We continued with our stated vision of creating value for all our stakeholders by recording a notable performance in 2018 in relation to 2017 on a number of key performance indicators.
The Bank recorded a 30% growth in total assets moving from GH¢5.4 billion in 2017 to a little overGH¢7.0 billion. Operating income increased to GH¢690 million from
GH¢523 million in 2017; representing a 32% growth.
Furthermore, the Bank recorded a 79% increase in profit before tax of GH¢242 million in 2018 compared to GH¢135 million for 2017 due to lower provisioning , lower
funding costs, improved interest margins, amongst others.
Our deposit base also increased by 13% to GH¢4.5 billion buoyed by our innovative deposit mobilization campaigns such as the Switch & Smile as well as through transaction floats.
– Board Chairman
FBL 2018 Annual Report by Fuaad Dodoo on Scribd
