It is my pleasure to welcome you again to Energy Bank. I can vividly recall that at about this time last year you were invited here for briefing in connection with the official opening of the bank then, an event that took place on February 22, 2011. The bank would be a year old come Wednesday, February 22, 2012.

Anniversaries like this are usually momentous and joyous occasions; they also come with deep reflections on successes, failures, challenges, strategies, with insights into the future.  For us it has been one year of fruitful adventure in the Ghanaian banking environment. Although we were officially commissioned on February 22, 2011, real operations did not immediately commence until about April as we needed time to put in place quite a number of facilities and platforms to enhance seamless operations. Despite these initial challenges, let me report to you that we were able to grow total assets to GHc 201 million, deposits to GHc 107 million with handsome profitability as at December 31, 2011. In a few weeks from now we shall have cause to formally release to you the audited results after going through necessary approvals and due process.

Also within this period, we have grown organically from the one branch at the Head Office to three branches. Last November, two additional branches were opened in Tema and Kumasi. To mark our first year anniversary, a fourth branch, the Accra Central Branch in Makola, would be opened on February 22, 2012.

Celebrating our first anniversary with a branch opening to us is exciting. Aside of being a testimony to our commitment of enabling greater access of our customers to our products and services, the location of the new branch is a furtherance of our distribution network strategy aimed at providing the right product mix to the right customer segment at the right place while offering a refreshing banking experience. Makola is noted for commerce; it is a melting pot of sort for trans-border commerce. Having a share of the market is of importance to us. I am using this medium to invite you to the official opening that day.

As we have grown in size, we have also grown in numbers – staff wise. As at today, we have 66 employees in our books. And may I say that aside of drivers, all our staff our permanent staff. We are one of the very few banks if not the only one, with no staff being outsourced. This is keeping in line with our mission of ensuring that our investment benefits Ghanaian economy and the Ghanaian people.

We have widened the scope of bespoke products and services rendered. Aside of the normal deposit accounts, we have special products like the Energy Temple Account, Energy Kid Account, etc. We have started Western Union Collections , ECG, etc. We have entered into strategic alliances with reputable institutions to aid financial transactions across the globe. We have as at today, one of the robust IT platforms to aid seamless transactions. As you may be interested, the bank is looking seriously into the issue of increasing our capital base from the initial GHc 60 million to about GHc 100 million to further put us ahead of competition and to put us in a vantage position to finance big ticket transactions. We shall continue to pursue our organic and inorganic growth strategies to garner a sizable share of the market and the opportunities that the Ghanaian market has to offer as a fast-growing medium-income economy. Talking of organic growth, Takoradi is our next focus; we shall, by the grace of God, be in Takoradi before the end of May. For institutions that may not be able to meet the minimum capital stipulation by Bank of Ghana come December 31, 2012, we are open to discussions with such institutions provided they share similar vision and aspirations with our Bank.

Gentlemen of the Press, permit me to use this occasion to thank firstly our customers for having that faith in us, the employees for leaving comfort zones in most cases to build a new institution from scratch and the shareholders and Board of Directors for their guidance. Bank of Ghana, the regulatory authority, has been very supportive and for this we are grateful. Together, we have worked in partnership and we have remained focused to building a “strong bank based on the timeless principles of loyalty”. With the turbulence going on across the globe with the attendant consequences and challenges, I call for more of this support as we sojourn on in the years ahead.

As we gradually plant our footsteps in the Ghanaian banking landscape with growing confidence, we shall continue to support genuine aspirations of our customers based on the mutual beneficial principle of win-win. Let me seize this opportunity again to reiterate that Energy Bank is a universal bank and not a specialized bank into energy financing only. We are into all the sectors of the economy. As we sharpen our skills in the hope to become the first bank of reference in energy matters, we are at the same time into retail and commercial, corporate and institutional banking focusing on middle and top-end names in those sectors as telecommunications, mining, conglomerates, construction, agriculture, manufacturing, general business, etc. We also bank contractors, distributors, professionals and small scale entrepreneurs. The ‘energy’ in our name is to showcase vitality, strength and vigour with which we render customer service.

I thank you for coming and for your attention.

Sam Ayininuola.