CEO’s Message


I  am delighted  to present to you the performance of Opportunity International Savings  and  Loans  for the financial year ended 31st December 2016.

First and  foremost  I  must  allude to the fact that the business had its fair share of the unfavorable macro- economic pressures which was characterized by high levels of volatility in the area of exchange rate, interest rate and inflation thereby impacting on cost and the desired ability to generate revenue.

In  spite  of  these  challenges,  I am pleased to inform you that the institution rose  up to the  occasion to deliver yet another  sterling performance through the  effective and  efficient utilization of our human  resources to implement our agreed strategies as  well as the excellent management of our assets and liabilities.

Economic Outlook

During the period under review, the overall macro-economic outlook of the country did not show any clear sign that it was out of the woods. Though it was a bit modest compared to the last three years which was  hit by slowdown  in global growth due  to lower global trade  volumes,  a near collapse  in the  international commodity  market,  and  generally higher levels of risk aversion  from International investors. The past year saw some  marginal level of recovery due to significant tightening of monetary and fiscal policies.

In  the  final  analysis,  this  led  to  some  stability  in  the  country’s  economic conditions  throughout  the year which was evident in the improvement  in the inflation rate to close the year at 15.4 percent down from 17.2 percent, monetary  policy rate at 25.5 percent from 26 percent and a largely stable  foreign exchange rates.

Banking  Environment

In the banking industry, total assets stood at GHS80.9 billion at the end of 2016 with 17.4 percent non-performing loans leading to a provision of about  8.4 percent as bad debts in their books.

Client  deposits  ended  the  year  2016  at  GHS51.4  billion,  growing  by  26.8  percent  with  demand deposits (current and savings accounts) growing more than time or fixed deposits as at the end of the year according to the latest summary  of Macroeconomic and Financial Stability report by the Bank of Ghana.  While demand deposits grew by 22.4 percent, time deposits shot up by 15.5 percent.

Financial Performance

Our institution delivered a strong financial performance in spite of intense competition and a tough operating  environment.  This is evidenced by  a profit after  tax  of GH¢5.56  million compared to GH¢1.87  million in the previous year. Most of our business lines recorded growth, which is reflective of our calculated effort to create  sustainable value and  a focused implementation  of our business strategy. The total asset base of the  Company  grew  by 24% from GH¢155.31 million in 2015  to GH¢192.06 million in 2016.

Customer  deposits  grew  by  26%  to  GHC124.70  million  due  to  cognizant deposit  mobilization effort during the period.  We maintained  a continuous focus on enhancing the quality of relationship management, credit monitoring and  recoveries  to effectively manage the quality of our loan book. That notwithstanding, specific and challenging advances were adequately provided for and recovery measures put in place. Our capital adequacy ratio remained relatively high at 14.85% arising out of our  increased  earnings  in  2016.  We will  leverage  on  our  strong  capital  position  to  sustain  planned future growth of our business.

Operational Performance

By  keeping  abreast  with  the  new  trend  in  banking  to  offer  the  best  of  products  and  services  and convenient  banking to delight our customers, we introduced a mobile solution dubbed ‘Opportunity Mobile’ to serve  our customers. This effectively will enable  customers do all basic  transactions on their phones in the comfort  of their homes and  workplaces without coming  to the banking  halls. The rapid growth in mobile banking enrollment is likely to help the institution reach  out to One Million customers by the  end  of 2020.  This will surely impact  positively on revenue,  through  enhanced efficiency and its consequent reduction  in costs of serving clients and clients accessing us.

Staff  productivity  over  the  period  was  highly  commendable,  considering the  fact  that  there  was  a deliberate  action  to reduce headcount, which did not  affect the  overall productivity as  had  been planned. Staff capacity development remained  largely on  course, with a  number  of staff being promoted into positions  of higher responsibility, and  into leadership, having gone  through  the  mill over the past  years.  Our people  strategy  will continue to focus on attracting  the best  talents  on the market and developing their capacities continually whilst ensuring a high rate of retention to facilitate the achievement of our set targets.


On behalf of the Management, I would like to appreciate our customers for their continued patronage of our products and services and to all stakeholders for your unwavering business relationships and support. Finally, I would like to thank our able employees for their continued loyalty to the Company.

I am positive that with your continued support, 2017 will be a successful year.

Thank you and God bless us all.

how can we help you?

Contact us at any Opportunity International Savings and Loans branch nearest to you for financial advices.