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Access Bank Annual Report 2018

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Access Bank Annual Report 2018 Access Bank (Ghana) Plc 2018 Annual Report Access Bank (Ghana) Plc 2018 Annual Report CONTENTS Intoduction Governance 06 Welcome 54 The Board 08 Our Journey 57 Directors Responsibilities 57 Authority of the Board 57 Board Effectiveness Review Overview 58 Committees of the Board 59 Directors, Officers & Advisors 16 Business & Financial Highlights 60 Management team 19 Chairman’s statement 61 Directors’ report 21 Managing Director’s review 63 Independent Auditor’s report 22 Global Network Financials Business Review 70 Statement of Comprehensive Income 24 Corporate Philosophy 71 Statement of Financial Position 25 Commercial Banking 72 Changes in Equity 27 Retail Banking 74 Statement of Cash Flows 29 Corporate Banking 75 Notes 30 Public Sector 31 Investment Banking Shareholder Information 33 Our Digital Evolution 35 Operations & IT 140 Shareholder engagements 37 360 Service Experience 141 AGM Notice 39 Our people, Culture & Diversity 143 Proxy From Sustainability & Risk Corporate Information Management 146 Products & Services 46 Sustainability 153 Branch Network 49 Risk Management 156 ATM Directory 158 International Offices Page 16 Page 19 Page 21 Chairman’s MD’s Financial Statement Review Highlight Page 23 Page 33 Page 39 Our People, Business Our Digital Culture Review Evolution & Diversity Page 35 Page 46 Page 146 360 Service Sustainabilty Products Experience & Services 01 Introduction WELCOME TO A DECADE OF BANKING EXCELLENCE • To prevent negative exposure of the Bank’s network and Process Improvements provide the need to protect access to corporate data • GRC (Governance Risk & Compliance): Automation and vis-à-vis the need to monitor access to various network digitisation of manual processes across risk functions in segments, the Network Access Control (NAC) has been Access Bank. implemented to control user and device access to the Bank’s Network. • Voice of Customer (VOC): Capturing and delivering periodic reports on customer feedback and satisfaction 2018 Highlights levels with the Bank. During the year, the team focused on aligning the IT strategy with corporate strategic objectives of the Bank for growth Looking Ahead and to deliver exceptional service. The group focused on Our goal for 2019 is to deliver passionate, proactive and improving cost reduction strategies, service availability faultless services to the doorsteps of customers through through proactive monitoring, process automation and reliable, efficient, convenient and innovative technology upgrading of its Telecoms Infrastructure to support the solutions. In line with the Bank’s overall objectives, we aim to: business internal Network Security among others. • Improve operational efficiency, productivity & profitability Key Projects through hardware and network upgrades as well as the adoption of cloud solutions to reduce bottlenecks in Security business processes and ensuring speed and security in all • Entrust 2 Factor Authentication: This was deployed transactions. bank-wide to provide a second level authentication to prevent unauthorised access to systems and applications. • Deploy business intelligence solutions to help shape strategy and decision making whilst ensuring prompt and • Device Lock: In line with the Bank’s decision to secure it’s appropriate responses to business and service disruptions systems from unauthorised access and dissemination of through the implementation of Network and System valuable corporate information, Device Lock was performance monitoring solutions. implemented bank-wide to prevent data leaks from computers on our network. This was done by allowing • Improve the effectiveness of the Bank through automation administrators to control USB, DVD and CD-ROM access. The power of banking has never been more profound than now. People of business processes and innovative solutions while continuing to ensure the effective utilisation of the Bank’s everywhere want access to financial services. With our strong scale and • AppLocker: To prevent users from installing unwanted / IT resources. status, our Bank has been able to listen, anticipate and provide the unapproved software on any computer on the Bank’s solutions our customers need from every corner of the country. network. As we step back and reflect on the past decade, we see something incredible for the future: a world of opportunity, strong business growth, brand strength and an unparalleled product innovation pipeline. We are embracing a future that holds promise for our customers today and future generations tomorrow. Our aspiration to become one of the leading retail banks is illuminating our pathway to another decade of incredible success. Why not join us on this journey? Access Bank has made a notable progress in its the ATM power Infrastructure was also implemented by technological transformation by constantly adopting installing robust and sophisticated power inverters to game-changing initiatives and optimising existing provide 24 and 48 hour backup power for all on-site and infrastructure to improve system efficiencies and provide off-site ATMs respectively. customers with unmatched service. • Customers are now able to receive same day value for Over the past decade, industry benchmark automation cheques and interbank money transfers as a result of the projects have been successfully implemented to achieve Bank’s implementation of Express CTS (Cheque business optimisation and deliver a competitive advantage Truncation System) and Express ACH (Automated for our business. More sophisticated IT architecture have Clearing House). The Bank also introduced the Access Pay also been deployed to enable the rapid integration of IT platform to enable our corporate customers make bulk applications from customer facing applications through to payments to their employees, suppliers or business operations management. associates over the internet. Versatile and automated platforms for revenue collections and payments have also Overview been created to support and ease the stress of the market facing units of the Bank. • One of the key projects undertaken within the last 10 years of the Bank’s operations is the Data Recovery (DR) Site. • To facilitate the speedy resolution of IT-related issues and The DR Site replicates data from the Head Office to improve the efficiency of our service to our customers, the ensure business continuity in the event of a disaster that Global Service Desk was established to act as a centralised renders the Data Centre at the Head Office unavailable. In point of contact for all IT-related incidents and requests. addition, the Bank, in a bid to uphold its brand promise of This has helped to improve productivity bank-wide. speed, service and security, embarked on a bank-wide roll-out of fibre to deliver real-time transactions and • Following the successful implementation of the Access processes to branches. Trade portal in 2016, Citi Bank Group recognised Access Bank for its consistent and excellent processing of • Our quest to deliver banking services through a international funds transfer transactions. The two-time combination of distribution channels such as ATMs, online award demonstrates the high standards of performance and mobile banking, which make branchless banking of our people and dedication to serving our customers. possible, formed the basis for the upgrade in our Channel The recognition also underscores the Bank’s commitment Services platform. Today, Access Bank is strategically to provide customers with seamless and efficient support positioned to take advantage of the growing business for their trade transactions. opportunities that exist in the market to reduce the need for customers to visit banking halls. • Turnaround time in the banking halls as well as the cost of printing deposit and withdrawal slips has reduced • The ATM uptime has significantly improved over the years significantly after the introduction of Slip Free Banking with an availability of 98% as a result of the integration of all which also serves to promote a paperless environment. ATMs into a unified platform which further improved the This has placed Access Bank at the forefront of digital management and operations of the ATMs. An overhaul of banking in Ghana. Access Bank (Ghana) Plc 2018 Annual Report We are one of the foremost financial institutions in Africa with a strong bias for excellent service delivery. • Began operations • Approval and • FMO and PROPARCO with robust capital in conclusion of merger invests $40 million in 2009. processes between Access Bank. Access and erstwhile • Broke ev en in the first Intercontinental year of operation. Bank. 2009 2011 2012 2013 2014 • Ghana Banking Awards, 2014: • Adjudged Best Bank in Ghana • Most Socially Responsible Bank • Admitted into the prestigious Ghana Club 100 Member of the Access Bank Group, one of the largest banks in Africa by customer base. 08 • To prevent negative exposure of the Bank’s network and Process Improvements provide the need to protect access to corporate data • GRC (Governance Risk & Compliance): Automation and vis-à-vis the need to monitor access to various network digitisation of manual processes across risk functions in segments, the Network Access Control (NAC) has been Access Bank. implemented to control user and device access to the Bank’s Network. • Voice of Customer (VOC): Capturing and delivering periodic reports on customer feedback and satisfaction 2018 Highlights levels with the Bank. During the year, the team focused on aligning the IT strategy with corporate strategic objectives of the Bank for growth Looking
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