Energy Bank shifts focus to micro businesses

Managing Director of Energy Bank, Samuel Ayininuola has announced the bank’s readiness to increase support to micro-businesses, three years after entering the Ghanaian market.

This, he said, is part of the bank’s growth strategy of consolidating the gains made so far rather than a business expansion.

This came to light at the bank’s first Customer Forum in Kumasi where Mr Ayininuola also announced that the bank will gradually work towards adding to its existing eleven branches.

He said having started with macro –growth programs, the bank is now shifting attention to micro support.

Energy Bank is among high performers in the local financial market, offering corporate, retail, private and electronic banking services.

Its liquid fund to total asset ratio stands at 0.87, as well as capital adequacy and liquidity ratio of 80 per cent and 84 per cent respectively.

Energy Bank saw its total deposits rising from 107.3 million in 2011 to 115.7 million cedis in 2012.

Mr. Ayininuola tells Nhyira FM the bank is carefully rolling out growth-targeted programs to delight customers.

Whilst attributing the bank’s performance to “grace of God and adequate planning”, Mr. Ayininuola said the bank has spent time to understand the Ghanaian market.

“We came in, we looked at the experiences of those banks who came before us and we learnt from the mistakes they made. So we ensure that we did not fall into the same mistakes.”

Global Fleet Oil and Gas Limited in Nigeria own 70 per cent shares in Energy Bank.

Its profit margin has increased from five million Ghana cedis in 2011 to eight million Ghana cedis in 2013.

General Manager of the bank, Isaac Shedowo, revealed the bank will extend services to Eastern and Northern parts of the country as part of efforts to increase the bank’s current eleven branches to 20.

“We want to make Energy Bank one of the number one choices in Ghana. We are deploying Point of Sale Terminals to the entire unique supermarket, gas stations so that anywhere you are; you would be able to transact your business with Energy Bank,” Mr. Shedewo revealed.

  Story by Ohemeng Tawiah/Ghana/Nhyira FM

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