Banking sector clean up boost confidence - MD of Access Bank Ghana

The Managing Director of Access Bank Ghana, Olumide Olatunji says the cleaning up of the banking sector has significantly increased the confidence in the sector.

Speaking at the Facts Behind the Figures forum in Accra, Mr Olatunji noted that though the exercise had an effect on other sections of the country’s economy, it has brought sanity in the sector.

He said the bank will collaborate with the government and international partners to improve medium and small scale businesses.

Mr. Olatunji indicated that as the bank seeks to be digitally led, it will build five more branches this year while enhancing its digitisation drive.

The Access bank group hopes to expand into Kenya, Mozambique and other African countries to provide customers with banking channels that are attractive, accessible and flexible through an enhanced process and operations, to enhance efficiency in businesses.

The Bank’s Profit After Tax rose 68 per cent to about ¢50,000.00 in 2018 from ¢29,000.00 in 2017. Total Assets went up 11 per cent from ¢3.2 million to ¢3.5 million. Loans and Advances however dipped seven per cent from ¢877,000.00 in 2017 to ¢815,000.00 in 2018, attributable to the bank’s quest to meet the new capital requirement in that year.