NIB optimistic about prospects for 2015

AGBESIThe National Investment Bank says it is optimistic about the prospects of the bank and the economy next year.

Speaking to the Times Business after the bank’s annual thanksgiving service in Accra on Sunday, Mr. Ernest Mawuli Agbesi said “We made impressive performance in 2014 and we hope to consolidate the gains made last year in 2015. The bank’s growth trajectory would continue this year.”

The programme which was on the theme, “Growing the year with God’s goodness,” was attended by management, staff, the board, staff and well wishers of the bank.

Mr. Agbesi hinted that for the first time in ten years, NIB   this year would declare dividend for shareholders.

He attributed the success NIB  recorded last year to good management practices,  active  support of the poard, and  recruitment of new qualified staff to augment the existing hardworking ones.

Short of mentioning any figures to prove the financial performance of the bank, the Managing Director said, “I am not going to disclose any figure today. You will see our outstanding performance when we publish our financial results in March.”

Outlining some measures to further improve on the performance of the bank, Mr Agbesi said the bank would develop innovate products this year and also establish more branches this year.

“Our new strategic direction is to reach 50 branches in 2017, from the current 28 and we are starting by opening 13 branches in this year in Sawla, Hohoe, Nkwanta and Kumasi and other locations,” he said.

In addition, he said, the bank had procured a $3 million banking software to improve on electronic banking of the NIB.

“NIB has also revamped the Small and Medium Enterprise department of the bank in a bid to serve smaller businesses,” he said.

Mr. Agbesi said the management   would continue to work hard to initiate strategies to improve on the performance as well as hold on the bank’s s mandate of leading the industrialisation of the country.

The bank, he said, currently had equities in twenty big companies such as Nestle, Total Ghana and Nexans.

Mr. Agbesi commended all the staff for their hard work that had propelled the bank on a higher growth pedestal.

Rt. Reverend Francis Amenu, the immediate past Moderator of the General Assembly of the EP Church Ghana, who preached the sermon, entreated financial institutions in the country to examine their mandate for them to become relevant to society and their customers.

He entreated the financial institutions to develop innovative products to meet the needs of their customers, particularly the poor and marginalised in society.

Rt. Rev. Amenu expressed concern about the country’s reliance on imported products, and wondered why the state would spend millions of dollars to import toothpick which could be produced locally.

The outgone Moderator appealed to NIB to support the cultivation of bamboo and the production of toothpick locally.

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