Ecobank Ghana to consolidate leadership position

ECOBANK PIXEcobank Ghana, says it will consolidate its leadership of the industry by continuously providing its customers with excellent services from a world-class financial institution.

The bank said it had chalked a significant amount of success in the 2014 financial year and was poised to improving on it.

Rev. Mrs Patricia Sappor, Head of Public Relations and Communications disclosed this when she paid a courtesy call on the Editor of The Ghanaian Times, Mr. David Agbenu, in Accra yesterday to introduce herself as the new head of the Public Relations and Communications unit of the bank.

She said with the commitment, dedication, and passion the bank it would continue to be the financial institution of choice for the ever-growing banking populace.

Ecobank Ghana is currently the largest bank in Ghana with an asset size of GH¢9 billion as at the end of the third quarter of 2014.

The bank posted a profit before tax of GH¢332.8 million for the third quarter of 2014, a 90 per cent jump from the 2013 figure of GH¢175.4 million.

Total income increased by 47 per cent to GH¢621.1 million from GH¢423.8 million in 2013 with customer deposits also increasing by 47 per cent to GH¢4.1 billion as against GH¢2.7 billion in 2013.

Loans and advances to customers grew by 50 per cent to GH¢2.6 billion. On operational efficiency, cost to income ratio decreased from 45 per cent in 2013 to 40 per cent in 2014 while achieving a return on average equity of 47 per cent as well.

The bank’s non-performing loans, as at the end of September 2014, stood at 5.2 per cent, down from 6.4 per cent from the same period last year.

Mrs. Sappor said the financial results for the third quarter of last year had revealed how the bank performed last year as was looking forward to improving on it.

She commended The Ghanaian Times for the tremendous role it had played towards the growth of businesses in Ghana.

“We are appreciative of the work you are doing to promote the business sector in particular and the development of the country in general,” she said.

She maintained that without the media, no corporate entity could tell its success story to the clientele and pledged to work in tandem with The Ghanaian Times to enhance communications as well as highlight the improvement Ecobank had made in the lives of its customers.

To ensure customer satisfaction and confidence, she said various products have been introduced and, therefore, urged Ghanaians to patronise the bank.

On his part, Mr. David Agbenu, Editor, said that The Ghanaian Times not withstanding its present circumstances would see drastic improvement soon, as pragmatic measures were in place to ensure quality product for its cherished customers.

“I hope this collaboration will inure to the benefit of all,” he said, in optimism.

Responding to a suggestion by Mr. Jim MacCauley, Deputy Editor that the bank should stretch its tentacles to cover the lower income earners than sticking to the elite, Rev. Mrs. Sappor said that even though they started as a corporate bank, greater percentage of their clients now were in the retail sector.

The Deputy Editor again advised Ecobank to eschew complacency which he said was the characteristic of some of the leading banks in the country that had created an avenue for the smaller banks to penetrate their ranks.

By Castro Zangina-Tong

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