Seeks to avail a quicker and affordable financing option for all government employees across the country

* Only needs to fill an application form and present their National ID

* With no need for a letter of undertaking or changing one’s pay point

By Victor Singano Jnr, Correspondent

Ecobank Malawi has extended unsecured personal loans for civil servants account an non-account civil servants up K15 million on a 36-month tenure respectively.

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The Bank’s country head of consumer banking, Sophie Kalambule said the unsecured personal loan seeks to avail a quicker and affordable financing option for all government employees across the country.

“At Ecobank, we always put the interest and needs of Malawians and our customers at heart,” she said. “With this client-centred innovative loan, we have streamlined the loan application process to easily cater for any civil servant — banking or not banking with us.

“To apply, the civil servant only needs to fill an application form and present their National ID with no need for a letter of undertaking or changing one’s pay point.

“Within minutes, customers will be advised of the total loan they can afford and monthly instalments applicable. Upon approval, funds will be disbursed in their account within 48hrs.

“We believe that this loan will go a long way in fulfilling dreams and plans for many Civil Servants.”

Kalambule

Kalambule further disclosed that the tenure of 36 months drives up the affordability, making it possible for more civil servants to afford loans of substantial amounts of up to a maximum of K15 million.

She also said to increase easy access of the loan, the bank has come up with an online pre-application form — https://forms.office.com/r/6u55Et7cxY — where, upon filling in the necessary details, customers will be contacted to advise them of their affordability.

In announcing its 2022 half year summary of unaudited results in which Ecobank recorded a profit before tax of K11.6 billion in August, management of the bank said the sustained growth underscores its resilience “arising from its leadership position in trade finance, the digitization of products and services, operational efficiency, and excellence in delivery of customer-centric services”.

“The operating environment in the second half of the year is projected to remain unstable as the first half, taking into consideration of “rising commodity prices, intermittent electricity power supply and uncertainty caused by Russian-Ukraine conflict, which pose threats to projected GDP growth for the year”.

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The bank, however, said it remains focused on serving the needs of its customers, shareholders, staff, and all other stakeholders, saying in a statement: “In the second half of the year and beyond, the bank will accelerate the sale of its world class digital solutions targeting every Malawian.

“The Bank will provide more convenience to its customers by improving on existing product lines and introducing new ones. It will also continue to play a leadership role in the key sectors of the economy and the African continent by leveraging on its partnerships around the world.

“Ecobank is cautiously optimistic about the future and will continue to make the appropriate investments to bring more value to its customers and other stakeholders.”

Ecobank Malawi Ltd is part of the Ecobank Transnational Incorporated, the parent company of the Ecobank Group, which is the leading independent pan-African banking group, which employs over 14,000 people and serves about 29 million customers in the consumer, commercial and corporate banking sectors across the 33 African countries.

The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK and Dubai, the United Arab Emirates.

It offers a full suite of banking products, services and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth, and asset management.

Ecobank Transnational Incorporated is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan.

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