UT Bank Records GH¢188m Interest Income

Prince Kofi Amoabeng

Prince Kofi Amoabeng
Prince Kofi Amoabeng, Chief Executive Officer (CEO) of UT Bank, has disclosed that the bank achieved 40 percent growth in its net interest income last year.

He said the achievement was as a result of the growth of the bank's loan book.

Speaking at the Annual General Meeting (AGM) of the bank in Accra, Mr. Amoabeng said 'the growth in our net interest income remained strong year-on-year, rising by 40 percent to GH¢188 million mainly as a result of the growth in our loan books'.

He said non-funded income growth was equally impressive as it grew by 23 percent to GH¢53 million in the year under review.

Explaining further, Mr. Amoabeng intimated that the bank continued to invest towards the improvement of its e-business platforms in order to enrich customer service offering.

He disclosed that UT completed its migration to the VISA platform and now offers customers a wide range of products including debit, prepaid and Youth Cards.

Joseph Nsonamoah, Chairman of the Board, in a message read on his behalf, said in spite of the challenges in the macro-economic environment, which negatively impacted on the bank's financial performance, UT remains resolute in its efforts to achieve its long-term vision of redefining banking.

By Jeffrey De-Graft Johnson