Business News of 2014-06-07

NIB Receives A+ Rating

National Investment Bank Limited (NIB) has been adjudged the best performing Development Finance Institution in Africa for 2013 by the Association of African Development Finance Institutions (AADFI).

A statement from the Bank copied to the GNA said NIB received the award at a ceremony held in Kigali last week. The Bank received an A+ rating in the areas of governance, financial and operational standards.

NIB was among 20 Best Performing Development Finance Institutions (DFIs) in Africa who were commended. The rankings were established by the 3rd peer review with the AADFI Prudential Guidelines, Standards and Ratings System (PSGRS) released in Mombasa, Kenya in November.

NIB is a universal bank and has been in existence for over fifty (50) years. The Bank focuses on providing financial support for indigenous Ghanaian companies.

‘This rating would spur the bank on to attain greater heights. He mentioned that, the Bank has embarked on organizational re-structuring to consolidate, and position itself as the best state owned bank in the country. In line with this, a number of branches would be opened this year to bring the bank closer to its customers”, Chief Executive Officer, Mr Ernest Mawuli Agbesi.