NIB to pursue aggressive deposit mobilisation

The National Investment Bank (NIB) is working hard to turn the bank’s fortunes around with enhanced profitability.

Unaudited half-year results of the state-owned bank indicated a whopping 785 per cent year-on-year increase in the provisional profit from GH¢2.04 million at the end of June 2013 to GH¢18.02 million at the end of June 2014.

NIB’s deposits for the half-year results also increased from GH¢713.4 million in June 2013 to GH¢880.8 million for the same period this year, while loans and advances went up from GH¢495.5 million in June 2013 to GH¢697.5 million in June 2014.

The Managing Director of the bank, Mr Ernest Mawuli Agbesi, reiterated at the mid-year performance review of the bank at Akosombo that the bank was poised to aggressively grow its deposits base to GH¢1.2 billion by the close of this year. 

Keeping with industry trends

The bank’s performance comes in spite of keen competition in the financial services industry comprising 28 universal banks, widely spread rural and community banks and a number of savings and loans companies and a plethora of microfinance institutions across the country.

Mr Agbesi announced that the bank had upgraded its information technology (IT) platform to one widely used in the banking industry, Temenos (T24).

He said the management of the bank believed that the T24 upgraded IT infrastructure would enable it to continue to meet the ever changing demands of its customers, as well as provide stable and secured operating environment capable of supporting modern industry standards for technology and service delivery.

For his part, the Chairman of the Board of Directors of the bank, Togbe Afede XIV, pledged the board’s support to the management team with regard to their initiatives, and asked the rank and file of the bank’s staff to show good leadership and conduct that would help transform the bank and also meet the expectations of the government.