HFC bank has debunked the claim that the layoff of some of its employees is connected to an ongoing acquisition negotiation with two other commercial banks in the country.
The bank last month began the process of laying off all its drivers in a bid to cut down on operational cost.
However, the move was received by the business community as an indication that ahead of the full unfolding of the Bank of Ghana’s sweep of the banking sector: HFC was taking steps to ensure guaranteed footing in the industry regardless of what conditions the reform process may impose on commercial banks in the country.
Defending the position of the bank on these allegations, Managing Director Robert Le Hunte told the media that he “can emphatically state that there is no truth to that statement, there is no truth in the allegations about arrangements between myself and UT Bank or Capital Bank. There is no deal by the trustees to acquire Capital Bank neither is there a deal by the trustees to acquire UT Bank.â€.
He added as well that there is no negotiation with public relations company Stratcom Africa for the outsourcing of the customer service department of the bank as it is also being alleged.
HFC bank in a letter issued to the retrenched drivers said it had â€taken a concrete decision to terminate [their] contract effective 1st August 2017 which also serves as your notice period. Your last working day with HFC Bank is, therefore, 31st August 2017."
The drivers would be paid 2 months for each completed year of service and any outstanding leave would be commuted to cash.â€
The HFC developments form part of a series of measures adopted by various banks in the country following the decision of the government through Bank of Ghana to raise capitalization and forcefully merge, or shutdown banks that fail to meet some basic requirements under the new banking reforms.