Access Bank Ghana has recorded a strong financial performance for 2014, as the bank’s profit before tax (PBT) soars by 72 per cent from GH¢71.8 million in 2013 to GH¢123 million in 2014.
Gross earnings also increased by 66 per cent from GH¢187.1 million to GH¢311.4 million, underscoring the bank’s increased earning capacity.
The bank said the growth pattern over the past six years had been consistent and continued to reflect the bank’s commitment to delivering banking services that were sustainable and relevant to the local market.
The financial statement was audited by PricewaterhouseCoopers (PwC) and approved by the Bank of Ghana.
“This performance leaves the bank in a strong position to pursue attractive business opportunities in 2015 and beyond,” the Managing Director, Dolapo Ogundimu said, noting that “Our ability to effectively identify, assess, monitor and manage the various risks involved in our operations has been critical to our sound financial standing and profitability.”
He added that the bank’s performance ratios continued to be one of the strongest in the Ghanaian banking industry, a testament of their understanding of the operating environment and commitment to best practices.
Access Bank Ghana increased total assets by 73 per cent to GH¢1.72 billion, customer deposits by 65 per cent to GH¢1.2 billion, while achieving an impressive 60 per cent liquidity ratio.
On the bank’s strategy for 2015 and beyond, Ogundimu stated “we are making significant strides in gaining market share and becoming a key player as the bank deploys various services for targeted segments, including retail markets for women, children, the youth and pensioners”.
In a related development, Access Bank has commissioned an Ultramodern Data Recovery site to improve its business continuity programme towards sustainable banking.
The investment is to protect and secure customer information and ensure that the bank’s operations are not interrupted in the case of any eventuality, such as fire or water destructions.
According to the bank, the data recovery has strengthened its robust technology infrastructure and “will facilitate our attainment of certification that is based on international best practice.”
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