Managing audit firm as administrators

Managing peopleuniBank is a tier one financial services provider which was incorporated in 1997 as a financial services provider but commenced banking services in January 2001, focusing on meeting the banking needs of small and medium-sized enterprises (SMEs) and those of individual customers. In 2009, the bank began offering Internet banking and mobile banking.The stock of uniBank is privately held. The detailed shareholding in the company stock is not publicly available at the moment.

As of May 2017, uniBank maintained Fifty-five branches Sponsorship On 7 November 2013, uniBank became the first indigenous and wholly owned Ashanti bank to sponsor the Ghana national football team – The Black Stars. This sponsorship agreement between the bank and the Ghana Football Association is a three-year deal worth 1.2 million dollars.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

The deal was hailed by Kwesi Nyantakyi, President of the GFA and was considered timely as the team was preparing for their final phase of the 2014 World Cup in Brazil. The bank per the agreement will pay the Ghana Football Association 400,000 dollars per year until 2015.On the 20 March 2018, the Bank of Ghana appointed KPMG an audit firm as administrators for the uniBank .

Emmanuel Akrong, who is the author of Asset Quality Performance of Banks in Ghana, the book that predicted the collapse of at least eight banks, has claimed “Unibank was borrowing to finance its loans” before its takeover by Bank of Ghana.UniBank was one of nine banks identified after the asset quality review exercise undertaken in 2016, to be significantly undercapitalized with a CAR of 4.75%.13The bank, in a statement released by the Governor of BoG, persistently suffered liquidity shortfalls and consistently breached its cash reserve requirement.

14KPMG, announced as administrators of the Bank will have six months to manage the bank after which it will revert to an unnamed private organization.15OverviewuniBank (Ghana) Limited was incorporated as a private company in December 1997 to operate as a bank. It is a wholly owned Ghanaian bank authorized to undertake a broad range of banking Services. The Bank opened its door to customers in January 2001. Our VisionTo be the leading and preferred Bank offering comprehensive financial solutions to our chosen customers (SME and Personal Banking markets) in a professional, caring, responsive and profitable way. Our Mission• Provide the best value for our customers• Create an excellent working environment for our employee development and growth• Enhance shareholder value; and• Be socially responsive to our communities Shared ValuesFlexible• Minimal bureaucracy• Adaptive to changing needsCaring• Customer delight• Personalized serviceVibrant• Energetic• IngeniousTeam• Will to win• One-ness of purpose• StrengthOur core values are worthy of our organization and we believe we should incorporate them as anchor points in everything we do in the Bank.

These values provide us with a means of not only guiding but also evaluating our operations, our planning and our vision for the future. Awards Summary• Customer Care – Six time winners• Advisory Services – Four time winners• Fast Growing Bank – Three time winners• Short-Term Lending – Two time winnersSocial ResponsibilityuniBank (Ghana) Limited is a caring bank. The Bank appreciates the contribution and support that it receives from the community that it operates in. And in return, it ensures that it gives back to society, some of its gains as a socially responsibility corporate entity. As a good corporate citizen, uniBank (Ghana) Limited, has never shirk its responsibility to contribute meaningfully to the development of society and therefore have undertaken many timely social intervention activities to assist the needy, vulnerable and the deprived in Ghana thus contributing our quota to the sustenance of the environment and the community at large.

Key Corporate Social Responsibility Objectives• To ensure that uniBank is seen as a socially responsible organization;• To support communities in which uniBank operates in with the needed help in cash or in kind.• Our ultimate desire is to use any corporate social responsibility activity as an opportunity to grow and perpetuate the uniBank brand.We believe that the continued trust and patronage of the people within the community in which uniBank operates has contributed to our sustained growth and profitability. uniBank views the community in which it operates as asset that is worth investing in and nurturing since it in turn brings the bank business. uniBank’s contribution in this area, thus, makes good business. We believe in upholding community development projects that would allow uniBank to play a meaningful role in the communities in which it operates. uniBank holds the belief that it depends on the community to conduct its business. In this regard, our areas of focus shall be towards the promotion of;• Education;• Health and Sanitation;• Youth Dev