uniCredit records impressive 2016 Financial Performance

Chief Executive Officer of uniCredit, Mr. Samuel Sakyi-Hyde has re-affirmed the commitment of the institution to strengthen its state in the SME banking market. Speaking to newsmen during a brief interaction on the Company’s performance for 2016, he said uniCredit has seen consistent growth over the last 5 years.

“Our company’s operations and financial performance over the past 5 years have witnessed consistency in growth and expansion during the period. We have improved every year, and our 2016 operating results also did significantly in line with Budgets” he added.

Mr. Sakyi Hyde said with an improved operating environment over that of 2015, uniCredit emerged as a profitable institution and a prominent player in the savings and loans industry with strong financial performance. This, he noted is consistent with the company’s results over the years and is proof of the increasing loyalty by valued customers in spite of intense competition in the industry.

uniCredit posted a profit before tax of GH¢13.78 million in 2016 compared to GH¢9.46 million in 2015. The institution also grew its total asset by 48.7% during the year from GH¢328.4 million in 2015 to GH¢488.18 million in 2016. He hinted that the Company also witnessed significant growth in all its business lines, which is reflective of a deliberate approach to create sustainable value and a focused implementation of the company’s business strategy.

The institution’s customer deposits increased by 46.10% to GH¢ 355.49 due to gains from its expanded branch network which stood at twenty three (23) at the end of 2016.

Touching briefly on the company’s outlook for 2017, Mr. Sakyi-Hyde said much as a lot has been achieved over the last year, the company was looking forward to leveraging on its strong capital position to sustain planned future development in order to deliver value to both customers and the shareholders.

He hinted that the launch of its electronic banking suite last year and the massive investments in IT infrastructure was just to set the stage for the big expectations that will be rolled out in the electronic banking space in 2017.

“We are taking advantage of technology to bring enhanced service delivery to our valued customers” he said.

He said much as technology will be used to drive the business, uniCredit will still create presence in strategic locations by way of branch expansion to boost access for its target market.

With a strong commitment to making SME banking more convenient, uniCredit currently ranked among the top 3 Savings and Loans Companies and a member of the Ghana Club 100, uniCredit has seen consistent growth over the past 5 years and remains focused and to the growth and development of the country’s SME sector which is seen as a the engine of growth for the economy.