The Evolution of the Banking Industry Essay Example for Free

The Evolution of the Banking Industry Essay At independence, there were only two foreign banks, Barclays and Standard Chartered Banks that were dominant players in the country. Naturally, their operations were structured to support the colonial economy. Research indicates that the Bank of Gold Coast was later split into Ghana Commercial Bank and Bank of Ghana in 1957. In contrast to the existing Foreign Banks GCB was set up to provide banking services to a wider populace of Ghanaians and to support the development agenda of the indigenous government. Research indicates that the National Redemption Council, (military government) as part of its indigenization policy acquired 40% ownership in the two foreign banks but his did not change their business strategy. The main complaint against the foreign banks was that their lending policies were too conservative. During the PNDC era, two foreign banks were licensed that’s BCCI and meridian Biao. The BCCI collapsed in 1991 with a large foreign Exchange liability it could not manage. Meridian Biao almost collapsed in 1995 due to an imprudent foreign exchange exposure to its distressed parent company. After the return of democratic rule in 1992, two Malaysian Banks were licensed. The two were Metropolitan and Allied Bank and International Commercial Bank. Besides, a South African Bank, Stanbic Bank, was also licensed. The collapse of two Ghanaian banks, that’s Bank for Housing and Construction and Co-operative Bank confirmed that the financial sector required effective management of risks. The assurance was however that the new regulatory regime was more effective and so it was unlikely that such bank failure could occur again. Banks with foreign equity participation became stronger and more profitable by the year 1990. Financial experts have argued that the collapse of BCCI and near collapse of Meridian Biao raises question about how well foreign banks are insulated from the difficulties of their parent companies. An IMF study of the banking industry in 2003 stated that Ghana’s market structure was slightly less competitive than that of Nigeria and Kenya. Nigeria is however a huge economy as the economy of Ghana grows at a faster pace, private Foreign Direct Investment facilitated by Nigerian Banks may play a key role if well directed. Indications are that Ghana will become the financial hub of West Africa soon. Due to common historical experiences, Ghana appears to be a natural next step for Nigerian businesses seeking to expand their operations beyond Nigeria. Foreign Banks in Ghana include Barclays Bank, Standard Charted Bank SG-SSB, Ecobank Ghana Limited and UT Bank. Others are International Commercial Bank, Stanbic Bank, Standard Trust Bank, Zenith Bank and the Guaranty Trust Bank. The rest are Intercontinental Bank, Access Bank Ghana and Sahel Sahara Bank.

Failures in Death of a Salesman by Arthur Miller Essay example -- Paper

Failures in Death of a Salesman by Arthur Miller Arthur Miller develops a number of significant and central themes throughout the play using techniques such as characterization, setting and language. The best explored theme in the play is the theme of failure and disappointments. 'Death of a Salesman' is a modern day play about a salesman, Willy Loman, his life and his failures in a success driven society and world. He is a victim of "The American Dream" destroyed by false promises and ideals. As the play unravels we realize that he more than just a financial failure but also socially, personally and morally. These failures and faults are not only confined to him but they rub off on his family. The storyline shoots from present day to past throughout the play this does not affect the theme of Failure very much but helps us understand and realize how these failures came about. Willy's entire life is a succession of missed opportunities and chances, and he considers himself a failure because of it. At the beginning of Act 1 we see him failing to make the drive to his business appointment, so he's going to miss out on making a sale because of it. So our first impression of the man is him failing to deliver. As the play proceeds we see Willy comparing himself to his relations or friends realizing that he is even more of a failure. Willy is a failure when compared to his father. Ben asserts "that he could sell more in a week than Willy could in a lifetime". He is represented as someone who was successful in his own way as Ben tells us: 'Great inventor, father. With one gadget he made more in a week than a man like ... ... could not handle it so commits suicide. This is interesting as his death was a financial failure too as life insurance does not cover suicide. His funeral was a failure because no one apart from his close family Charlie and Bernard came. So no matter how sad it sounds but Willy Loman's life was an entire failure. Until this day Willy Loman is a symbol of failure because of society's false value system. This play is based the mid 20th century when success was achieved through hardwork and industry and wit and charm would not earn you a living and this is the main reason Willy Loman failed in life. The play is one of the great tragedies and is a very depressing experience for the audience. No matter how much Willy deserved to fail because of his poor value and morality we cannot but feel sorry for this confused man.

A Job Application Letter Essay

Paragraph One tells where you found the job opportunity and what the job title is. I am writing in response to your advertisement in the January 16 Philadelphia Inquirer. I believe that my academic training at Drexel University in Electrical Engineering, along with my experience with RCA Advanced Technology Laboratory, would qualify me for the position of programmer. Paragraph Two details your education credentials. Make special note of those skills the employer has mentioned in the job ad. My education at Drexel University has given me a strong background in computer hardware and system design. I have concentrated on digital and computer applications, developing and designing computer and signal-processing hardware in two graduate-level engineering courses. For my senior-design project, I am working with four other undergraduates in using OO programming techniques to enhance the path-planning software for an infrared night-vision robotics application. Paragraph Three contains your work experience. Again, note skills the employer wants in an employee. While working at RCA, I applied my computer experience to the field of the VLSI design. In one project I used my background in LISP to develop and test new LISP software used in the automated production of VLSI standard cell family databooks. In another project, I used CAD software on a VAX to evaluate IC designs. The last paragraph gives your phone number, email, and time you can be reached. Also, make mention of your resume. The enclosed resume provides an overview of my education and experience. I would like to meet with you at your convenience to discuss my qualifications for this position. Please write to me at the above address or leave a message anytime at (215) 555-5876.

The Day Of The Holiday Shopping Season Essay - 884 Words

Thanksgiving day marks the beginning of the holiday shopping season. Americans are more inclined to take out their credit cards – ‘tis the season to be jolly and shop. One would think that consumers holiday shopping greatly affects gross domestic product (GDP). After all, personal consumption expenditure is roughly 70% of U.S. GDP. GDP growth in the last quarters however, have not consistently exceeded the other three quarters of the year looking at data after the 2007-2009 Great Recession. Nevertheless, retail sales - a leading indicator – provide clues on the economy’s overall consumption activity. An uptick in retails sales is expected in December each year. Based on historical data, monthly retail sales – that is retail trade and food services excluding autos, show a definitive pattern: December retail sales are higher than other months of the year. Data going back the last 23 years show double-digit retail sales growth in each December. In December last year, monthly retail sales increased 17.9% from November – a $64.7 billion increase. In 2014 the increase in retail sales from November to December was $55.8 billion. American’s shopping spree affects credit union operations. Unlike auto and mortgage lending which is roughly 80% of credit union loan portfolio combined, last year credit card loans was 6.2% of loan portfolio. In the last five years, credit card loans stayed above 6.0% (but under 7.0%) of credit unions loan portfolio – with a high of 6.6% in 2012. ItShow MoreRelatedEssay on Consumerism526 Words   |  3 Pages If you want to know if all of our holidays have been turned into consumer driven shopping orgies, the answer lies in the major department stores. Take a walk through Macys or Lord or Taylor or any major store in Oct. and notice the Christmas decorations. Thats right, Christmas decorations. `Tis the season to break the bank. Our capitalistic society is always looking for a reason for driving consumerism and what better reason than a holiday! If theres a month without one, well make one upRead MoreBlack Friday Essay837 Words   |  4 PagesThanksgiving Day in the United States, traditionally the beginning of the Christmas shopping season. Black Friday is not an official holiday, but many workers have the day off as part of the Thanksgiving holiday, this increases the number of potential shoppers. Retailers often decorate for the Christmas and holiday season weeks beforehand. Many retailers open extremely early, with most of the retailers typically opening at 5 A.M. or even earlier. Retailers use Black Friday to kick off the holiday seasonRead MoreThe Gift Of Analytics : Ramp Up For The Holidays By Focusing On Customer Analytics Essay1231 Words   |  5 PagesThe gift of analytics. Ramp up for the holidays by focusing on customer analytics. With the help of data, your team can target buyers, plan seasonal promotions, and manage your inventory levels. Research shows that â€Å"49% of companies who champion the use of customer analytics are likely to have profit well above their competitors.† It’s one of the best ways to differentiate your business in the market. â€Å"Customer analytics enables organizations and enterprises to make data-driven business decisionsRead MoreU.s. Intelligence Community ( Ic )1266 Words   |  6 Pageswithin the U.S., to be perpetrated within the next 30 days in the month of December. This plan involves the use of twenty (20) suicide bombers, also equipped with automatic weapons, targeting the ten (10) largest shopping malls in the country during the holiday shopping season. The terrorists are believed to already have the weapons and explosives necessary and are also believed to have been living in the U.S. for at least one year. 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In most firms, they also haveRead MoreBlack Friday History718 Words   |  3 Pages  Ã‚  Black  Friday  is  the  day  after  Thanksgiving  in  the  United  States,  where  it  is  the  beginning  of   the  traditional  Christmas  shopping  season.  Since  Thanksgiving  falls  on  the  fourth  Thursday  in   November  in  the  United  States,  Black  Friday  may  be  as  early  as  the  23rd  and  as  late  as  the   29th  of  November.  More  recently,  there  is  new  understanding  that  the  term  originates  from  the   theory  that  retailers  traditionally  operated  at  a  financial  loss  for  most  of  the  year  (January   through  November)  and  made  their  profit  during  the  holiday  seasonRead MoreEarly Openning on Thanksgiving1451 Words   |  6 PagesThanksgiving Day, which is always the fourth Thursday in November in the United States, is a week from today (today is Nov. 15, 2012; Thanksgiving Day is Nov. 22 this year). The day after Thanksgiving Day is called â€Å"Black Friday† in the business world. â€Å"Black Friday† is the unofficial beginning of the Christmas and Hanukkah shopping season. The word â€Å"black† in â€Å"Black Friday† is an accounting term meaning â€Å"profit.† Businesses that have been operating â€Å"in the red† prior to Thanksgiving Day will hopefullyRead MoreA Commercialized Christmas Essay1079 Words   |  5 PagesStates in this day and age, people are most likely all too accustomed with this typical rush promoted between important festivities. It’s exclusively about generating maximum revenue for the large corporations as frantic shoppers attempt to assuage their stress through hour upon hour of incessant shopping; arising in our society today, an important question of whether or not this avaricious behavior communicates total loss of understanding as to what the true meaning of the season represents. InRead MoreThe Christmas Of The German Christmas Essay1301 Words   |  6 PagesMatt Robidoux Dr. DeMisty Bellinger-Delfeld Writing 1 11/2/16 A couple of years ago my sister was involved in the student exchange program, and we had a student from Germany. She styed with us during the holiday season. She explained to us how the Christmas was celebrated differently in the two countries. Here are some of the things I learned   There is a huge difference of how Christmas is celebrated in America and how it is celebrated in Germany. Many Christmas traditions that we have in America