Risk Watch with Alberta QUARCOOPOME: Late banks closure … time for a review?(2)

Dear Readers, thanks for the feedback about my recent article, on my social media posts. The lengthy article from Sanjay Kumar Jaiswar, gave us a lot of insights on the effect of late sitting in banks.
I looked at the reasons ascribed to late closure of some banks in the early 2000s when cash was king and banks needed to mop up as much cash as possible. However the automation of cheque clearing, and the introduction of digital banking has deepened financial inclusion, with many customers reducing branch visits to the barest minimum.

I did not asked for scrapping the policy altogether. What I recommended was for banks to restrict late closure to branches which needed such services for economic purposes. I will however continue my advocacy using more information and give more food for thought.
From the employees’ side, they undergo tremendous strain and stress and whatever work they do or pretend to do after regular office hours leads to losing one’s morale and motivation. From the organizational point of view, on the face of it, it may appear that extra output has been achieved. But in reality, people’s efficiency gradually comes down during the day and at one point, it tapers off.

Extended Branch Hours
Some banks in Ghana, especially in Accra and other major cities, operate late closure branches that stay open beyond the usual 4–5 PM. Certain branches extend hours until 6 PM or later, particularly in busy commercial areas. In addition, select branches offer Saturday banking and extended weekday hours. Banks that are located in malls and high-traffic zones also have extended hours are meant to serve customers who cannot visit during standard banking times. To summarize, let me put it this way:
• Customer convenience: Many Ghanaians work long hours, so evening banking helps.
• Business hubs: Branches in malls or commercial centers often align with retail closing times.
• Competition: Banks use late closure as a way to attract and retain customers.

The Average age of staff working in bank branches
Now, lets look at the average age of bankers in the banking halls in Ghana. There is no published statistic on the exact average age of bankers working in branch offices in Ghana. However, available data and industry reports suggest that most frontline and mid-level banking staff in Ghana are relatively young, typically in their late 20s to mid-30s, reflecting the country’s youthful labor force and the entry-level nature of many branch roles. Senior managers and executives tend to be older, often in their 40s and 50s.

Ghana has a median population age of about 20 years, and this demographic trend carries into the banking sector. Many branch employees are fresh graduates or early-career professionals. The entry-level roles are Tellers, customer service officers, and relationship managers and these are often recruited straight from universities, meaning ages 25–35 dominate branch staff. Management roles like Branch managers and senior officers are more experienced, typically 40–55 years old.

Key Feelings of Young Bankers
Someone may say: “Why are you bothered about the feelings of young bankers? After all, we all went through it. If they cannot stand the heat, the exit is always there as an option. Banking is tough, and is a survival of the fittest. How can we make those profits for them to enjoy? Afterall, there are thousands of others knocking on our doors!”

Sure, that is true, but here me out first:
• Resentment toward extended hours: Many bankers dislike staying late, describing it as a forced choice rather than voluntary.
• Work-life imbalance: Younger staff often feel deprived of personal time, especially when branches close as late as 6 PM or operate on Saturdays.
• Stress and fatigue: Studies in Ghana show that long working hours contribute to psychosocial stress, affecting both mental health and physical well-being.
• Perception of unfairness: Employees feel management decisions prioritize customer service over staff welfare, leaving them with little say in closure policies.

The Controversy
• Customer convenience vs. staff welfare: Banks argue that extended hours serve busy clients, especially in commercial hubs and malls.
• Cultural shift in banking norms: Since the early 2000s, closure times have moved from 3 PM to 4–6 PM, becoming standard practice.
• Generational expectations: Younger bankers, who value flexibility and balance, often clash with traditional banking culture that emphasizes long hours.

Risks and Challenges
• Health risks: According to University of Cape Coast Institutional Repository, “PSYCHOLOGICAL STRESS AMONG BANKERS DUE TO LONG SITTING HOURS:CASE STUDY OF UCC BANKS” by Antri,Kwadi Atopa, Dramani Yusuf dated 02/2017: Stress from long hours can lead to burnout, anxiety, and reduced productivity.

The abstract reads:
“The study aimed at investigating the impact of psychosocial stress among bankers in the University of Cape Coast in the Central Region of Ghana. The study focused specifically on the following: examine the psychosocial stress on bankers due to long working hours, find out the strategies that bankers could adopt to reduce stress associated with long working hours and lastly assess the impact of psychosocial stress on the health of bankers. The convenience sampling technique was used to select 76 participants for the study. The results of the study indicated that on the psychosocial stress associated with long working hours among bankers, bankers generally reported that they were aware of the psychosocial stress based on the statement outlined on the questionnaire.

Health-wise, to a great extent that psychosocial stress associated with long working hours do not affect the health of bankers in the University of Cape Coast. Management commitment to employee-related issues such as paying attention to workload conflict and the introduction of proper stress management training programmes were perceived as significant steps which if embraced, were identified as major contributory factors that could contribute to the alleviation of psychosocial stress among staff.”
• Talent retention: Younger bankers may leave the industry for roles with better work-life balance.
• Declining morale: Persistent late closure without staff input fosters disengagement and dissatisfaction.

Comparison: Staff vs. Management Perspective
Perspective View on Late Closure Impact
Young Bankers See it as unfair, stressful, and disruptive to personal life Leads to fatigue, stress, and lower morale
Management Justifies it as necessary for customer service and competitiveness Improves accessibility for clients, but risks staff dissatisfaction

In short, young bankers in Ghana feel late closure policies undermine their well-being, and while banks see it as customer-focused, the practice risks long-term staff morale and retention.
Comparison of Traditional vs. Digital Banking in Ghana
Aspect Traditional Branch Banking Digital Banking Solutions
Closure Times 4–6 PM, sometimes Saturdays 24/7 access via apps & mobile money
Customer Experience Queues, paperwork, face-to-face service Instant transactions, self-service
Staff Impact Stress, late hours, reduced work-life balance Less pressure, fewer late closures
Reach Limited to branch locations Nationwide, even rural areas with mobile coverage

Way Forward:Killing Two Birds with a Stone
Ghanaian banks are increasingly turning to digital solutions—especially mobile money, online banking apps, and interoperable payment systems—to reduce reliance on late branch closures, aiming to balance customer convenience with staff well-being. The Bank of Ghana’s 2025–2029 National Payment Systems Strategy is central to this shift, pushing for a cash-lite economy and expanded digital finance infrastructure.

Key Digital Solutions Reducing Late Closure Pressure
• Mobile Money Dominance: Services like MTN Mobile Money and Telecel Cash allow customers to transfer funds, pay bills, and shop without visiting branches.
• Bank-Fintech Partnerships: Banks collaborate with fintechs to integrate mobile wallets, enabling seamless transactions across platforms.
• Interoperability: Ghana has achieved cross-platform interoperability, meaning customers can send money between different mobile networks and banks instantly.
• Online Banking Apps: many Banks offer apps for account management, transfers, and loan applications, reducing the need for physical visits.
• Digital Bill Payments: Customers can pay utilities (ECG, DSTV, water bills) directly via mobile apps, eliminating queues at branches.

All this is good, but reducing banking hours across board may be unrealistic for some branches. Many branches report fewer customers during peak hours, as most routine transactions are now digital. Selective Late Closure: Extended hours are increasingly limited to high-demand locations (e.g., malls, commercial hubs), while smaller branches stick to 4 PM closure. Saturday Banking is declining as digital adoption grows, fewer banks see the need for weekend operations.

The success of optimum digital banking also faced with risks such as cybersecurity threats: Rising cybercrime and fraud attempts remain a major concern. Moreover Ghana is faced with digital literacy gaps: Some customers, especially older ones, still prefer physical branches. Infrastructure dependence is also a concern. Reliable internet and mobile coverage are essential, which can be inconsistent in rural areas.

As digital adoption accelerates, late closure may become less common, with banks focusing on digital-first service delivery while maintaining selective extended hours for niche customer needs.
Outlook
The Bank of Ghana’s 2025–2029 strategy aims to make Ghana’s payment systems globally competitive, further reducing the need for extended branch hours.
As digital adoption accelerates, late closure may become less common, with banks focusing on digital-first service delivery while maintaining selective extended hours for niche customer needs.
Next week, I will examine the strategies banks in Ghana are now using to alleviate stress among bank staff due to long working hours.

To be Continued

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