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Access Bank Board assures shareholders of meeting new minimum capital

ACCESS BANK (Ghana) Plc. has held its 10th Annual General Meeting (AGM) to consider and adopt the Statement of Accounts for the year ended December 31, 2017 in Accra.

The AGM, which is the second of the Bank after it successfully listed on the Ghana Stock Exchange in 2016 as the first Ghanaian Bank of Nigerian origin, was used to highlight the Bank’s new growth objectives for the next five years and also assure shareholders that the Bank will meet the new minimum capital requirement in July, ahead of the Central Bank’s deadline of end of year.

 

Leading proceedings at the meeting, the Board Chairman, Mr Frank Beecham, highlighted that despite the challenging environment witnessed in 2017, the year became one in which the Bank demonstrated its resilience in the market and changed much for the better.

 

He added, “2018 marks the continuation of our journey and will take us to our next destination of becoming one of the leading retail banks in Ghana. This will be the year to redefine our mark as a truly sustainable bank as we commence the implementation of our next five-year Corporate Strategy.”

 

According to the management, shareholders approved all resolutions on the agenda, which included the re-election of the Board of Directors of the company, authorizing Directors to fix the fees of the Auditors and the conversion of income surplus to Stated Capital in line with meeting the new capital requirements.

 

The Managing Director (MD) of Access Bank Ghana, Mr Dolapo Ogundimu, also took the opportunity to assure shareholders that the Bank was continuously investing in change and innovation, with the goal of improving its customer experience, lowering costs and reshaping the business for the long term.

The MD added that at the end of the meeting, shareholders said they were pleased that the Bank had initiated its rights issue to shore up its capital for renewed growth opportunities and so were optimistic about its future.

Over the years, Access Bank has demonstrated a strong commitment to sustainable business practices driving profitable, sustainable growth that is also environmentally responsible and socially relevant. The Bank is also leading the way with investments in key sectors of the economy, including telecommunications, energy, oil and gas, manufacturing and agriculture.

Source: www.dailyheritage.com.gh/Muftaw Mohammed

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