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News & Media

News & Media

uniCredit’s 2015 Financial Performance reflects our growth and potentials –uniCredit CEO

In spite of the challenges of the past year, uniCredit has reaffirmed the strength of its business model to deliver yet another sterling performance as evident in its 2015 financial performance. Speaking during a recent press event, Mr. Samuel Sakyi-Hyde, uniCredit’s CEO, relayed the marked growth in the institution’s performance in the face of the severe power crisis that persisted for most of 2015; and the depreciation of the Cedi during its first half that made for a difficult operating environment.

“The end of the year 2015 saw uniCreditemerge as a profitable institution and a key player in the savings and loans industry with our strong financial performance. This is consistent with our results over the years and is proof of the increasing support of our valued customers in spite of intense competition.” said Mr. Sakyi-Hyde. uniCredit earned a profit before tax of GH¢9.46 million in 2015 compared to GH¢4.26 million in the previous year. The institution also grew its total asset baseby 61.24% during the year from GH¢203.6 million in 2014 to GH¢328.4 million in 2015. “Most of our business lines recorded growth, which is reflective of our deliberate efforts to create sustainable value and a focused implementation of our business strategy.” the CEO added.

The institution’s customer deposits also increased by 49.58% due to gains from its expanded branch network from twelve (12) to eighteen (18) and deliberate deposit mobilisation efforts during the period. In addition, the introduction of new products and services such as its “Eazzlife” consumer asset finance and “Smart Personal Loan“ for salaried workers further broadened its consumer appeal. “We also maintained a continuous focus on enhancing the quality of relationship management, credit monitoring and recoveries to effectively manage the quality of our loan book. This notwithstanding, specific and challenging advances were adequately provided for and recovery measures put in place.” the CEO explained, adding that uniCredit’s capital adequacy ratio remained relatively high at 30.75% arising out of our Tier I funding and increased earnings in 2015.

Speaking briefly on the company’s strategy for 2016, Mr. Sakyi-Hyde commented, “We will leverage our strong capital position to sustain planned future development of our business.” In line with this, uniCredit has successfully launched its electronic banking suite which features proprietary and GhIPSS-enabled ATM transactions throughout the country. Additional branch expansion will also take place throughout the year in order to enhance the convenience with which the institution’s customers’ and the general public transact business with it.

Currently ranked among the top 100 companies in Ghana, uniCredit Ghana Limited has seen consistent growth over the past three years and remains committed to the growth and development of thecountry’s SME sector.