At half year 2020, FBNBank Ghana posted an impressive growth across all major performance indices over the corresponding prior period in 2019.
The profitability of the bank witnessed an industry leading growth of 77% reflecting the capacity and ability of the leadership in effectively translating revenue to profit notwithstanding the challenging economic impact of the COVID-19 pandemic.
Similarly, there is improved customer patronage of the brand during the year.
This is reflected in the significant growth of 58% in both customer deposit and total assets of the bank.
By strengthening the risk management framework of the Institution, the bank was able to curtail incidences of impairments on its risk asset as the impairment charged was reduced significantly by 36% over the prior period in 2019.
Reflecting on this performance, Managing Director of FBNBank Ghana, Victor Yaw Asante attributed this to the pursuit of the bank’s vision to be a clear leader and Ghana’s bank of first choice, a quest which influenced the deployment of the bank’s resources towards the larger interest of our customers and other stakeholders
The bank’s Chief Financial Officer, Semiu Lamidi stated that the spectacular half year performance was a reflection of the huge investment the bank had made in the provision of information technology infrastructure, the improved workforce environment and disciplined execution of cost efficiency strategies.
FBNBank Ghana has been on a quest to endear the brand to its stakeholders in the Ghanaian market and using all available means to make the brand a mark of excellence.
FBNBank Ghana Limited (FBNBank) is member of the First Bank of Nigeria Limited Group.
FBNBank, a subsidiary of First Bank of Nigeria Limited has 21 footprints in Ghana with over 400 staff and offers universal banking services to individuals and businesses.
FBNBank was formerly International Commercial Bank (ICB) and has been in the business of banking for 24 years in this country.
FBNBank is part of the trade hub that has grown economies for 126 years across Africa, Europe and China.
Source: BusinessZone Online