Guaranty Trust Bank (Ghana) Ltd has released its annual report for the year 2012 showing significant achievements which officials say will entrench the bank�s position as a formidable player in the highly competitive market.
The bank, which has been adjudged Bank of the Year on two occasions, posted a pre-tax profit of GH�50 million at the end of December 2012 from the GH�20 million it recorded in the previous year. This represents 140 per cent rise.
Profit after tax also performed well increasing from GH�13 million in 2011 to GH�39 million in the year under review, about 67 per cent rise over the previous figure. It also recorded gross earnings of GH�127 million in 2012 compared to the GH�76 million it recorded in 2011, while its total assets rose by 54 per cent from GH�444 million in 2011 to GH�683 million in 2012.
The bank�s mobilised total deposits stood at GH�476 million for year end 2012 as against GH�266 million in 2011.
Commenting on the bank�s performance, the Managing Director of the bank, Mr Lekan Sanusi, said the good performance in the year under review was based on three key factors, the first being �our customers who continued to show growing confidence in our franchise.�
According to him �This factor resulted in more deepened relationships and increased rate of customer sign ons in 2012; significantly important is the fact that some of our new customers came through referrals from existing customers�.
The second, Mr Sanusi said, was because of the bank�s �untiring determination of our highly motivated, loyal, well trained and aggressive staff to do well amidst competitive challenges.� He also acknowledged the role played by the bank�s shareholders and board as the third contributory factor to the growth in the bank�s strong performance in 2012.
Mr Sanusi disclosed that the bank had come up with a five-year strategic plan which the staff had bought into and challenged themselves to work to make it a success, adding that it was as a result of that commitment that the bank was making significant headway in the industry.
For the years ahead, the managing director said �GTBank will continue to bring its services even closer to customers.�
He said additional branches and agencies had already been started to continuously improve on service delivery levels and that to satisfy customers, a number of initiatives had also been deployed.
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