Standard Chartered Bank (SCB) has paid a record high dividend of GH¢2.99 per share representing 65% to its shareholders at its Annual General Meeting (AGM) held last week. Last year it paid GH¢1.89 as dividend.
The banks operating income rose by 56% to GH¢182.5 million in 2009 while profit before tax was up by 91% to GH¢83.7 million. It assets grew from GH¢984,944 in 2008 to GH¢1.4 million in 2009.
Hemen Shah, Chief Executive Officer of the Bank said the performance was delivered in the face of increasing competition within the industry and without compromising on standards of service, risk management and the disciplined approach in the way we do business.
"Our 2009 results confirm that we have effectively managed the inherent risks in the industry over the year and have consistently been able to strengthen our foundation for efficient and sustainable growth within our strategic segments in the market," he said.
"Our focus on and dedication to the basics of banking, that is liquidity, capital, credit risk, operational risk and cost have enabled us to grow our business whilst other international banks have struggled," Shah stated.
He said as the effects of the global economic crisis became more tangible the Bank would continue to operate in a manner that ensured sustainability.
In line with this commitment, Shah said the bank would maintain its leadership position in promoting superior risk management within the market.
According to the Board Chairman, Ishmael Yamson, “The bank has used its strong capital and liquidity position and its increasingly powerful brand to capture market share from competitors and to deepen relationships with customers and clients.”
The banks operating income rose by 56% to GH¢182.5 million in 2009 while profit before tax was up by 91% to GH¢83.7 million. It assets grew from GH¢984,944 in 2008 to GH¢1.4 million in 2009.
Hemen Shah, Chief Executive Officer of the Bank said the performance was delivered in the face of increasing competition within the industry and without compromising on standards of service, risk management and the disciplined approach in the way we do business.
"Our 2009 results confirm that we have effectively managed the inherent risks in the industry over the year and have consistently been able to strengthen our foundation for efficient and sustainable growth within our strategic segments in the market," he said.
"Our focus on and dedication to the basics of banking, that is liquidity, capital, credit risk, operational risk and cost have enabled us to grow our business whilst other international banks have struggled," Shah stated.
He said as the effects of the global economic crisis became more tangible the Bank would continue to operate in a manner that ensured sustainability.
In line with this commitment, Shah said the bank would maintain its leadership position in promoting superior risk management within the market.
According to the Board Chairman, Ishmael Yamson, “The bank has used its strong capital and liquidity position and its increasingly powerful brand to capture market share from competitors and to deepen relationships with customers and clients.”
Comments