uniBank Ghana Limited recorded exceptional financial results in 2011 after its pre-tax profit grew by 112%.
The bank over the years has been consistent with its financial performance; mainly due to prudent financial management, aggressive growth in both funded and non-funded revenues, cost-control and exceptional customer care.
Profit before tax increased significantly from GH¢6.8million in 2010 to GH¢14.4million in 2011, representing an increase of 111.76%.
Chief Executive Officer of the bank, Mr. Felix Nyarko-Pong, said the excellent performance of the bank in the 2011 Banking Awards underpins the impressive financial results.
“During the year, our bank was adjudged the Best Bank in Advisory Services and Retail Banking, and we were Second Runner-Up in Competitive Pricing and Long-term Financing in 2010,” he said.
He said uniBank’s operations and financial performance throughout the last 10 years have portrayed it as a bank that is focused on building a solid financial institution capable of standing the test of time.
The bank realised an increase in total income from GH¢34million in 2010 to GHC58million in 2011, representing a growth of 70.59%.
Loans and advances recorded a growth of 61.09% from GH¢221million in 2010 to GH¢356million in 2011, while customer deposits rose from GH¢308million in 2010 to GH445million in 2011, a growth of 44.48%.
Total assets of the bank increased from GH¢393million in 2010 to GH¢566million in 2011, representing a growth of 44.02%.
Mr. Nyarko-Pong said the bank will this year launch its VISA card onto the market to provide customers more choice in card-based transactions.
The VISA service, though not new in the industry, will be sufficiently supported by a sound operational platform and efficient service that will make uniBank-branded VISA cards the most attractive on the market.
“The human capital of uniBank will continue to form a core element in our performance. Staff at various levels have consistently exhibited great capacity and dexterity in their functions, and the bank will continue to invest in their training and overall welfare,” he said.
