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Annual Report12.Pdf 2 What’s inside this report Group overview Country overview 1–8 About Us 1 Country overview Performance highlights 3 Operational overview 4 Our business 5 Our strategy 6 Notice and agenda 7 5-year !nancial summary 8 Operating and Operating and !nancial review 9–31 Chairman’s statement 9 Chief Executive’s review 11 People 15 ! Sustainability 19 nancial review Standard Chartered Ghana in 2012 23 Consumer Banking 25 Wholesale Banking 29 Corporate governance Corporate governance Corporate governance 34–41 Corporate information 34 Board of directors 35 Senior management 37 Report of the directors 41 Financial statements and notes Financial statements and notes 42–94 Report of the Independent Auditors 42 Income statement 43 Statement of comprehensive income 44 Statement of !nancial position 45 Statement of changes in equity 46 Statement of cash ows 48 Notes to the !nancial statements 49 Supplementary information Supplementary information 96–97 Proxy form 96 3 Standard Chartered Bank Ghana Annual Report 2012 Performance highlights Delivering growth Financial highlights: Operational Income Normalised return on equity ¢m GH¢282m 44% 37% GH¢218m GH¢217m 33% 2010 2011 2012 2010 2011 2012 Pro!t before taxation Normalised earnings ¢m per share GH¢3.97 GH¢170m GH¢3.64 GH¢114m GH¢112m GH¢1.16 2010 2011 2012 2010 2011 2012* Total assets Dividend per share ¢m GH¢ GH¢3.05 2,391m GH¢ 1,971m GH¢ GH¢1.27 1,668m GH¢0.47 2010 2011 2012 2010 2011 2012* *Values reect post issue of bonus shares position 4 Operational overview Country overview Building diversity Operational highlights in 2012 Non-!nancial highlights Fifth successive year of profit growth with disciplined execution of our strategy Employees Wholesale Banking income up by 26 per cent with Consumer Banking registering 39 per 1 0 4 7 2011: 942 2010: 986 cent rise in income Nationalities Profit before tax increased 49 per cent to GH¢170m 1 0 2011:10 2010:11 Rebased basic earnings per share following Branches issue of bonus shares reached GH¢1.16 2 3 Overall balance sheet registered an 2011: 21 2010: 21 impressive 21 per cent growth to GH¢2.4bn Return on equity continues to be strong at 44 per cent, an increase of 11 per cent. 5 Standard Chartered Bank Ghana Annual Report 2012 Our business A strong international bank Standard Chartered Ghana belongs to an international banking group with 1,700 branches and offices in 68 markets, predominantly in Asia, Africa and the Middle East. This international perspective, coupled with our deep local knowledge, enables us to meet effectively both the local and cross-border needs of our clients and customers. We offer a wide range of banking products and services through our two businesses, Consumer Banking and Wholesale Banking. We think and operate as ‘One Bank’, supporting clients and customers by collaborating and creating synergies across our international network, businesses and functions. Consumer Banking Wholesale Banking Our customer-focused approach, centered around We offer a wide range of financing and investment providing superior service and solutions to financial needs solutions to corporate and institutional clients. One of the while rewarding our customers for their total relationships key advantages we offer is our ability to facilitate trade and with the Group, differentiates us from the competition. investment across some of the world’s fastest growing markets. We offer solutions and services through multiple channels including branches, call centre’s, award winning online We take a relationship-focused approach to business and and mobile applications to bring greater convenience and combine international capabilities with on-the-ground exibility to our clients and customers. expertise to deliver a superior service to our clients. Personal and Small and Medium-sized Global Corporates Financial Institutions Enterprise (SME) Preferred Banking We provide seamless We deliver a broad suite Banking t t t We provide a wide range international service and of services to support of banking products and t We deliver a full suite of offer a full suite of our institutional clients services including financial products, products and services to and facilitate commerce, deposits and savings services and advice to multinational financing, risk accounts, loans, SMEs across our corporations and large management and mortgages and credit network, and take businesses with investor solutions cards to serve the advantage of both our sophisticated cross- border needs. Commodity Traders and diverse and varied needs Consumer and Agribusiness of our customers. Wholesale Banking Local Corporates capabilities to help our t We leverage the strength Priority and clients grow and expand t We partner with our of our footprint to offer International Banking their businesses. clients to understand tailored services and their needs and growth solutions for commodity Private Banking tWe offer wealth aspirations. Our local traders, producers and management and cross knowledge and extensive processors for and in border solutions for the t Our international network provides access to network is a differentiator Asia, Africa and the more afuent. Our and this helps them Middle East. Priority customers are growth markets around the world while our One achieve their strategic recognized and goals. rewarded for their total Bank approach draws on relationship with us and the full complement of We combine the knowledge of a local bank with the have access to a our resources and network, platforms and capabilities of an international dedicated relationship capabilities to offer institution and offer the following solutions and services to manager, supported by a advisory services and meet the financial needs of our clients: team of experts. customized solutions to our clients. t Transaction Banking t Corporate Finance t Financial Markets t Principal Finance Performance and Risk t A review of the 2012 performance of Consumer Banking and Wholesale Banking can be found on page 60. t A review of our financial risk management approach can be found on pages 80 to 90. 6 Our strategy Country overview Leading the way in Ghana Our strategic intent To be the best international bank, We have a disciplined focus on Ghana - leading the way in Ghana a market where we have built deep local knowledge, have a competitive advantage and a commitment for the long term. Our brand promise tWe aim to lead the industry in how tOur culture and values reassure clients and customers in an Here for good we do business, by being profitable and sustainable while also having a industry where trust and ethics Here for good underpins everything social purpose. have re-emerged as critical we do. It guides how we do business We believe our existing culture and tOur values attract employees to the and the decisions we make, whether t values put us in a good position to Bank and strengthen our strategic or operational achieve this and we aim to protect relationships with clients, and reinforce them all the times. customers, investors, regulators, colleagues and society. Our distinctive strengths Collaborative network Clients and customers Disciplined growth Combining global capability and Building deep and long term Delivering results without local knowledge compromising balance sheet relationships strength or control of risks and t We focus on the development tWe focus on carefully costs sectors within Ghana as the understanding our clients and Balance sheet strength is a Standard Chartered Group focuses customers immediate and future t on the fast growing economies in banking needs cornerstone of our strategy: Africa, Asia and the Middle East building a sustainable business and supported by superior insight and tWe develop products and services creating confidence with our clients deep local relationships. around those needs rather than and customers through our ability taking a purely product driven to continue lending in times of t We have a long history in Ghana, approach scarce liquidity. a total of 117 years, while in certain markets, Standard tBy anticipating industry trends, we tAs we grow, we aim to increase Chartered goes back more than aim to be innovative and are productivity and the scalability of 150 years. increasingly digitising our services. our business so we can invest even t Our two businesses, Consumer more in growth opportunities. Banking and Wholesale Banking, tWe believe that organic growth, work together as One Bank to rather than acquisitions, drives the create value. greatest value creation for our t The Group network, from which the shareholders. Standard Chartered Bank Ghana benefits, operates effectively across borders as well as between businesses and functions. We have measured and rewarded our Courageous – We take measured risks Our values employees on the extent to which and stand up for what is right their behaviour at work supports the International – We value diversity and Our !ve core values are at the Bank’s values since 2003 work as One Bank heart of our culture and what we expect of our people We believe behaviour that reects the Trustworthy – We are reliable, open values creates long-term value for our and honest shareholders, clients and customers while having a positive social and Responsive – We deliver relevant timely economic impact on society solutions for clients and customers Creative – We innovate and adapt, continuously improving the way we work 7 Standard Chartered Bank Ghana Annual Report 2012 Notice and Agenda Notice is hereby given that the Annual General Meeting of Standard Chartered Bank Ghana Limited will be held at the National Theatre, opposite the Efua Sutherland Children’s Park, Accra on Thursday, 23rd May, 2013 at 11.00 am for the ordinary business of the Company. Agenda 1. To receive the reports of the directors and auditors, the balance sheet as at 31st December, 2012 together with the profi t and loss and income surplus accounts for the year ended on that date.
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