Revenue - GH¢ 156,751,000

Profit - GH¢ 10,655,000

Total assets - GH¢ 1,453,435,000

Ghana Stock Exchange - Not listed

Total equity - GH¢ 205,150,000

Sector - Banking

Managing Director - Stephen Sekyere-Abankwa

The Bank mobilized 207.9 million in deposits to increase its deposit base from 885.5 million to 1,093.5 million, an increase of 23.4%, compared to 28% increase in the previous year. Current and savings account deposits together accounted for 55% of total deposits whiles time deposits accounted for 45%. A significant proportion of the deposits were mobilized from private entities and individuals.
Shareholders’ funds increased by 27% from 113.2 million at the end of 2014 to 144 million at the end of 2015 as compared with 18% growth rate in 2014. This growth was due to the revaluation of properties and earnings retained during the year total assets of the Bank grew by 25% from 1.12 billion as at 31st December 2014 to 1.39 billion as at 31st December 2015, the growth was funded by deposits, borrowing and shareholders’ funds.

The Bank’s investments in government securities stood at 154.7 million as at the end of 2015.
The Bank grew its loans and advances portfolio by 12%. This increased from 760.5 million at the end of 2014 to 849.6 million at the end of 2015.

The Bank had to make bad debt provisions of 30.5 million in 2015, against the previous year of 15.5 million. As a result, the Bank’s pre-tax profit for the year 2015 decreased by 53% to 14.1 million from 30.2 million achieved in 2014. The profit after tax for the year was 9.8 million, which translates into a return on assets of 0.78% and return on equity of 7.62%

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