Access Bank Ghana Records Total Assets Of GHS12.30bn

Access Bank Ghana Plc has declared total assets of GHS 12.30 billion for the financial year ended December 31, 2023.

The Bank made this known at its 16th Annual General Meeting (AGM), marking a year of exceptional performance and growth. The Board chairperson of Access Bank (Ghana), Ama Bawuah, presented the financial statements, highlighting the Bank’s impressive performance despite the challenging macroeconomic environment.

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.

Speaking, 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.”

She added that “these achievements underscore our steadfast dedication to navigating challenges and fostering sustainable growth, reaffirming our pledge to serve you with excellence and integrity.”

Also, the managing director, Access Bank Ghana, Olumide Olatunji reiterated the Bank’s resilience and stability, saying that “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.”

He added that “the Bank achieved a remarkable turnaround by resuming tax remittances to the government. 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, 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 thanked shareholders for their support and emphasised the Bank’s commitment to excellence and customer satisfaction, saying that “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.”

Meanwhile, the general secretary of the shareholders, Mr. Sampson Ashong praised the Bank’s performance and initiatives citing its resilience and growth potential.

“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,” he said.