Access Bank Ghana Reports Significant Growth in Income and Assets

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From left to right: 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 held at its head office in Accra. 

 

Access Bank Ghana Plc recently held its 16th Annual General Meeting (AGM) at its head office, celebrating a year marked by remarkable financial performance and growth. During the meeting, the Board Chairperson, Ms. Ama S. Bawuah, presented the financial statements, showcasing the Bank’s impressive achievements in a challenging macroeconomic environment.

Access Bank Ghana saw its total assets increase by 22.3%, rising from GHS 10.057 billion to GHS 12.30 billion. Operating income surged by 40%, from GHS 1.150 billion to GHS 1.613 billion, while loans and advances grew by 42.81%. Ms. Bawuah commented, “In 2023, despite macroeconomic instability, high inflation, and reduced investor confidence, we leveraged industry best practices to achieve substantial growth.”

She added, “These accomplishments highlight our commitment to overcoming challenges and fostering sustainable growth, reinforcing our dedication to excellence and integrity.”

The Bank’s expansion and innovation efforts were evident with the launch of several digital products and services, including a virtual relationship management tool to enhance customer service. Additionally, priority desks were established to support specific demographics, including Chinese, German, Lebanese, French, and Turkish communities.

Managing Director Olumide Olatunji underscored the Bank’s resilience, noting a significant increase in deposits from GHS 7.399 billion to GHS 9.130 billion, a 23% rise. He also highlighted the Bank’s fiscal responsibility, with tax remittances to the government jumping from a negative contribution of GHS 102 million to a positive GHS 419 million, a 509% increase. Shareholders’ funds grew from GHS 1.014 billion to GHS 1.403 billion, reflecting the Bank’s strategic business management.

Mr. Sampson Ashong, General Secretary of the shareholders, praised the Bank’s sustainability initiatives and employee development efforts. He stated, “Access Bank’s commitment to environmental and social responsibility, along with investing in staff growth, demonstrates a focus beyond financial returns.”

The AGM concluded with shareholders approving all resolutions, including the re-election of Board members and one retirement. The event underscored Access Bank Ghana’s commitment to its stakeholders and its significant role in Ghana’s financial landscape. The Bank remains dedicated to promoting financial inclusion and supporting the country’s economic development.

Since 2009, Access Bank Ghana has been committed to sustainable business practices, achieving profitable and socially responsible growth. The Bank’s achievements in 2023 earned it several awards, including 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.

 

About Access Bank PLC
Access Bank, a wholly owned subsidiary of Access Holdings Plc, operates over 700 branches across three continents and 22 countries, serving more than 60 million customers. The Bank employs over 28,000 people in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE. Listed on the Nigerian Stock Exchange since 1998, Access Bank is known for its strong retail franchise, digital platforms, and expertise in corporate banking and risk management. The Bank continues to integrate sustainable practices into its operations, aiming for profitable, environmentally responsible, and socially relevant growth.


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