The Standard Chartered Bank (Stanchart) has assured customers that it has adequate liquidity that will allow it remain in business no matter how much the Bank of Ghana will require as the new minimum capital requirement for banks.

The central bank has long said it is going to raise the minimum capital requirement from the current GH¢120million set in 2012, to a yet to be announced figure, in what it says is an attempt to make the banks capable of taking on big ticket transactions.

Speaking with the media at the bank’s Annual General Meeting, CEO, Mansa Nettey, said Stanchart is resourced enough and has made provisions to meet any minimum capital requirement set by the BoG.

“Our capital adequacy ratio is above 30 percent and so we are very well capitalised. So, in the event that Bank of Ghana asks banks to increase the capital, we will do so. We are well capitalised; very liquid,” she said.

“We have always had this under consideration. So, we will not be taken by surprise if tomorrow the Bank of Ghana increases the minimum capital because we already have the resources to do it… I have always expected the Bank of Ghana to go beyond GH? 200 million.

“The banks must have capacity to undertake big deals which, today, are done by the foreign banks. So, is not a bad thing,” Chairman of the Bank, Ishmael Yamson, added.

The bank announced a profit of GH?224,511 for the year 2016, representing a 239.4 percent increase over the previous year’s figure of GH?66,148.

Its operating income also increased from GH?531 million to GH?621 million, a 17 percent jump.

Operating expenses decreased by 15 percent, from GH?227 million to GH?194 million, as a result of cost efficient measures implemented throughout the year.

Impairment charge recorded was also below the previous year’s figure of GH?212 million, by 62 percent.

Profit before tax was also GH?346 million, representing 279 percent growth compared to GH?91 million in 2015.

Earnings per share of the bank grew by 256 percent, to GH?1.92, from GH?0.54 percent in 2015.

Commenting on what contributed to the bank’s phenomenal performance, Mansa Nettey alluded to prudent strategies.

“2015 was a very difficult year for Stanchart. The external environment was quite harsh. We were faced with a lot of challenges. One of the key strategies was to focus on restructuring some of the impaired facilities. So, we worked very closely with our clients… and we were able to recover a significant amount of the impaired loans,” she said.

“We continue to focus on the strategic asset growth, and we focused on ensuring that our balance sheet was robust. We invested quite a bit in our digital platform. There are a number of things we have done on our digital space. We upgraded our financial markets and transaction banking platform,” she added.

Additional innovations, she said, will be rolled out to efficiently engage clients across digital channels, adding that, the bank will continue investing in staff and put clients at the heart of everything it does