Several branches of the Pan African bank, EcoBank in Cameroon have been closed recently sparking mixed feeling among clients. Many have withdrawn huge sums or simply closed their accounts for fear of being a victim of the bank filing in for bankruptcy.
Information circulated on social media that the bank is gradually going out of business. The situation prompted the administration of the Bank to hold a press conference at the Bank’s headquarters in Douala and dismissed the rumors as baseless.
The General Manager, Gwendoline Abunaw assured her clients that no such issues were associated with the bank. She revealed that the bank is currently modernizing its operation procedure with digital technology.
Besides the traditional operations, the bank has opted for mobile banking to provide cost effective, convenient, flexible banking. Added to its digital technology will be physical banking services provided by local branches, ATM and cash deposit points in nine of the ten regions. The Bank has been operating in Cameroon for 16 years.