Prudential Bank has for the first time in eight (8) years distributed a portion of profits as dividend to its shareholders.

The bank, with approval from the Bank of Ghana, has paid  0.01698 per share to  its shareholders.

Chairperson of the Board, Mrs. Muriel Susan Edusei, commenting on the payment thanked her colleague Board Members, Management and Staff for their hard work which made it possible for the bank to deliver the impressive operational results of 2021. Mrs. Edusei thanked Shareholders for their support and assured them of the bank’s commitment to continue paying regular dividends to them.

She commented that leveraging on the investment made in the bank in 2019 by Ghana Amalgamated Trust PLC (GAT), the bank embarked on a transformation agenda in the year 2020 to grow its business and enhance its profitability. This refocused approach is no doubt yielding results, and has positively contributed to the remarkable financial results of 2021 which enabled the bank to make dividend payments after such a long period.

The bank continues to improve its financial performance in 2022, building on its 2021 momentum. It has recorded a net profit after tax (PAT) of GH¢61.08million as of 2022 Q2 in comparison to a net PAT of GH¢37.68million as of 2021 Q2, marking a 62.1% increase. This translates into an estimated net profit margin for 2022 Q2 of 23.2% as against 16.8% recorded in 2021 Q2.

The Managing Director, Mr. John Addo, in contributory remarks assured all esteemed customers of the bank’s commitment to continue providing excellent customer service.

The Chairperson of the Board concluded by reaffirming the commitment of the Board, Management and Staff to work assiduously to guarantee future returns to all stakeholders.

Source: Prudential Bank has (thebftonline.com)