Home > Business News > Intercontinental Bank Dreams Big

Intercontinental Bank Dreams Big

 

Albert Mmegwa-MD of Intercontinental Bank

Albert Mmegwa-MD of Intercontinental Bank

 Intercontinental Bank has announced plans to establish five business offices before the end of the year as part of efforts to improve the bank’s performance in the country.

 

The bank, which grew its deposit from GH¢83.312 million in 2007 to GH¢264.428 million in 2008, has announced plans to build a strong and enviable financial institution in the country. 

The bank, which is the currently the fastest growing bank in the country, has began training staff to equip them with the requisite knowledge and capacity to deal with the emerging oil industry. 

 

Banks in the country have began shoring up their stated capital to meet the Bank of Ghana’s (BoG) minimum capital requirement of GH¢60 million and to take part in the oil industry which would require very huge capital.

 

Intercontinental Bank revealed that its shareholders are committed to the injection of capital into the financial institution.

 

“As competition heats up in the industry with the entry of many other banks of high repute, we cannot afford to lose focus,” the bank said in a statement.

 

With regard to its 2008 financial performance, the bank posted a remarkable performance with its profit before tax increasing from GH¢14.026 million to GH¢117,000 in 2007, while its shareholder’ fund also rose from GH¢7.137 million to GH¢23.202 million. 

 

Total assets base of the bank at the end of 2008 was GH¢299.59 million, which is an increase of over 200 percent over the 2007 audited figure of GH¢99.87 million.

 

This remarkable achievement by the bank was as a result of the rapid expansion of the bank, which saw the bank’s branches increasing from five in 2007 to 17 in 2008. 

 

On human capital, the bank increased its staff from 271 in 2007 to 457 in 2008, resulting in the recruitment of about 256 persons. 

 

The bank continued to support various social events, institutions and individuals that were aimed at giving back to the society.

 

 Among many of these programmes included cash donations to the Southern Command of the Ghana Armed Force, the Children’s Department of the Korle Bu Teaching Hospital and the School for the Deaf. 

 

Established in Ghana as a subsidiary of Intercontinental Bank Plc, Nigeria, Intercontinental Bank Ghana is a financial institution driven by a passionate customer focused philosophy; with its mantra as ‘Happy Customer, Happy Bank.

 

The bank, which grew its deposit from GH¢83.312 million in 2007 to GH¢264.428 million in 2008, has announced plans to build a strong and enviable financial institution in the country. 
The bank, which is the currently the fastest growing bank in the country, has began training staff to equip them with the requisite knowledge and capacity to deal with the emerging oil industry. 
Banks in the country have began shoring up their stated capital to meet the Bank of Ghana’s (BoG) minimum capital requirement of GH¢60 million and to take part in the oil industry which would require very huge capital.
Intercontinental Bank revealed that its shareholders are committed to the injection of capital into the financial institution.
“As competition heats up in the industry with the entry of many other banks of high repute, we cannot afford to lose focus,” the bank said in a statement.
With regard to its 2008 financial performance, the bank posted a remarkable performance with its profit before tax increasing from GH¢14.026 million to GH¢117,000 in 2007, while its shareholder’ fund also rose from GH¢7.137 million to GH¢23.202 million. 
Total assets base of the bank at the end of 2008 was GH¢299.59 million, which is an increase of over 200 percent over the 2007 audited figure of GH¢99.87 million.
This remarkable achievement by the bank was as a result of the rapid expansion of the bank, which saw the bank’s branches increasing from five in 2007 to 17 in 2008. 
On human capital, the bank increased its staff from 271 in 2007 to 457 in 2008, resulting in the recruitment of about 256 persons. 
The bank continued to support various social events, institutions and individuals that were aimed at giving back to the society.
 Among many of these programmes included cash donations to the Southern Command of the Ghana Armed Force, the Children’s Department of the Korle Bu Teaching Hospital and the School for the Deaf. 
Established in Ghana as a subsidiary of Intercontinental Bank Plc, Nigeria, Intercontinental Bank Ghana is a financial institution driven by a passionate customer focused philosophy; with its mantra as ‘Happy Customer, Happy BankIntercontinental Bank has announced plans to establish five business offices before the end of the year as part of efforts to improve the bank’s performance in the countryIntercontinental Bank has announced plans to establish five business offices before the end of the year as part of efforts to improve the bank’s performance in the countryThe bank, which grew its deposit from GH¢83.312 million in 2007 to GH¢264.428 million in 2008, has announced plans to build a strong and enviable financial institution in the country. 
The bank, which is the currently the fastest growing bank in the country, has began training staff to equip them with the requisite knowledge and capacity to deal with the emerging oil industry. 
Banks in the country have began shoring up their stated capital to meet the Bank of Ghana’s (BoG) minimum capital requirement of GH¢60 million and to take part in the oil industry which would require very huge capital.
Intercontinental Bank revealed that its shareholders are committed to the injection of capital into the financial institution.
“As competition heats up in the industry with the entry of many other banks of high repute, we cannot afford to lose focus,” the bank said in a statement.
With regard to its 2008 financial performance, the bank posted a remarkable performance with its profit before tax increasing from GH¢14.026 million to GH¢117,000 in 2007, while its shareholder’ fund also rose from GH¢7.137 million to GH¢23.202 million. 
Total assets base of the bank at the end of 2008 was GH¢299.59 million, which is an increase of over 200 percent over the 2007 audited figure of GH¢99.87 million.
This remarkable achievement by the bank was as a result of the rapid expansion of the bank, which saw the bank’s branches increasing from five in 2007 to 17 in 2008. 
On human capital, the bank increased its staff from 271 in 2007 to 457 in 2008, resulting in the recruitment of about 256 persons. 
The bank continued to support various social events, institutions and individuals that were aimed at giving back to the society.
 Among many of these programmes included cash donations to the Southern Command of the Ghana Armed Force, the Children’s Department of the Korle Bu Teaching Hospital and the School for the Deaf. 
Established in Ghana as a subsidiary of Intercontinental Bank Plc, Nigeria, Intercontinental Bank Ghana is a financial institution driven by a passionate customer focused philosophy; with its mantra as ‘Happy Customer, Happy Bank.
Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: