![\"Access](\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/05\/access-bank-1-696x472.jpg\" "\\"access-bank-1\\"\/")
Access Bank (Ghana) Plc has recorded an impressive growth performance across key indicators of its operations for the year ended 31st December 2021. <\/p>\n
This was revealed during the Bank\u2019s 14th Annual General Meeting (AGM), held at its head office, and streamed virtually to shareholders via a dedicated link.<\/p>\n
Delivering his address, the Board Chairman, Frank Beecham noted that the sound financial measures adopted across all operational sectors of the bank resulted in the achievement and commended all stakeholders for their efforts in this feat.<\/p>\n
\u201cI am proud to announce that despite the effects of COVID -19 on global economies, our bank grew stronger and more resilient, applying lessons learned and best practices in the sector. We recorded significant growth in total operating income as well as its total assets.<\/p>\n
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\u201cTotal operating income and profit after tax recorded significant growth; Whereas total operating income grew from GH\u00a2567,042,000 in 2020 to GH\u00a2727,607,000 in 2021, net income grew from GH\u00a2 240,792,000 to GH\u00a2 321,574,000 recording a 28.3% and 33.5% growth, respectively.<\/p>\n
\u201cOur Bank continues to be efficient with a Pre-tax Return on Investment (ROE) & Return on Asset (ROA) at 37% and 8% respectively, placing it among the top banks in Ghana,\u201d he explained. <\/p>\n
Mr Beecham also announced the payment of dividends for the first time since going public in 2016. <\/p>\n
\u201cThe Bank delivered an excellent all-round performance in the past year and in line with the Bank\u2019s Dividend Policy, the Board is pleased to propose a dividend of GH\u00a20.7927 per share,\u201d he added.<\/p>\n
He noted the bank will continue to consolidate the giant gains made, continue to focus on upscaling staff with relevant skills to help them work efficiently and assured members of the Board\u2019s commitment to sound financial decisions.<\/p>\n
Mr Beecham also at the meeting after serving the bank since 2014 announced his retirement and that of two board directors.<\/p>\n
\u201cThis year, 2022, three Non-Executive Directors including the Chairman of the Board would end their tenures with the Bank. <\/p>\n
\u201cI will be retiring from the Board at the end of June this year. He expressed his appreciation to esteemed members of the Bank, for keeping faith in the Bank and in the Board,\u201d he said.<\/p>\n
The Managing Director, Olumide Olatunji who also addressed members and shareholders, attributed the bank\u2019s performance to the collective commitment of staff and improved digital technology deployed by the Bank in its operations. <\/p>\n
\u201cWe achieved significant growth, recording a 41% Profit before Tax (PBT), higher than the projected industry growth rate of 27%. Our total assets also saw a 28.6% growth in the 2021 full year, from GHS5,823,778,000 in 2020 to GHS7,491,295,000, also higher than the projected industry growth rate of 17%.<\/p>\n
\u201cOur combined scale, digital capabilities, and ecosystem enabled us to achieve this significant feat. It reflects sheer hard work and efforts we put in our work, bolstered by a team of dedicated professionals and robust risk management structures,\u201d he noted.<\/p>\n
He was optimistic about the outlook for the banking industry and the opportunities available to Access Bank.<\/p>\n
\u201cAdjusting to the emerging financial terrain requires a deliberate focus on executing our strategy to live our brand promise. We will continue to pursue our digital transformation and retail dominance agenda to deliver superior value to our customers,\u201d Olumide noted.<\/p>\n
Shareholders approved all resolutions on the agenda which included among other things, the ratification of the appointment of two Executive Directors of the Bank: James Bruce and Pearl Nkrumah and to receive and consider the Audited Financial Statements of the Bank for the year ended 31st December 2021 together with the Reports of the Directors and Auditors.<\/p>\n
In the end, shareholders adopted the 2021 audited financials as presented by Ernst & Young Chartered Accountants for the period.\u00a0<\/p>\n
Since 2009, Access Bank has demonstrated a strong commitment to sustainable business practices driving profitable, sustainable growth that is environmentally responsible and socially relevant. <\/p>\n
These have contributed to the Bank being recognized in various awards in 2021 including the Most Innovative Retail Bank by Global Brands Awards, Best Bank in Customer Service by the World Economic Magazine Award and Best Bank in Customer Satisfaction by the Chartered Institute of Marketing Ghana (CIMG).<\/p>\n
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