Access Bank Ghana Plc recorded a strong growth trajectory across key
indicators in the financial year ended 2021. Profit before tax grew from GHS
355 million in 2020 to GHS 501 million in 2021, recording a 41% growth while
total operating income grew from GHS 567 million in 2020 to GHS 728 million in
2021, recording a 28% increase.
These were revealed at the annual “Facts Behind The Figures” session, held virtually in collaboration with the Ghana
Stock Exchange. The platform offers an opportunity for listed companies to
present their performance to key stakeholders including investors and
shareholders while receiving feedback from these stakeholders.
Speaking at the event, Managing Director of Access
Bank Ghana Plc, Olumide Olatunji was excited about the confidence reposed in
the Bank by its customers, evidenced by the Bank’s significant growth recorded
across key performance metrics and commended the efforts made by all
stakeholders to achieving the feat.
“The 28% growth in Gross earnings is mainly
due to increase in interest income from increased yields on the back of reduced
cost of funds from 5.87% in 2020 to 4.76% in 2021. He said due to efficient
treasury activities, the Bank recorded a 101% increase in net trading income,
from GHS 151 million to GHS 305 million as well as a 26% year-on-year increase
in fee and commission income from GHS 69 million to GHS 87 million.
Olumide noted that the Bank had a deliberate and
disciplined outlook for 2022, with a targeted focus on strategic expansion and
growth. The Bank is focused on optimizing operational efficiency to ensure it
is well-positioned to withstand any shocks in an increasingly volatile
operating environment as the world continues to learn to live with Covid-19 and
rising inflationary pressures. The Bank will continue to invest in tailored
products to meet the needs of customers by offering best-in-class user
experience in retail and consumer banking services. All these are aimed at
enhancing customer satisfaction and returning value to customers”, he added.
Olumide also hinted among other things that Access
Bank is committed to becoming a bank of choice in Ghana, as part of its retail
banking growth & wholesale banking consolidation aspiration. He touched on
the Bank’s commitment to international trade and payments; “Under our universal
gateway strategy, we are optimizing payments, remittances, transfers, trade,
cross-border, and electronic banking to serve our customers to achieve our
strategic vision of being the preferred bank in international trade
transactions within the African continent and beyond”; he said.
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He assured stakeholders that the Bank is safe,
strategy is strong with a committed team to deliver value to customers and
shareholders.
Executive Director for Retail and Digital Banking
Pearl Nkrumah assured customers of the Bank’s steadfastness in pursuing
digital-led solutions by enabling clients to transact online. “E-levy is not
going to halt our plans as a Bank.
We have digital products and technology that are
user-friendly and provide solutions for customers. We have commenced our Agency
banking offering, packaged as AccessCLOSA which brings banking even closer to
customers by using agents in our neighborhood” Pearl noted.
Sharing her remarks at the event, the Deputy
Managing Director of the Ghana Stock Exchange, Abena Amoah, revealed that
Access Bank posted the highest dividend yield with 34.62% and the lowest price
to earnings. She commended Access Bank for listing on the Ghana Stock Exchange.
The Bank’s performance was recognized in various
awards in 2021 including the Most Innovative Retail Banking Brand and Best CSR
Bank by the Global Brands Awards, The Best Bank in Customer Service and Best
Retail Bank by the World Economic Magazine among others.
Source:Peacefmonline