Key Figures

Our Bank recorded a profit after tax of GHS 24.6 million in 2018, through prudent and efficient use of the balance sheet. Net interest income for the year 2018 increased by 31%, from GHS 72.8 million in 2017 to GHS 95.2 million. We achieved this, through our strategic decision to focus on retail and SME loans. Our Fees and Commissions dipped slightly from GHS 19.2 million in 2017 to GHS 18.1 million in 2018 representing a 5% change. Risk elevation within the major sectors of offbalance sheet activities made us tread cautiously in LC and Guarantee books. We showed a strong performance on our foreign exchange income in addition to other trading income, increasing from GHS 26.9million in 2017 to GHS 29.3 million in 2018 Our Total Operating Cost increased from GHS 80.1 million in 2017 to GHS 93.1 million in 2018, representing a growth of 16%. The cost of digitization of the bank’s processes, products and services as well as adverse economic variables impacted on our operating cost.