The Chairman of the Board of Directors,
He said the effects of the external environment and the DDEP embarked on by the government last year caused the bank an impairment charge of GH¢1.16 billion, resulting in an after-tax loss of GH¢297.78 million for the period.
"Operating expense grew by 20 per cent on the back of high inflationary environment, and 2022 ended with a capital adequacy ratio of 23 per cent, well above the regulatory threshold of 10 per cent, with the bank maintaining a strong balance sheet and liquidity position,"
He said, "We have a valuable franchise, with strength and quality at its core, great client relationships, and the right team of people." He noted that despite the headwinds in 2022, the bank was seeing strong signs of a rebound as evidenced in its strong 1st half of 2023 performance. "We have a robust business model and a clear strategy. We will continue to focus on opportunities that exist within our redefined risk appetite while taking advantage of technology to open new opportunities," he added.
To serve the clients of the bank better,
The Chief Executive of
She said, "We remain a resilient bank with a strong underlying business. We are making good progress on our strategic pillars and areas of focus which will drive future growth." She also reiterated the banks' commitment to
Being
Through various initiatives, the bank continues to invest in the productive sectors of the economy in line with its brand promise, "Here for good". In the year under review, the bank provided educational grants to support 31 brilliant but needy students across the 5 public tertiary institutions to the tune of GH¢285,000 for a three-year period.
Copyright Ghanaian Times. Distributed by AllAfrica Global Media (allAfrica.com)., source