The Pacific Savings and Loans Company Limited was incorporated as a non-bank financial institution on March 2, 2004. It was among the first non-bank financial institutions to be established in the Ashanti Region and Ghana for that matter.
The company started with an initial share capital of GH¢2, 3330,000 and opened its doors to the public for banking services on September 15, 2004 and increased its share capital to GH¢7,359,000 in November 2013.
PSL Company was established to provide an alternative low cost access of choice to the unbanked public that had hitherto lacked access and attention from the traditional banks. It is thus expected to mobilize idle or surplus funds and channel these funds to deficit holders to promote economic activities. PSL is thus to engage in the ordinary business of banking through mobilization of deposits and investing these funds through its customers to support viable and profitable economic ventures and activities.
Pacific Savings and Loans Company Limited(PSL) envisions itself as providing a cheaper, expedient and responsive access of choice to financial solutions by engineering innovative products and savings mobilization that meet and exceed the special needs of the under-banked.
The mission of Pacific Savings and Loans Company Limited is to promote an alternative access of choice to the ‘unbanked public’-by providing a range of services to individuals and sectors of the economy that have hitherto lacked access and attention from the traditional banks-thus inherently denying the majority the access to economic dignity and self sufficiency.