FBNBank Ghana has opened a new branch in Tema Community 6, to serve its customers. The new Tema Hospital branch of FBNBank, the bank’s 24th location, is specifically designed to cater to individuals, commercial, and corporate clients in Tema and its surroundings.
This new branch is expected to address the needs of Small and Medium Enterprises (SMEs) and retail businesses in the area. The branch will also offer Premium Banking, which aims to provide priority service, comfort, security, luxury, and easy access to financial advisory services to the bank’s customer segment.
Mr. Victor Yaw Asante, Managing Director and Chief Executive Officer of FBNBank, in his keynote address, expressed his excitement for the successful completion of the edifice praised the bank for the initiative to serve the people of community 6 and its environs.
“The opening of this branch is in line with the bank’s agenda to enhance our network in order to offer a full range of services to our customers and clients. We will continue to get closer to our customers, clients, and prospects, developing customized products and services to suit their needs. This embodies our brand mantra of putting our stakeholders first.”
Mr. Victor Yaw Asante
FBNBank Ghana’s Third Physical Presence In Tema
Mr. Asante disclosed that the new branch is FBNBank Ghana’s third physical presence in Tema, with a branch already located at the Community One Market Square and an agency at Ghana Ports and Harbours Authority (GPHA), adjacent to the revenue center near the Long Room, also in Community One.
“This new branch will expand the bank’s network to customers and residents in other parts of Tema, especially the residential enclave, and support the bank’s efforts to continue delivering world-class banking services that uphold our Gold Standard of value and excellence, putting our customers at the heart of what we do.”
Mr. Victor Yaw Asante
The commissioning ceremony was attended by clients, customers, staff, and several key personalities, including Honourable Yohane Armah Ashitey, Metropolitan Chief Executive for Tema, and Mr. Alex Asiamah, Chairman of the Tema District of Ghana Institute of Freight Forwarders and CEO of E-Cargo Services. The event included a tour of the branch, allowing clients and customers to interact with the bank’s officials and with one another.
Over its 27 years of operation in Ghana, FBNBank has remained focused on prioritizing its customers and communities. It has strived to achieve this through the value and excellence it contributes to its relationships with stakeholders, particularly its customers.
FBNBank Ghana is a member of the First Bank of Nigeria Limited Group, renowned for its exceptional customer service and stakeholder engagement amassed over its 129 years of operation. FBNBank Ghana currently operates twenty-four (24) branches and three (3) agencies across the country, employing over 500 staff. It offers universal banking services to individuals and businesses in Ghana.
FBN Bank Emerged the Most Profitable By Profit Before Tax
Meanwhile, at the just release 2023 banking report, FBN Bank emerged the most profitable by profit before tax margin with a rate of 22.50 per cent, followed by Société Générale Ghana at 21 per cent, GT Bank at 19.80 per cent, UBA at 13.40 per cent, First Atlantic Bank at 4.2 per cent and Bank of Africa at 3.8 per cent.
The industry’s ROA experienced a steady decline, averaging 2.1 per cent from 2.8 per cent in 2020 to -3.0 per cent in 2022.
Despite a 10.16% increase in total assets from 2021 to 2022, the lower Profit Before Tax Margins resulted in a significant decline in ROA. Several banks that were market leaders in ROAs, such as GT Bank and SCB, experienced declines in 2022 due to decreased Profit Before Tax Margins.
On the other hand, banks like FBN, SG, GT Bank, UBA, and BOA recorded the highest ROAs in 2022, primarily due to impressive Profit Before Tax Margins and lower net impairment losses on financial assets.
A sustainable and increasing ROE over time indicates a company’s ability to generate shareholder value. FBN, SG, GT Bank, and UBA recorded the highest ROEs in 2022, experiencing significant growth in Net Interest Income.
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