Patience Akyianu

Patience Akyianu, MD Barclays Bank Ghana

Barclays Bank Ghana has indicated it will roll out enhanced fixed income products to local institutional clients this year to satisfy the demands of the developing market.

According to the bank, the economy needs infrastructure and manufacturing advances which it was already partnering at all levels to drive growth in development.

Patience Akyianu, Managing Director of Barclays Bank Ghana, who disclosed this at her outfit?s AGM luncheon yesterday in Accra said: ?We recognise that the SME sector remains the driving force of the economy and we are committed to developing excellence in business banking. This is a central strategic theme for the business.?

She also mentioned that Barclays Bank Ghana was committed to providing strength to the global yet local banking franchise across regions, teams and continents to provide ?Go-To? solutions for all segments.

Commenting on Barclays Ghana?s performance for the 2013 financial year, she said it recorded profit-before-tax of GH?202.5 million, representing a 34.2 percent increase above the GH?150.8 million recorded in 2012.

The bank?s total income grew by 31.2 percent driven by significant growth in its total loan book and higher yields on Government bills and bonds.

Operating expenses inched up by 22.0 percent as a result of general increases in inflation, utility and fuel prices experienced in the year while the growth in impairment was partly indicative of the growth in loans and advances.

She also said the bank?s balance sheet grew quite well with total assets growing by 18.6 percent to end 2013 at GH?2,343.0 million while loans and advances grew significantly by 25 percent to GH?993.8 million at the end of 2013.

Customer deposits also grew by 9.5 percent in a competitively challenging environment from GH?1,454.3 million in 2012 to GH?1,592.4 million at the end of 2013.

?We continued with our market leading products in retail. From free ATM charges, we rolled out intelligent cash accepting ATMs which we brought onto the market for the first time in 2012.

?To date, our ATMs are the most sophisticated in the industry. We were also the first and only bank to introduce credit life, our free loan insurance offering.? Barclays also introduced Ping-it, a mobile to mobile international transfer service which is fast gaining grounds.

?We crowned the year by beginning the paperless journey in our branches with the deployment of customer identification and verification to all branches.?

The bank also leveraged its local, regional and global expertise to structure and provide award-winning and profitable deals like the Euroget and the NMS/Ministry of Finance deals.

Barclays Bank integrated its operations in eight African countries into ABSA bank in South Africa creating the Barclays Africa Group Limited.

Furthermore, Ms Akyianu averred: ?This year, we will intensify our efforts to grow our balance sheet sensibly as we keep a close eye on pricing.?

BY Melvin Tarlue

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