National Investment Bank (NIB) on aggressive branch expansion

The National Investment Bank (NIB) is aiming at raising its branches to 64 by 2017 to help serve more businesses and create convenience for customers. It currently has 42 branches with plans to add 22 new ones within the next two years.

The bank’s Managing Director, Mr Ernest Mawuli Agbesi, disclosed this when the bank opened its 42nd branch at Mampong in the Ashanti Region.

He said the opening of the new branch was part of an aggressive expansion in the bank’s operations to help meet the aspirations of customers.

Expansions so far

Last year, NIB opened branches at Ashaiman, Asokwa, Hohoe, Accra, Airport, Parliament House and the Law Court Complex. New ones were also opened in Swedru, Nkwanta, Sawla, Tamale UDS and Mallam. 

The MD said the aggressive branch expansion last year was in line with a corporate commitment to help turn the bank’s fortunes around.

Impressive performance

True to his word, the bank has since chalked up a number of successes, including the payment of dividend to shareholders for the first time in 12 years at its 46th Annual General Meeting (AGM) held last year.

That was the result of an impressive profit after tax of GH¢79.39 million the bank recorded in 2014. The 2014 profit was 106 per cent over the ¢38.52 million profit grossed in 2013.

“Our commitment to growth and complete turnaround as promised two years ago is on course. This has been shown in our sterling performance in 2015 despite the industry challenges,” he said.

Looking ahead, he said the bank was laying emphasis on improving its risk management, credit delivery, work ethics as well as productivity to enhance its operations and corporate image.

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