ProCredit Savings and Loans Company Limited started operation on the 2nd of July, 2002 after it obtained a non-bank financial institution license with registration number 97,519. under the name Sikaman savings and loans company. In the 8 years of operation in Ghana, ProCredit SLC has and continues to offer excellent customer service and a wide range of banking products.
In our credit operations, we focus on lending to very small, small and medium-sized enterprises, as we are convinced that these businesses create the largest number of jobs and make a vital contribution to the economies in which they operate.
For the past 3 years ProCredit has continuously provided affordable financial services to the unbanked and the underbanked population of Ghana. Both the number and volume of our portfolio have more than doubled and we have rolled out several financial products that are tailored to satisfy the financial needs of our customers.
In 2009, despite the effect of the credit crunch on the financial industry, we recorded a net profit after tax of GHS 3.7 million (USD 2.6 million). The company achieved a return on equity (ROE) of 28% as compared to 9% in 2008. We maintained a sound capital adequacy ratio of 28%, which amply exceeded the regulatory requirement of 10%. In 2009, our loan portfolio grew by 22.7% and amounted to over GHS 31.7 million (USD 22.1 million) at the end of the year. Deposits were up by 40%, increasing to GHS 40.6 million (USD 28.3 million). Thus, we were able to continue financing the entire loan portfolio with client's deposits.
For a full version of our financial statement and our targets Click Annual reports
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