HFC bank\u2019s 2016 figures show that the bank\u2019s total deposit grew by 31%.<\/p>\n
[contextly_sidebar id=”z2PveE5QrAnoRdBLZaEbOmGXlBefU9yc”]The figure increased from 1.18 billion cedis in 2015 to 1.55 billion cedis in 2016.<\/p>\n
This also outperformed the industry\u2019s average of 25%.<\/p>\n
The bank\u2019s assets also increased to 1.89 billion cedis within the twelve months period.<\/p>\n
However, provisioning for Non Performing loans left the bank with a loss of 47.73 million cedis.<\/p>\n
Managing Director of HFC bank, Robert Le Hunte explains to Citi Business News<\/strong> he is hopeful of an improved performance this year.<\/p>\n \u201cAs I stated we are building a bank, we are restructuring and we are retooling a bank so I might not be happy with the financial results, which is one aspect of the bank but there are a lot of activities in the rebilling and the retooling exercise on which I am extremely excited with.\u201d<\/p>\n The bank stated that the loss position was driven by one-off expenses, changes in Mortgage NPL policy and Bulk Oil Distributors (BDCs) portfolio.<\/p>\n HFC not bothered by high NPL<\/strong><\/p>\n Le Hunte further stated that the bank is expecting a stable Non Performing loans records in the subsequent months.<\/p>\n NPL\u2019s went up to 175 million Ghana cedis for the first two months of the year according to the Bank of Ghana.<\/p>\n Although he believes the dynamic nature of the economy affects the NPL\u2019s he stated that he is hopeful it will not see any hikes soon.<\/p>\n \u201cWe are reporting NPL\u2019s in our books about 21% and it has been around that level. We have accessed our portfolio and we feel that we have most of our NPL\u2019s covered. You know banking is a dynamic thing and it depends a lot on the performance of the economy. So as much as we have a crystal ball, we have looked at our portfolio and I don\u2019t think there should be any big spikes to our non performing loans portfolio.\u201d<\/p>\n –<\/p>\n By: Jessica Ayorkor Aryee\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" HFC bank\u2019s 2016 figures show that the bank\u2019s total deposit grew by 31%. [contextly_sidebar id=”z2PveE5QrAnoRdBLZaEbOmGXlBefU9yc”]The figure increased from 1.18 billion cedis in 2015 to 1.55 billion cedis in 2016. This also outperformed the industry\u2019s average of 25%. The bank\u2019s assets also increased to 1.89 billion cedis within the twelve months period. However, provisioning for Non […]<\/p>\n","protected":false},"author":14,"featured_media":0,"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":[121,32,171,11],"tags":[],"class_list":["post-314873","post","type-post","status-publish","format-standard","hentry","category-banking-and-finance","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/314873","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=314873"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/314873\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=314873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=314873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=314873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}