{"id":365110,"date":"2011-04-04T06:21:18","date_gmt":"2011-04-04T06:21:18","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/04\/access-bank-targets-oil-and-gas-industry\/"},"modified":"2011-04-04T06:21:18","modified_gmt":"2011-04-04T06:21:18","slug":"access-bank-targets-oil-and-gas-industry","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/04\/access-bank-targets-oil-and-gas-industry\/","title":{"rendered":"Access Bank targets oil and gas industry"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb Oil & Gas<\/a> \u00bb Access Bank targets oil and gas industry<\/p>\n

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\t\t\t \tPage last updated at Monday, April 4, 2011 6:06 AM \/\/ <\/span>\n\t\t\t <\/div>\n

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\"\"<\/a>Access Bank (Ghana) will this year focus on financing the oil and gas industry as the sector represented a major growth pole in the economy.<\/p>\n

\u201cThe focus of the bank for 2011 is more on oil and gas because about 15 per cent of GDP is driven by that sector and therefore an opportunity for us to be a major player,\u201d Mr\u00a0 Yomi\u00a0 Akapo, the Country Managing Director said in Accra.<\/p>\n

In addition, the bank will also leverage its strength in corporate banking by targeting multinational companies and well structured Ghanaian companies, he said during a press briefing on the 2010 performance of the financial entity.<\/p>\n

The bank posted gross earnings of GH\u00a2 28 million with profit after tax of GH\u00a2 8.5 million.<\/p>\n

The bank\u2019s total assets grew by 109 per cent to GH\u00a2 198.0 million while its customer deposits grew by an impressive figure of 1,216 per cent to GH\u00a2 91.8 with loans and advances amounting to GH\u00a2 18.0 million.<\/p>\n

\u201cIt is with great pleasure that Access Bank reports phenomenal growth in its profitability and performance ratio in its 2nd year of operations. After posting profit in its first year of operation (six months) in 2009, our bank has maintained its strategy of balance sheet expansion and healthy lending culture,\u201d Mr Akapo said.<\/p>\n

He said the bank continued to deploy its value chain strategy and one-bank customer proposition to expand its market share of high quality assets and low cost deposits.<\/p>\n

This, he said, had paid off considerably, contributing significantly to shaping the banks business in Ghana and supporting the overall group strategy of ranking among the top three financial services group in Africa.<\/p>\n

The bank, which is one of the most capitalised banks in the country, starting with an initial capital well over regulation requirement is aiming at increasing its capital to GH\u00a2100 million.<\/p>\n

This according to the country Managing Director is designed to position the bank to actively partake in Ghana\u2019s oil industry.<\/p>\n

Source: GNA<\/p>\n

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\nAccess Bank targets oil and gas industry<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

You Are Here: Home \u00bb Oil & Gas \u00bb Access Bank targets oil and gas industry Page last updated at Monday, April 4, 2011 6:06 AM \/\/ Access Bank (Ghana) will this year focus on financing the oil and gas industry as the sector represented a major growth pole in the economy. \u201cThe focus of the bank for 2011 is more on oil and gas because about 15 per cent of GDP is driven by that sector and therefore an opportunity for us to be a major player,\u201d Mr\u00a0 Yomi\u00a0 Akapo, the Country Managing Director said in Accra. In addition, the bank will also leverage its strength in corporate banking by targeting multinational companies and well structured Ghanaian companies, he said during a press briefing on the 2010 performance of the financial entity<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-365110","post","type-post","status-publish","format-standard"],"yoast_head":"\nAccess Bank targets oil and gas industry - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/04\/access-bank-targets-oil-and-gas-industry\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Access Bank targets oil and gas industry - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"You Are Here: Home \u00bb Oil & Gas \u00bb Access Bank targets oil and gas industry Page last updated at Monday, April 4, 2011 6:06 AM \/\/ Access Bank (Ghana) will this year focus on financing the oil and gas industry as the sector represented a major growth pole in the economy. \u201cThe focus of the bank for 2011 is more on oil and gas because about 15 per cent of GDP is driven by that sector and therefore an opportunity for us to be a major player,\u201d Mr\u00a0 Yomi\u00a0 Akapo, the Country Managing Director said in Accra. 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