ACCESS Bank posts 261% profit growth

BY: Enoch Darfah Frimpong

The Managing Director of Access Bank (Ghana), Mr Dolapo Ogundimu, noted that “Access Bank’s impressive performance in 2012 affirms its renewed strategy of building a sustainable banking franchise in Ghana.”

He mentioned the overwhelming support and loyalty of its stakeholders including shareholders, employees, and customers during the past year, which formed the basis for the transformational achievement.

“With our current level of deposits and strong equity base, our bank is positioned to do even bigger ticket transactions to support the Ghanaian economy in key sectors including telecoms, energy, and manufacturing,” he said.

Total assets of the bank also increased by 130 per cent to GH¢797.30 million, customer deposits went up by 230 per cent to GH¢545.35 million, and the bank increased its shareholder’s fund by 73 per cent to GH170.1 million.

A statement from the bank said the continuous focus on strong risk management structures, transparency and global standards made it resilient and productive during the period under review.

The performance leaves the bank in a strong position to pursue attractive business opportunities in 2013 and beyond.

Its outstanding ratios continue to be one of the strongest in the Ghanaian banking industry, attesting to the bank’s excellent understanding of the operating environment and its commitment to global best practices that inspire sustainable growth,” the statement pointed out.