Tuesday, 7 May 2013

NIB Goes International Market To Raise GH¢250m!!!!!!!!!!!!

The International Investment Bank (NIB).

The National Investment Bank Limited Bank (NIB), Ghana’s first development bank, which is celebrating its fiftieth anniversary, has announced plans to raise a whopping GH¢250 million from the international market this year.
The move would enable the bank to finance huge capital projects, especially, in the oil and gas industry, construction, and mining.
To this end, NHTC Limited, a pioneer investment banking firm in Ghana, is being contacted to lead the bank to raise the above-mentioned capital.
The Managing Director of the NIB, Dr. Percival A Kuranchie, made this known at a thanksgiving service to draw down the curtains of activities earmarked to celebrate the bank’s fiftieth anniversary in Accra.
He assured customers and other stakeholders of the bank that when the capitalisation is arrived at, the bank would be on top of the country’s banks’ ladder.
For the third year in succession, the bank’s total operating income for the year increased. For the year-ended 31st December 2012, total operating income increased by 30.7% to GH¢95.0 million, from GH¢72.6 million in 2011.
The bank also recorded a profit after tax for the year 2012 of GH¢11.6 million. This figure was an increase of 53.37% over the 2011 performance of GH¢7.58 million. The balance sheet of the bank also continued to strengthen as shareholders’ funds grew by 19% to GH¢100.2 million in 2012, from GH¢84 million in 2011.
Established in March 22, 1963, the National Investment Bank Limited was the first development bank in Ghana to promote and strengthen rapid industrialisation in all sectors of the Ghanaian economy.
NIB Limited now operates as a universal bank in focusing on development/commercial banking activities.
NIB Limited has undergone management, institutional and financial restructuring, which has strengthened the organisation, and it now has 27 branches nationwide.
NIB Limited has, in the past, participated in foreign lines of credit, which were administered by the Bank of Ghana to meet term loans and working capital needs of the bank’s customers.
Dr. Kuranchie stated: “We play a leading role in developing a number of highly successful industrial projects in Ghana, through equity and debt financing. Some of these are Nestlé Ghana Ltd., Nexans Kabelmetal (Ghana) Ltd., Merchant Bank (Ghana) Ltd. and Total Ghana Ltd.”
He used the occasion to pay glowing to Ghana’s first President, Dr. Kwame Nkrumah, for setting up the bank, as well as pioneers of the bank, for their contribution which led to the growth and development of the NIB.
Dr. Kuranchie also thanked the bank’s loyal customers for the trust and confidence reposed in the management and staff, by transacting businesses with them.
He assured all and sundry that in the next 50 years to come, the bank would continue to serve them with the right products and services.
In a sermon, the Leader and Founder of Grace Chapel International, Reverend William Dafeamakpor, said in the year of its jubilee, there must be restoration in the NIB to enable its cross the next years.
He, therefore, urged the staff to tap into the bank’s 50 years, and feel proud to belong to the NIB family. Mr. Dafeamakpor prayed for three-fold blessings for the bank.

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