Access Bank Ghana, recently adjudged Bank of the Year, has recorded another year of strong and impressive performance across key financial indicators in its 2014 performance.<\/p>\n
[contextly_sidebar id=”o67JypXjhiiqEkSGBUeaxctuQWrdgAxV”]The Bank\u2019s growth trajectory over the past 6 years has been consistent and continues to reflect its commitment to delivering banking services that are sustainable and relevant to the local market.<\/p>\n
The financial statement audited by Pricewaterhousecoopers (PwC) and approved by the Bank of Ghana, saw the Bank\u2019s Profit Before Tax (PBT) soar by 72% from GHS71.8 million in 2013 to GHS 123 million in 2014, while Gross Earnings increased by 66% from GHS 187.1million to GHS 311.4million, underscoring the Bank\u2019s increased earning capacity.<\/p>\n
Industry watchers say the Bank\u2019s performance is striking, given the economic conditions and tight fiscal policies in 2014.<\/p>\n
Similarly, Access Bank\u2019s Pre-Tax Return on Assets (ROA) ratio also remained one of the industry\u2019s highest, standing at 7%, which is 1% above the industry average of about 6%.<\/p>\n
This performance leaves the Bank in a strong position to pursue attractive business opportunities in 2015 and beyond.<\/p>\n
Commenting on the Banks 2014 performance, the Managing Director, Mr. Dolapo Ogundimu noted \u201cour ability to effectively identify, assess, monitor and manage the various operational risks has been critical to our sound financial standing and profitability. That our ratios continue to be one of the strongest in the Ghanaian banking industry, is a testament of our understanding of the operating environment and our commitment to best practices\u201d.<\/p>\n
On the Banks strategy for 2015 and beyond, Mr Ogundimu stated \u201cwe are making significant strides in gaining market share and becoming a key player as the Bank deploys various services for targeted segments including retail markets for women, children, the youth, workers and pensioners\u201d.<\/p>\n
Other highlights of the Bank\u2019s financial performance in 2014 include:<\/p>\n
\u2022 Total Assets: GHS 1.72 billion (+73%)
\n\u2022 Customer deposits: GHS 1.2 billion (+ 65%)
\n\u2022 Liquidity ratio: 60%<\/p>\n
In a related development, Access Bank has commissioned an ultra modern Data Recovery site to improve its business continuity programme towards sustainable banking.<\/p>\n
The investments made by the Bank reinforces its commitment to offering quality banking services, protecting and securing customer information and ensuring that the Banks operations are not interrupted in case of any eventuality.<\/p>\n
Officials say that the Data Recovery site will give impetus to the Bank\u2019s robust technology infrastructure and facilitate the attainment of certification based on international best practices.<\/p>\n
–
\nSource: Access Bank<\/p>\n","protected":false},"excerpt":{"rendered":"
Access Bank Ghana, recently adjudged Bank of the Year, has recorded another year of strong and impressive performance across key financial indicators in its 2014 performance. [contextly_sidebar id=”o67JypXjhiiqEkSGBUeaxctuQWrdgAxV”]The Bank\u2019s growth trajectory over the past 6 years has been consistent and continues to reflect its commitment to delivering banking services that are sustainable and relevant to […]<\/p>\n","protected":false},"author":14,"featured_media":3448,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-104030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/104030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=104030"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/104030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/3448"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=104030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=104030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=104030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}