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NIB pays 15 billion cedis dividend to
Government
Accra, April 4, GNA - Ghana’s only mainstream investment
bank, National Investment Bank (NIB), on Wednesday paid 15
billion cedis dividend to the Government on its 2006
accounts.
This is after recording a profit after tax of 44.2 billion
cedis.
Making the presentation, Dr Charles D. Jebuni, Board
Chairman, NIB, said total deposits grew by 35.3 per cent
from 1,254.4 billion cedis as at 31st December 2005 to
1,697.54 billion cedis at the end of December 2006.
He said the strategic posture of the Bank to be a catalyst
in industrial and economic development was given a further
boost with the appointment of the Bank as the financial
operator for the implementation of the project on perennial
crops, namely oil palm and rubber plantations development in
the Western and Central Regions.
Dr Jebuni said they had plans with the Ministry of Road
Transport and BHF Bank to provide more road equipment for
Ghanaian road contractors to enhance their operational
capacity and competitiveness.
"The banking industry,” he explained, “is gradually becoming
more competitive and our ability to offer good returns to
our stakeholders will largely depend on our skills as
bankers with the business acumen for creating and enhancing
niches in target markets," he said.
Dr Anthony Akoto-Osei, Deputy Minister of Finance and
Economic Planning, said the Government had over the past few
years committed itself to improving the financial sector
through institutional, legal and regulatory reforms to give
further impetus to the deepening of financial
intermediation.
He said the Government would continue to create the enabling
environment to improve the banking sector and the delivery
of services to the general public at competitive cost for
all sectors to thrive.
"It is our hope that NIB will continue to work harder and
partner the Government in its effort to bring development to
the people" he said.
GNA
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