Databank says it has no dealings with INVEST-XD and has therefore disassociated itself from an investment website INVEST-XD, which claimed to be a business partner to the bank.
In a press statement issued on Tuesday, Databank said it is “not in partnership with this INVEST-XD company and is not aware of any agreement wherein Databank pays INVEST-XD any commission”.
The statement further added: “our attention has been drawn to a website called INVEST-XD in which Databank is alleged as having a partnership with INVEST-XD. The website is encouraging the public to invest in a number of products, including Databank MFund and claims that the financial institutions listed on the website, including Databank, pay INVEST-XD a finder’s fee.”
The bank continued by saying there are no representatives of INVEST-XD employed by or on behalf of Databank and cautioned the public to be circumspect when dealing with this company as Databank would not be held liable for any losses that may occur by virtue of any investments made through this company.
Founded in April 1990, Databank seeks to empower its customers to achieve financial independence by promoting financial literacy and offering a diverse range of investment products.
Investors can access fixed-income investments (including treasury bills), trade shares listed on the Ghana Stock Exchange and enjoy corporate finance advisory services through its brokerage wing.
Through its asset management wing, investors can access mutual funds such as Epack, MFund, BFund, ArkFund and EdIFund, institutional fund management for corporate, benefit and endowment funds, pension fund management and private wealth management services.
Databank has 19 locations across 8 regions in Ghana. It has branches in Accra (HQ), Ho, Koforidua, Kumasi, Takoradi, Tamale, Tema and Sunyani.