Summary of Status Report February 2020
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2016 Ghana Banking Survey How to Win in an Era of Mobile Money
2016 Ghana Banking Survey How to win in an era of mobile money August 2016 www.pwc.com/gh Contents A message from our CSP 2 A message from the Executive Secretary of Ghana Association of Bankers 4 Comments on 2016 Ghana Banking Survey 6 A message from our Tax Leader 8 1 How to win in an era of mobile money 10 2 Overview of the economy 26 3 Overview of the banking industry 32 4 Quartile analysis 36 5 Market share analysis 48 6 Profitability and efficiency 56 7 Return to shareholders 64 8 Liquidity 68 9 Asset quality 74 A List of participants 77 B Glossary of key financial terms, equations and ratios 78 C List of abbreviations 79 D Our profile 80 E Our leadership team 84 PwC 2016 Ghana Banking Survey 1 A message from our CSP for consumer banking. Besides, it offers in designing a practical and forward huge cheap deposits that banks could looking regulation that will streamline use to create money in the economy. It operations in the mobile money market. is against this backdrop that we focused This will require extensive consultation this year’s banking survey on “How to win locally and leveraging the experience of in an era of mobile money”. other countries such as Kenya that are advanced in the delivery of the service. Unlike the 2015 banking survey that sought responses from bank executives In addition to regulations and as well as bank customers, this year’s partnerships, the other critical success survey was based on responses from factors which we discussed with bank bank executives only. -
Financial and Investment Market Update
Financial and Investment Market Update This article provides an objective account of events and developments in Ghana’s financial sector since January 2017. It briefly details the developments and challenges, which the 2017-2019 banking sector reforms have brought, as well as its impact on financial sector players. In the spirit of transparency and in keeping with our fiduciary responsibility to our clients, an educative article of this nature becomes necessary, especially as financial sector players work to overcome the challenges that have come with the banking sector reforms. Fallouts of the 2017-2019 Banking Sector Reforms The financial sector has been experiencing extreme turbulence following the financial system cleanup which begun in 2017 with the collapse of UT Bank and Capital Bank on August 14, 2017. The aforementioned banks were subsequently absorbed by GCB Bank. A Receiver was also appointed to take over some of the assets of the two banks. The Bank of Ghana further revoked the licenses of Sovereign Bank, UniBank, Beige Bank, Royal Bank and Construction Bank on August 1, 2018. Out of these defunct banks, the Consolidated Bank Ghana Ltd (CBG) was established and commenced operations with a capital of GHS 400 million. The Government of Ghana is the sole shareholder and a Receiver was appointed to take over some of the assets of these five banks. GhanaHowever, Limited. the Bank of Ghana on January 4, 2019 revoked the licenses of Heritage Bank and Premium Bank. These two banks were added to the list of Banks that constituted the Consolidated Bank Also, the Bank of Ghana proceeded to accept and approve an application for a Savings and Loans license by GN Bank, after it failed to meet the new minimum required capital of GHS400 million, whereas the Bank of Baroda voluntarily applied for winding-up. -
Annual Report 2013
NATIONAL INVESTMENT BANK 2013 Annual Report Your Business is Our Business National Investment Bank Limited | 2013 Annual Report [email protected] 2 www.nib-ghana.com National Investment Bank Limited | 2013 Annual Report CONTENTS Notice and Agenda of Annual General Meeting 04 Corporate Information 05 Chairman’s Statement 07 Managing Director’s Statement 10 Prole of Board of Directors 12 Report of Directors 16 Financial Highlights 17 Independent Auditor’s Report 25 Statement of Comprehensive Income 27 Statement of Financial Position 29 Statement of Changes in Equity 30 Statement of Cash Flows 31 Notes to Financial Statements 63 Proxy Form 99 Head Oce and Branches 102 List of Correspondent Banks 104 Your business is Our Business 3 National Investment Bank Limited | 2013 Annual Report NOTICE AND AGENDA OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 45th Annual General Meeting of the National Investment Bank Limited will be held at the La-Palm Royal Beach Hotel, Accra at 10:00 a.m. on Thursday, 12th June, 2014 to transact the following business: 1. To receive and consider the Financial Statements for the year ended 31st December, 2013, together with the Reports of the Directors and Auditors thereon. 2. To elect / re-elect Directors 3. To approve Directors‘ Fees 4. To authorize the Directors to determine the remuneration of the Auditors. Dated this 12th Day of May, 2014. BY ORDER OF THE BOARD. Frank S. Aidoo Board Secretary NOTE: A member entitled to attend and vote may appoint a proxy who need not be a member of the Bank. -
Pension-Fund-Custodians-In
NATIONAL PENSIONS REGULATORY AUTHORITY NPRA PUBLIC NOTICE á LIST OF REGISTERED PENSIONS FUND CUSTODIANS THAT HAVE FULFILLED THE PRESCRIBED REQUIREMENTS OF THE AUTHORITY FOR THE 2019 AUTHORISATION PROCESS. THE LICENCES ARE VALID UNTIL 31ST JULY, 2020 LICENCE / TELEPHONE NO. NAME OF SERVICE PROVIDER REGISTRATION PHYSICAL ADDRESS CONTACT PERSON NUMBERS NO. 1. Agricultural Development FC12005 Accra Financial Elorm Aidam 0244-253181 Bank Centre, 3rd Ambassadorial Development Area, Ridge-Accra 2. First Atlantic Bank Limited FC15001 Atlantic Place No. 1 Yvonne Oppong- 0541-704753 Seventh Avenue, Ayisi Ridge West, Accra 3. Standard Chartered Bank FC12002 Standard Chartered Beverly Frimpong 0202-023933 Ghana Limited Bank Head Office #Independence Avenue 4. Republic Bank Ghana FC12006 No 48A Sixth Audrey Smith 0208-737616 Limited Avenue, North Dadzie Ridge, Accra 5. Fidelity Bank Ghana Limited FC12011 1st Floor, Ridge Rebecca Gyebi 0544-338784 Towers, Accra Elias Augustine 0576-036467 Dey 6. Ecobank Ghana Limited FC12001 Ecobank Ghana Vera-Marie Ayitey- 0244-483036 Head Office, Accra Smith 7. Cal Bank Limited FC12004 No. 23 Nan Opoku (Ms.) 0244-601170 Independence Avenue-Accra Website: www.npra.gov.gh , e-mail: [email protected] “Ensuring Retirement Income Security” NATIONAL PENSIONS REGULATORY AUTHORITY NPRA PUBLIC NOTICE á LICENCE / TELEPHONE NO. NAME OF SERVICE PROVIDER REGISTRATION PHYSICAL ADDRESS CONTACT PERSON NUMBERS NO. 8. Stanbic Bank Ghana Limited FC12003 Stanbic Heights, Eunice Amoo- 0244-333145 Airport City, Accra Mensah 9. Zenith Bank Ghana Limited FC12013 31 Independence Alvin Abbah-Foli 0242-729012 Avenue, Accra 10. Prudential Bank Limited FC12007 8 John Harmond Seth Kyeremeh 0244-762652 Street, Ring Road Central, Accra 11. -
The Determinants of Bank's Profitability in Ghana, The
The Determinants of Bank’s Profitability in Ghana, The Case of Merchant Bank Ghana Limited (MBG) and Ghana Commercial Bank (GCB) By Anthony Kofi Krakah & Aaron Ameyaw Henrik Sällberg (Supervisor) Master’s Thesis in Business Administration, MBA programme 2010 Table of Contents Table of Contents ............................................................................................................................................ i ABSTRACT ...................................................................................................................................................... v ACKNOWLEDGEMENT ........................................................................................................................................ vi CHAPTER ONE ............................................................................................................................................... 1 1.0 INTRODUCTION ...................................................................................................................................... 1 An overview of the banking industry in Ghana ..................................................................................................... 3 1.2 Background of the banks ......................................................................................................................... 6 Global Banking Industry .................................................................................................................. 12 Statement of the problem .......................................................................................................................... -
Management and Staff of Societe Generale Ghana Support the Ghana Heart Foundaton with Ghs 160,000.00
Accra – Ghana, 20th March, 2019 MANAGEMENT AND STAFF OF SOCIETE GENERALE GHANA SUPPORT THE GHANA HEART FOUNDATON WITH GHS 160,000.00 Fig 1. Management, Staff Representatives of Societe Generale Ghana with Members of the Ghana Heart Foundation Management and Staff of Societe Generale Ghana, TOGETHER made a donation amount of GHS 160,000.00 to the Ghana Heart Foundation to support the Foundation in the area of health care delivery. Receiving Societe Generale Ghana, Prof. Dr. Mark Tettey, Cardiothoracic Surgeon of the National Cardiothoracic Centre at Korle-Bu Teaching Hospital and Representative for the Ghana Heart Foundation at the ceremony expressed their heartfelt gratitude to Management and Staff of the bank for their continued and loyal support to the Foundation over the years to date. Prof. Dr. Tettey stated that the Ghana Heart Foundation (GHF) of the Korle-Bu Teaching Hospital is a charity organization dedicated to saving lives and improving health care by informing the public on heart or cardiovascular related diseases. He said the Foundation also assisted people with cardiovascular disease by providing for cardiovascular research and training for health workers involved in cardiovascular care. 1 Speaking at the event, Mr Hakim Ouzzani; Managing Director of Societe Generale Ghana noted the very successful administration of funds received by GHF to the extent that every Ghanaian patient undergoing heart surgery receives 50% subsidy from the Trust Fund. He mentioned the values of the bank which encompass; Responsibility, Team Spirit, Commitment, Innovation and consequently, the bank’s presence at the centre for the donation which is an expression of Team Spirit aimed at preserving the lives. -
Ghana Fixed Income Market Summary of Status Report
GHANA FIXED INCOME MARKET SUMMARY OF STATUS REPORT JUNE 2019 1 MEMBERSHIP GFIM as at the end of June 2019 has 41 registered members categorized as follows: LICENSED DEALING MEMBERS PRIMARY DEALER BANKS 1. African Alliance Securities Limited 1. Access Bank Ghana Limited 2. Black Star Brokerage Limited 2. ARB Apex Bank 3. Bullion Securities Limited 3. Barclays Bank Ghana Limited 4. Cal Brokers Limited 4. Cal Bank Ghana Limited 5. CDH Securities Limited 5. Consolidated Bank Ghana Limited 6. Databank Brokerage Limited 6. Ecobank Ghana Limited 7. EDC Stockbrokers Limited 7. Fidelity Bank Ghana Limited 8. Gold Coast Brokerage Limited 8. GCB Bank Limited 9. Republic Securities Ghana Limited 9. Guaranty Trust Bank Ghana Limited 10. IC Securities Limited 10. Societe Generale Ghana Limited 11. Liberty Securities Limited 11. Stanbic Bank Limited 12. NTHC Ltd 12. Standard Chartered Bank Limited 13. Prudential Stockbrokers Limited 13. Universal Merchant Bank 14. SBG Securities Ghana Limited 15. SIC Financial Services Limited 16. Strategic African Securities Limited 17. UMB Stock Brokers Ltd NON - PRIMARY DEALER BANKS 1. Agricultural Development Bank 2. Bank of Africa Ghana Ltd 3. First Atlantic Bank Ghana Ltd 4. First National Bank Limited 5. FBN Bank Ghana Ltd 6. National Investment Bank 7. Prudential Bank Limited 8. Republic Bank Ghana Limited 9. Sahel Sahara Bank Ghana Limited 10. UBA Ghana Limited 11. Zenith Bank Ghana Ltd 2 SUMMARY OF SECURITIES Benchmark Securities: 9 3yr Government bond- 1 5yr Government bond- 5 7yr Government bond- 1 10yr Government bond- 1 15yr Government bond- 1 Non-Benchmark Securities: 20 3yr Government bond-10 5yr Government bond- 5 6yr Government bond- 1 7yr Government bond- 3 10yr Government bond-1 Treasury Notes: 34 1yr Government note- 16 2yr Government note- 18 Treasury Bills: 64 364 day bill- 13 182 day bill- 25 91 day bill- 12 Ghana Cocoa Bill- 14 Local US dollar 3-year bond-1 Eurobond-9 Corporate Bonds AFB Ghana Plc 18 Bayport Financial Services (Ghana) 9 Edendale Properties 2 Izwe Loans Ghana 6 PBC Ghana Limited 1 E.S.L.A. -
Societe Generale Ghana 2019 Annual Report
ANNUAL REPORT 2019 2019 ANNUAL REPORT AND FINANCIAL STATEMENTS 2019 Major Events WE INTRODUCED NEW INNOVATIONS Electronic billboard to communicate Our 24/7 drive-in ATM to the public about our product offers at Achimota branch & Our solar project. A cleaner, more effective energy source at our head office WE LAUNCHED NEW SERVICES 2019 Major Events WE LAUNCHED EXCITING COMMERCIAL PROMOTIONS & CAMPAIGNS Loans Promotion Deposit and Win Promotion WE OPENEDM ORE OUTLETS Achimota Branch Osu Branch TABLE OF CONTENTS Overview 02 Notice and agenda for annual general meeting Corporate Governance 03 Corporate information 04 Profile of the board of directors 07 Key management personnel Strategic report 10 Chairman's statement 13 Managing director’s review Financial statements 16 Report of the directors 31 Statement of directors responsibilities 32 Independent report of the auditors 36 Financial highlights 38 Statement of profit or loss and other comprehensive income 39 Statement of financial position 40 Statement of changes in equity 41 Statement of cash flows 42 Notes to financial statement 94 Proxy form 95 Resolutions 97 Branch network 2019 ANNUAL REPORT & FINANCIAL STATEMENTS 1 Notice and Agenda NOTICE AND AGENDA FOR ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the 40th Annual General Meeting of Societe Generale Ghana Limited (the “Company”) will be held on Thursday, 26 March 2020 at 11am at the Alisa Hotel, Ridge Arena, Accra Ghana for the following purpose:- Ordinary Business: Ordinary Resolutions 1. To elect Directors, the following directors appointed 5. To approve Directors’ fees. during the year and retiring in accordance with Section 72(1) of the Company’s Regulations: 6. -
PRESS RELEASE PR. No 105/2020 SOCIETE
PRESS RELEASE PR. No 105/2020 SOCIETE GENERALE GHANA LIMITED (SOGEGH) - 2019 ANNUAL REPORT SOGEGH has released its Annual Report for the year ended 31 December, 2019 as per the attached. Issued in Accra, this 18th day of March, 2020. - E N D – att’d. Distribution: 1. All LDMs 2. General Public 3. Company Secretary, SOGEGH 4. NTHC Registrars, (Registrars for SOGEGH shares) 5. GSE Securities Depository 6. Securities & Exchange Commission 7. Custodian 8. GSE Council Members 9. GSE Notice Board For enquiries, contact: Head of Listings, GSE on 0302 669908, 669914, 669935 *GA ANNUAL REPORT 2019 2019 ANNUAL REPORT AND FINANCIAL STATEMENTS 2019 Major Events WE INTRODUCED NEW INNOVATIONS Electronic billboard to communicate Our 24/7 drive-in ATM to the public about our product offers at Achimota branch & Our solar project. A cleaner, more effective energy source at our head office WE LAUNCHED NEW SERVICES 2019 Major Events WE LAUNCHED EXCITING COMMERCIAL PROMOTIONS & CAMPAIGNS Loans Promotion Deposit and Win Promotion WE OPENEDM ORE OUTLETS Achimota Branch Osu Branch TABLE OF CONTENTS Overview 02 Notice and agenda for annual general meeting Corporate Governance 03 Corporate information 04 Profile of the board of directors 07 Key management personnel Strategic report 10 Chairman's statement 13 Managing director’s review Financial statements 16 Report of the directors 31 Statement of directors responsibilities 32 Independent report of the auditors 36 Financial highlights 38 Statement of profit or loss and other comprehensive income 39 Statement of financial position 40 Statement of changes in equity 41 Statement of cash flows 42 Notes to financial statement 94 Proxy form 95 Resolutions 97 Branch network 2019 ANNUAL REPORT & FINANCIAL STATEMENTS 1 Notice and Agenda NOTICE AND AGENDA FOR ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the 40th Annual General Meeting of Societe Generale Ghana Limited (the “Company”) will be held on Thursday, 26 March 2020 at 11am at the Alisa Hotel, Ridge Arena, Accra Ghana for the following purpose:- Ordinary Business: Ordinary Resolutions 1. -
National Pensions Regulatory Authority
NATIONAL PENSIONS REGULATORY AUTHORITY NPRA PUBLIC NOTICE á LIST OF REGISTERED PENSIONS FUND CUSTODIANS THAT HAVE FULFILLED THE PRESCRIBED REQUIREMENTS OF THE AUTHORITY FOR THE 2020 AUTHORISATION PROCESS. THE LICENCES ARE VALID UNTIL 31ST JULY, 2021 LICENCE / TELEPHONE NO. NAME OF SERVICE PROVIDER REGISTRATION PHYSICAL ADDRESS CONTACT PERSON NUMBERS NO. 1. Prudential Bank Limited FC12007 8 John Hammond Seth Kyeremeh 0244-762652 Street, Ring Road Central, Accra 2. Access Bank Ghana Limited FC20002 Starlets '91 Road Franklin Ayensu- 0244-128163 Opposite Accra Nyarko Sports Stadium, Osu 3. First National Bank Ghana FC20001 6th Floor Accra Hilda Esenam 0242-435156 Limited Financial Centre, Odame-Gyenti 0501-632441 Liberia Road. 4. Agricultural Development FC12005 Accra Financial Elorm Aidam 0244-253181 Bank Centre, 3rd Ambassadorial Development Area, Ridge-Accra 5. GCB Bank Limited FC18002 No. 2 Thorpe Road, John Ekow 0557-410577 Accra Appiah-Sam 6. Ecobank Ghana Limited FC12001 Ecobank Ghana Albert Amekugee 0244-427476 Head Office, Accra 7. Zenith Bank Ghana Limited FC12013 31 Independence Alvin Abbah-Foli 0242-729012 Avenue, Accra Website: www.npra.gov.gh , e-mail: [email protected] “Ensuring Retirement Income Security” NATIONAL PENSIONS REGULATORY AUTHORITY NPRA PUBLIC NOTICE á LICENCE / TELEPHONE NO. NAME OF SERVICE PROVIDER REGISTRATION PHYSICAL ADDRESS CONTACT PERSON NUMBERS NO. 8. Republic Bank Ghana FC12006 No 48A Sixth Audrey Smith 0208-737616 Limited Avenue, North Dadzie Ridge, Accra 9. Fidelity Bank Ghana Limited FC12011 1st Floor, Ridge Rebecca Gyebi 0544-338784 Towers, Accra Elias Augustine 0576-036467 Dey 10. Guaranty Trust Bank FC12008 25A Castle Road Michael Yevu 0504-100158 (Ghana) Limited Ambassadorial Area, Ridge, Accra 11. -
Sector Profile of Ghana's Financial Services Industry
SECTOR PROFILE OF GHANA’S FINANCIAL SERVICES INDUSTRY Table of Contents LIST OF ABBREVIATIONS AND ACRONYMS .....................................................................4 EXECUTIVE SUMMARY ...............................................................................................................5 1. 0 OVERVIEW OF THE INDUSTRY ......................................................................................8 1.1 Introduction ............................................................................................................................................................8 1.2 Government Policy and Regulatory Environment for the Industry .............................................9 1.2.1 Regulation and Supervision of Financial Markets..................................................... 9 1.2.2 Banking and NBFI (Non-Bank Financial Institution) Regulation and Supervision ... 10 1.2.3 Insurance Regulation and Supervision.................................................................... 10 1.2.4 Strengthening of Capital Markets ........................................................................... 10 1.2.5 Pension Sector Development................................................................................... 11 1.2.6 Access to Finance and Financial Sector Governance............................................... 11 1.2.7 Regulatory Environment.......................................................................................... 11 1.2.8 Bank of Ghana ........................................................................................................ -
Survey of Bank Charges
Survey of Bank Charges Third Quarter, 2019 Financial Stability Department Contents Abbreviations ............................................................................................................................................................................................................................................. 3 DOMESTIC BANKING PRODUCTS AND SERVICES ....................................................................................................................................................................... 5 Savings account: E-banking Products and Services Fees ............................................................................................................................................................. 6 Initial Deposit Required for Savings Accounts ................................................................................................................................................................................. 7 Minimum Operating Balance Required for Saving Accounts ......................................................................................................................................................... 8 Current Account: Initial Deposit Required (IDR) and Minimum Operating Balance (MOB) ...................................................................................................... 9 Current Account Charges: Commission on Turnover (COT) ......................................................................................................................................................