PROFILE OF THE TRUST BANK LIMITED

THE BANK

The Trust bank (TTB) was incorporated on 3rd October 1996 and commencedbusiness on 14th October 1996 to provide universal banking services to its valuedcustomers.Operating for a decade, TTB has undergone a lot of strategic transformations to become more competitive in its chosen markets.

The Trust Bank is highly dedicated to serving and assisting its customers, with domestic and foreign-related activities, in their roles as exporters, importers, manufacturers, intermediaries, investors or private individuals. By means of its close working relationship with its principal foreign and local shareholders/partners, the bank provides a bridge between Europe and Ghana.

Locally, the bank also draws upon its dedicated team of local product specialists supported by the recognized Knowledge and expertise of the Fortis group in the area of Corporate Banking, Private Banking, Correspondent Banking, Merchant Banking and Financial Markets.

The majority of TTB’s customer value is provided by Small & Medium size Enterprises, the corporate segment, the Middle-class Individual as well as a selected group of institutions (bank and non-bank). Since they provide the core of our activities, TTB concentrates its managerial efforts and available financial means on growing and expanding these core businesses.

LOCATION AND ADDRESS
Head office:

Reinsurance House
68 Kwame Nkrumah Avenue Adabraka
P. O. Box 1862
Accra – Ghana, West Africa

Tel. : +233 – 21 – 222407
                               230403
                               230416
                               240049 –52
Fax : +233 – 21 – 240056/9

Website      : www.thetrustbank.com.gh

E-mail         : trust@ttbgh.com

Date of Incorporation: 3rd October 1996

BOARD OF DIRECTORS

Albert D. Osei (Chairman)

Isaac Owusu-Hemeng (Managing Director)

Thomson Kuduo Abu-Bakr Bibilazu (Director)

B. A. M. Zwinkels (Director)

W. O. Agbenyega (Director)

Michael Jacquemin (Director)

Kojo Okai Andah (Director)

Charles Obeng-Inkoom (Secretary)

MANAGEMENT BOARD

Isaac Owusu-Hemeng         (Managing Director)

Larry Yirenkyi-Boafo          (Deputy Managing Director)

Asare- Boakye Yiadom       (G M, Risk Management)

Nat Akainyah                      (G M, Operation & Systems)

Charles Obeng-Inkoom       (Company Secretary)


OUR MISSION, VISION & VALUES
Our Vision

• To be the leading financial service provider in our target markets.
• To provide flexible financial solutions tailored to our customers’ needs.
• To think globally, act locally combing the various strengths of our network
  partners and shareholders.

Our Mission

• To grow, manage and protect customer’s business-& financial
  assets.
• To serve the customer better and faster.
• To conduct business in an ethical & responsible manner.
• To create sustainable shareholder value.

Our Values

• To be reliable, today and tomorrow.
• To be listening & responsive.
• To be innovative & efficient.
• To be transparent & honest

SHAREHOLDING STRUCTURE

Share Holding Institution	% Shares
Social Security and National Insurance Trust (SSNIT)	61.14
FMO	10.00
COFIPA	13.50
African Tiger Mutual Fund	06.00
Ghana Re-Insurance	09.36
Total	100

The Social Security and National Insurance Trust (SSNIT), the single largest pension fund in Ghana, is the single largest shareholder of The Trust Bank. Other shareholders include: Ghana Reinsurance Company Limited, Holding COFIPA (a Paris-based investment company owned by West African businessmen), The African Tiger Mutual Fund (an investment company registered in Ghana) and FMO (The Netherlands Development Finance Company).

DELIVERY CHANNELS

Currently TTB has fourteen outlets located as per the table below:

NUMBER OF EMPLOYEES

Year	2007	2006	2005	2004	2003	2002	2001
Number	????	276	266	216	196	189	158

NB
As at November 1996 the number of employees was 117

BRANCH NETWORK

Year	2007	2006	2005	2004	2003	2002	2001
Number	15	13	13	11	10	10	10

FININCIAL HIGHLIGHTS

For the year (Cedi million)	2003	2004	2005	2006	2007
Total Income	8.72	13.12	15.42	19.06	25.61
Net Operating profits 1	4.58	7.03	7.93	9.02	12.28
Profits before tax	3.59	5.95	6.79	7.80	10.54
Net Profits	1.94	3.71	4.53	5.61	8.08
Shareholders’ Funds	4.73	7.15	10.09	13.74	19.80
Total Deposits	39.17	50.90	57.09	70.83	109.78
Total Assets	62.43	89.79	98.24	123.04	219.68
Capital Adequacy  Equity	11.10%	12.61%	12.07%	13.20%	19.80%
Cost to Income (excluding Depreciation)	47.40%	43.80%	43.80%	49.92%	48.18%
Return on Average	46.10%	62.50%	52.50%	47.05%	48.20%
Dividend	0.09	0.13	0.16	0.20	0.20
Dividend	0.19	0.37	0.45	0.56	0.81

1 Before Bad Debt Provision & Depreciation
2 Excluding Depreciation
3 Required Minimum – 6%

ELECTRONIC BANKING

Since its establishment the bank has continuously introduced bespoke products and services to meet the needs of its customers. TTB was the first to introduce Automated Teller Machine (ATM’s) to provide 24-hour banking services to its customers in the Ghanaian Banking Industry.

All 15 existing outlets of the bank are networked, offering its customers the kind of On-line Real Time banking service, which enables customers to transact business conveniently at any branch nearest to them. The effectiveness of this service, in its real sense, is unmatched in the industry.

THE CUSTOMER AT THE HEART OF TTB’s BUSINESS

The Trust Bank (TTB) has vigorously pursued the ambition of becoming a preferred specialist bank providing excellent quality customer service to our target customers. We focus our efforts and resources on developing partnerships with our Corporate, Commercial, Retail and Institutional customers, invigorating our selling proposition and growing the activity where we have a competitive advantage. By focusing on our core strengths and skills, we continue to develop our business by investing in our people, in growth opportunities and partnerships to achieve improved returns over time.

This objective is underpinned by a multi-faceted strategy:

Excellent customer service delivery at attractive income levels: Customer
satisfaction is at the core of our business. We have positioned ourselves to become the preferred bank by differentiating ourselves from the competition in the way we deliver our services. Having completed most of the restructuring projects, our efforts and energies are focused on improving our customer care delivery.

Developing a “lean operations” mindset: Throughout TTB, we continuously work hard at identifying opportunities to reduce waste and non-productive costs, that is: all costs that have no direct bearing to satisfying our customers are eliminated and this contributes significantly to making us competitive in the market place.

Building strong and performing system infrastructures: Next to performing
operational processes, we need strong and performing system infrastructures to effectively serve our customers wherever they are, even at home. The current IT architecture and equipment configuration of our business is being evolved accordingly.

Enhancing performance and risk management systems: Over the past years, we have significantly upgraded the risk management framework of the bank with emphasis on the credit delivery system (Credit Risk Management), operational risk environment (Operational Risk Management), anti-money laundering system (AML) and know your customer (KYC) and incorporating these into an integrated
Management Information System (MIS). We are continually striving to achieve the highest compliance standards.

Customer Focus

With the implementation of the new operational structure the bank now operates along four main customer affinity groups with the view to providing our valued customers with tailor-made financial products & services to meet their individual/group needs. This customer focus operation is driven by a cross-border commercial strategy in serving our Ghanaian and international customers active in Ghana.

TTB's core activities are structured along the following businesses:

• Our Commercial and Consumer Banking strives to optimise the
  conventional commercial banking services while providing professional asset management, business advisory and investment services with the support of in-house and outhouse specialists. With our distribution channel of 13 networked outlets, covering the main population areas of Ghana, we offer an easy accessible “proximity banking” services.
  
  
• As a Corporate Banker, TTB assumes its role as a first-rate supplier of finance and advisory services in close co-operation with the corporate finance skills of Fortis Bank’s European network. The core of our customer portfolio is made up of large and medium-size enterprises, both domestic and international operators.
  
  
• The (financial markets) dealing room and its sales/trading specialists are playing an increasingly active role as the Bank for Institutions. TTB’s Institutional Banking team targets a considerable number of institutions within the financial and (non)-governmental domain. It is developing specific capabilities in complementary areas of activity: money market and foreign exchange instruments, credit facilities, fund management, advisory
  services.
  
  
• The main focus of the Retail Banking team is to identify the retail banking needs of our customers and fashion out innovative solutions in a way that makes sense to the customers. We have in place several customer-friendly outlets manned by multi-talented professionals to guarantee the customers first class personalised banking solutions at all times.