NIB Launches 55th Anniversary
The National Investment Bank (NIB) has launched its 55th Anniversary Celebration.
The Anniversary themed: ’55 Years of Growing Ghanaian Businesses,’ would involve activities like public lectures, health walk and fun games, as well as dinner dance, awards night and thanksgiving service.
Speaking at the launch yesterday, Dr John Kweku Asamoah, the Managing Director of the Bank, in his welcome address, said 55 years was worth celebrating as it was an opportunity to take stock and chart the way forward.
He said the Bank had undergone institutional, managerial and financial restructuring over the years, which had made it a formidable force in the banking industry.
‘Four years ago, NIB was almost a lost brand in the industry. In 2015, the Bank set one main objective, which was to turn around the fortunes of the Bank and make it more profitable.
‘We set out to restore hope among our shareholders, regulators, customers, service providers as well as employees,’ he said.
In that regard, Dr Asamoah said, the Bank instituted a three-year strategic plan from 2015-2017 to fast-track growth and to stay competitive and meet customers’ expectations.
He said the Plan had chalked tremendous successes, which was evident by a stronger brand in the banking industry.
Vice President, Dr. Bawumia, who was a special guest at the launch, in his speech said for the banking system to transform, there is the need to roll out national identification database to uniquely identify individual in the country.
He said the database had become imperative in view of the high interest rate of banks, which was hovering around 31 and 29 per cent and crippling many businesses.
According to him, the situation had been created due to the banks’ inability to easily identify persons by where they live, thereby compelling them to offer loans at a higher risk premium.
NIB was established on March 22, 1963 by Ghana’s First President Osagyefo Dr Kwame Nkrumah as a development bank to offer financial support to businesses.
The Bank currently has 52 branches and agencies across the country and expected to open three new branches by the end of this month.
Source: GNA
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