Access Bank Ghana held its 16th Annual General Meeting (AGM) at its head office, declaring it as a year of exceptional performance and assets growth.
The Board Chairperson of Access Bank (Ghana) Plc, Ms. Ama S. Bawuah, presented the financial statements, stressing on the bank’s impressive performance despite the challenging macroeconomic environment.
L-R: Olumide Olatunji, Managing Director, Access Bank Ghana; Ama S. Bawuah, Board Chair, Access Bank Ghana, and Helen Decardi Nelson, Company Secretary, Access Bank Ghana, at the 16th Annual General Meeting of Access Bank Ghana held at its head office in Accra on Friday
Access Bank Ghana’s total assets grew to 22.3 per cent, from GHS 10.057 billion to GHS 12.30 billion, while operating income increased by 40 per cent from GHS1.150 billion to GHS 1.613 billion. The bank’s Loans and Advances rose by 42.81 per cent.
Bawuah said, “In 2023, Ghana’s economy was characterised by macroeconomic instability, escalating inflation, and dwindling investor confidence stemming from both domestic imbalances and external pressures.
“Against the backdrop of global and national economic uncertainties, I am pleased to share that your bank successfully applied valuable insights and industry best practices to achieve substantial growth across key areas in the past year.
“These achievements underscore our steadfast dedication to navigating challenges and fostering sustainable growth, reaffirming our pledge to serve you with excellence and integrity.”
Access Bank’s commitment to expansion, innovation, and customer convenience was also highlighted, with the implementation of several digital products and services such as the virtual relationship management (VRM) tool to augment customer service support.
The Bank also established priority desks which include the Chinese, German, Lebanese, French, and Turkish desks to cater to a specific demographic and facilitate the smooth running of business in those areas
Olumide Olatunji, Managing Director, Access Bank Ghana Plc, reaffirmed the Bank’s resilience and stability, adding “Despite the prevailing uncertainties, Access Bank maintained a robust performance across key financial metrics, a testament to our prudent financial management and unwavering dedication to our mission. We observed substantial growth in deposits, surging from GHS7.399 billion to GHS9.130 billion, marking a notable 23 per cent increase.”
Olatunji stated further that the Bank achieved a remarkable turnaround by resuming tax remittances to the government, adding that this reversal from a negative contribution of GHS102 million to an impressive 509 per cent increase to GHS419 million underscores our commitment to fiscal responsibility and sustained growth.
Concurrently, Olatunji, said shareholders’ funds experienced substantial growth, from GHS1.014 billion to GHS1.403 billion, attributed to the transformative strategies implemented in the Bank’s business management practice.
Olatunji expressed gratitude to shareholders for their support and emphasised the Bank’s commitment to excellence and customer satisfaction.
“We are proud of our achievements and recognise the trust our customers and shareholders have placed in us. We will continue to innovate, expand our reach, and support Ghana’s economic growth,” he said.
Sampson Ashong, the General Secretary of the shareholders applauded the bank’s performance and initiatives citing its resilience and growth potential.
Ashong said, “I am thoroughly impressed with the bank’s commitment to sustainability initiatives and employee capacity building. The dedication to creating a positive impact on the environment and society, while investing in the growth and development of their staff is truly commendable.
“This is evidence that Access Bank is not just focused on financial returns, but also on making a positive difference in the world.”
Shareholders approved all resolutions on the agenda, which included among other things, as well as saw the re-election of the members of the Board of Directors and one retirement.
The event marked the celebration of the bank’s dedication to its stakeholders and its contribution to Ghana’s financial landscape, because as Access Bank Ghana continues to grow and expand its operations, it remains committed to promoting financial inclusion and supporting the country’s economic development.
Since 2009, Access Bank Ghana has demonstrated a strong commitment to sustainable business practices driving profitable, sustainable growth that is environmentally responsible and socially relevant. These have contributed to the bank being recognised with various awards in 2023, which include the 2023 Best Bank by Euromoney Awards, Best Retail Bank by Global Brands Awards, Best Digital Bank in Ghana by Digital Banker Africa Awards; and Best SME Banking and Best Bank for CSR by Euromoney Awards
