Ecobank Ghana has declared a dividend of 0.43 Ghana peswas per share to its shareholders at the bank’s annual general meeting (AGM) in Accra.
This was after the local unit of the pan-African bank had posted a 40 per cent revenue growth of GH¢589.7 million and a 44 per cent profit before tax of GH¢267.8 million.
The Board Chairman of Ecobank Ghana, Mr Lionel Van Lare Dosoo, said the 0.43Gp dividend pay represented an increase of 48 per cent from the 0.29Gp declared in 2012.
“Ecobank Ghana’s share price increased by 111 per cent over the last 12 months, from the GH¢3.75 as of March 2013 to GH¢7.92 as of February 2014”.
Mr Dosoo attributed the bank’s performance to the prudent management of interest expense which remained flat in 2013. Non-interest income also saw a year-on-year growth of 31 per cent.
Impairments on loans stood at GH¢55 million while the bank recorded a non-performing ratio of 5.9 per cent, which compares favourably with the industry average of 12.3 per cent.
According to the board chairman, the bank controlled its expenses despite rising inflation and the continued investment in its business with a cost-to-income ratio of 45.3 per cent down from the 2012 figure of 50 per cent.
“Our returns on equity and assets at the moment stands at 37 per cent and 4.7 per cent respectively”, he said.
Balance sheet
We continue to focus on improving the strength of our balance sheet, with customer loans growing by 52 per cent to GH¢2.1 billion.
The bank recorded total customer deposits of GH¢3.2 billion, representing a growth of 32 per cent from GH҃¢2.4 billion in 2012. This is mainly on the back of the growth in retail and corporate deposits.
Launches Ecobank Direct
Ecobank Ghana has also opened the first digital and financial services advisory centre in Accra.
The centre, dubbed, ‘Ecobank Direct’ is to enable the bank’s tech-savvy customers to benefit from the convenience of real-time digital transactions.
The key features of the digital centre include private and enclosed video conferencing suits to access expert advice in real time from staff located at other branches and across networks.
The centre, which is located at Labone in Accra, is also fixed with touchscreen tablets for accessing Ecobank’s internet banking and an interactive flat-screen television to display product information and allow service request including account opening.
The digital centre is also fixed with advanced 24-hour ATMs allowing customers to withdraw money, deposit cash and cheques, make balance enquiries, undertake transfer payments and print out A4 statements.
Managing Director of Ecobank Ghana, Mr Sam Ashitey Adjei, said the launch of Ecobank’s digital branch was set to change the landscape of banking. “It offers customers a unique experience which provides both control of the banking and financial freedom”.