Within a space of two years, the National Investment Bank (NIB) which is a parastatal private bank in Ghana established in 1963 as one of the commercial banks licensed by Bank of Ghana has witnessed a huge leap in its deposits which had risen to an amount of GHS 1,782 million by the end of 2015, representing over 130%.
This follows a focused transformational agenda being embarked upon by current management headed by Mr. Ernest Mawuli Agbesi.
Management and staff of the bank are transforming the bank in a manner and at such speed that has become the envy of many industry players especially, other state banks.
The show of dexterity and unconditional commitment by management to the progress of the bank has resulted in admirable outcomes for the Bank.
In an exclusive interview with Atinkaonline.com, Mr. John Kweku Asamoah, Chief Operating Officer of the Bank noted that, the present management also worked very hard to improve the profit position of the state bank, so that its profit rose from GHS 38 million in 2013 to GHS 120million in 2015.
This improvement in profit also saw shareholders smile as shareholder funds increased from GHS285 million in 2013 to GHS 591 million in 2015. Whereupon, dividends of GHS 9.9 million were for the first time in twelve years, paid to shareholders in 2015.
“And projections are that, more dividends will be paid by the end of 2016. It is significant to note that, about 97% of the dividends paid accrued to government of Ghana.
“The economic intuition then is that, government’s revenue enjoyed a huge boost by reason of the dedication and hard work of the current management and staff of the National Investment Bank,” he added.
The Bank increased its branches from twenty eight in 2013 to thirty nine in 2015 and currently the number has reached forty two with the Mampong branch being the latest. In addition to this incredible expansion, the Bank also undertook massive refurbishment of all existing branches.
The refurbished branches coupled with excellent customer service made and continue to make NIB the ideal destination for banking in Ghana. These they did to attract more customers to the bank.
What is particularly striking is the modesty the management of this Bank exhibit in relation to these monumental feats. They say these successes are not the limit, but the springboard to reach higher heights and thus have no intentions of entertaining complacency.
More importantly, they commend the attitude, cooperation and commitment of the Bank’s Board of Directors headed by the noble Togbe Afede XIV. They conceded that, without the support of the Board and indeed the entirety of NIB’ staff, these successes would have been elusive.
The National Investment Bank, which initially has 54% shares in a subsidiary company, 1st Ghana Savings and Loans Limited has increased it shares in this subsidiary company under the stewardship of these current management.
It has embarked on so many corporate social responsibility initiatives including construction of some wards at LEKMA hospital, and the Wenchi Methodist Hospital. It has also supported the Annual Cocoa festival, the National Best Farmer Awards, the Catholic Education Unit amongst others.
Reports across the country by the media are also favorable as the bank opens new branches to serve Ghanaians better. The current CEO, Ernest Mawuli Agbesi previously worked with the International Commercial Bank in the year 2000 and later joined Unibank in 2008. He joined NIB as the Managing Director in 2014.
