Bank of Africa Ghana holds 15th AGM

Bank of Africa Ghana Limited has held its 15th Annual General Meeting at Movenpick Hotel in Accra.

The meeting was chaired by Stephan Ata, Chairman of the Bank’s Board of Directors and was attended by all shareholders.

Shareholders expressed their delight with the financial results posted by the Bank at the end of the 2014 financial year. From a loss of GH¢2.9 million in 2013, Bank of Africa-Ghana posted a net profit after tax of GH¢28 million at the end of the 2014 financial year. The Bank’s total assets also expanded appreciably from GH¢633 million to GH¢922 million over the year.

The Managing Director of Bank of Africa-Ghana, Kobby Andah, attributed these results to prudent risk and financial management and enhanced efficiencies in sales and customer service.

Mr. Andah said Bank of Africa Ghana, upon its entry into the Ghanaian industry in 2011, spent the initial few years overhauling its systems, policies and procedures as well as introducing carefully thought-through and tailored banking products with a view to positioning the Bank as the preferred bank to its chosen markets in Ghana.

He said as part of its 2015 strategy, BOA Ghana will expand its branch network size by opening more branches.

“The Bank will introduce more exciting retail products to enhance the banking experience of the Bank’s cherished customers,” Mr. Andah said.

Commenting on the 2014 consolidated results of the Bank of Africa Group, Mr Abdelkabir Bennani, Group Executive Director in charge of Anglophone countries mentioned the BOA Group’s consolidated net profit increased by an appreciable 56.8% to € 90 million.

He reiterated the Group’s keen interest in supporting the economies of the countries it operates in and added that Bank of Africa Ghana and its customers could always count on this.

Mr. Ata thanked the shareholders of the Bank, its customers, board and staff for their unwavering support and assured customers of more dedicated quality service and banking products in 2015 to ensure a truly delightful banking experience with Bank of Africa - Ghana going forward.