At the end of the 2014 financial year, the Bank of Africa-Ghana posted a net profit after tax of GH¢28 million, from a loss of GH¢2.9 million in 2013.
The bank’s total assets also expanded appreciably from GH¢633 million to GH¢922 million over the year, while shareholders expressed their delight with the financial results.
The Managing Director of the Bank of Africa-Ghana, Mr Kobby Andah, disclosed this in Accra and attributed the results to prudent risk and financial management, with enhanced efficiencies in sales and customer service.
A statement from the bank that was issued by its Head of Marketing and Corporate Communications, Madam Sharon Bansa, to the Daily Graphic in Accra said upon its entry into the Ghanaian industry in 2011, the bank spent the initial years overhauling its systems, policies and procedures.
The statement said Bank of Africa-Ghana also introduced carefully thought-through and tailored banking products with a view to positioning itself as the preferred bank to its chosen markets in Ghana.
As part of its 2015 strategy, the bank will expand its branch network size by opening more branches, the statement added.
For his part, the Bank of Africa’s Group Executive Director in charge of Anglophone countries, Mr Abdelkabir Bennani, said the group’s consolidated net profit increased by an appreciable 56.8 per cent to €90 million.
He reiterated the group’s keen interest in supporting the economies of the countries it operated in and added that Bank of Africa Ghana and its customers could always count on this.
The Chairman of the bank’s Board of Directors, Mr Stephen Ata, who chaired the meeting, thanked the shareholders, its customers, board and staff for their unwavering support.
He assured customers of more dedicated quality service and banking products in 2015 to ensure a truly delightful banking experience going forward.
Bank of Africa has been in operation in Ghana since 2011 and the Bank of Africa Group has presence in 14 other African countries, namely Benin, Burkina Faso, Burundi, Democratic Republic of Congo, Djibouti, Cote d’Iviore, Kenya, Madagascar, Mali, Niger, Senegal, Tanzania, Togo and Uganda.