Banks To Have Common Use Of ATMs

Banks that use Automatic Teller Machine (ATM) services are discussing how best to ensure that their customers are not restricted to a particular ATM.

This means that when the discussions are concluded the banks could have reciprocal use of each other's ATMs.

Mr Kojo Okai Andah, acting Chairman of The Trust Bank's board of directors who disclosed this in a statement on the performance of the bank for the year 2002, said the move will provide greater convenience for customers who are at the heart of the banking business.

The TTB registered a net profit of ?12.5 billion for its operations for the year under review. The performance shows six per cent growth over the previous year's performance of ? 11.8 billion.

It is to pay total dividend of ?5.65 billion to its shareholders.

Mr Andah said the bank's balance sheet expanded by 47.8 per cent with deposits growing by 38.9 per cent over the previous year's performance.

The bank's retail strategy began bearing fruits while shareholders funds also improved by 23.2 per cent. He said the bank is to reposition itself in the marketplace and offer improved services to its customers.

As part of its strategy to ensure the realisation of that objective the bank is sourcing (SMEs) facilities from European partners to support its targeted niche in the small-medium enterprises (SMEs) sector that has enormous potential. The credit line will supplement the ?21 billion in support of SMEs that it signed with the Swiss State Secretariat for Economic Co-operation (SECO) Exchange."

The bank has completed the first phase of its branch expansion with the opening of the fourth agency at Suame Magazine in Kumasi, bringing the number in the country to 10.

He indicated that in view of the encouraging results shown by the newly inaugurated agencies, the bank will continue with identification and selection of strategic locations for further branch and agency expansion.

On the bank's social responsibility, Mr Andah said the bank contributed to many charitable causes through sponsorships and donations. A total of ?33 million went to education, health, culture , sports and social sectors.