ABii National Savings and Loans to expand

ABii National Savings and Loans Limited would continue to open more branches in strategic locations throughout the country to bring their services to the doorsteps of their increasing customers.

Mr Godfred Osei-Boakye, Managing Director of ABii National, said the financial entity was established in September 2011 with a provisional license to operate.

Mr Osei-Boakye, who was speaking at the weekend during the official launch of ABii National in Accra, said the vision of the financial institution was: “To be the most desired indigenous Bank, partnering with our customers to unlock their financial potential and be seen as the key to excellent banking.”

He recounted that after the official approval of a full license, in February last year by the Bank of Ghana, the financial institution launched into operations in the following September at its Avenor premises, which housed both a branch and the head office.

He said ABii National now had six branches at Avenor/head office, Abossey Okai, Darkuman-Kokompe, Kasoa, Mallam Atta, and Adum – Kumasi, while the seventh branch in Takoradi would be on board soon.

“ABii National aims to become a first class universal bank of choice by deploying the best personnel and technology to deliver excellent banking services to all customers and increasing shareholders value.”

He said all the six branches were fitted with State of the Art Automated Teller Machine (ATMs), with an offsite ATM at the Korle-Bu ATM Farm.

“After two months of operations and with one branch, ABii managed to close the year 2013 with a deposit of GH¢ 3.9m and a loan portfolio of GH¢ 308,000.00.

“Our current deposit position is GH¢ 17.8m while loans and advances is GH¢ 10m, with Non-Performing Loans ratio (NPL) of one per cent,” he stated.

Mr Osei-Boakye said the Company currently boasts of a strong balance sheet size of GH¢ 28m, with a current stated capital of GH¢ 10m, declaring that this was well in excess of the GH¢ 7m capitalization requirement by the Bank of Ghana.

He said plans were advanced to increase the Company’s stated capital to GH¢ 15m before the Bank of Ghana announces the implementation date for all existing Savings and Loans Companies to meet the new capital requirement.

He said ABii’s services and product are tailor-made, to suit their chosen market niche, being the micro businesses such as table-top traders or “apampem store”, individuals, artisans, kayayes, market women, kiosk businesses, drivers and their mates, and individual depositors.

“We will equally partner with the small and medium enterprise businesses,” he said. “Our range of products such as Asetenapa, ABii Cheque & Save, ABii Save, ABii Royal Account, ABii CorpSave, ABii Current Account, ABii Clearing Advance, ABii Group Loans, ABii Somu Loans, ABii Speed Save and the many other ABii products are varied to satisfy the exact needs of each of our customers.”