Prudential Bank Limited distributes portion of its profit to shareholders

Prudential Bank Limited, has for the first time in eight years, distributed a portion of its profit as dividend to its shareholders. 

With the approval of the Bank of Ghana, ¢0.01698 per share was paid to shareholders.

The Chairperson of the Board, 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 to pay regular   dividends to them. 

She said leveraging 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, she said, was no doubt yielding results and had 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 of ¢61.08 million as of 2nd quarter of 2022 in comparison with a net profit after tax of ¢37.68 million as of the 2^nd quarter of 2021, marking a 62.1% increase.

This translates into an estimated net profit margin for the 2^nd quarter of 23.2% as against 16.8% recorded in 2^nd quarter.

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.

The Managing Director, John Addo, assured all esteemed customers of the bank’s commitment to continue to provide excellent customer service.