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FIRST CAPITAL PLUS POSTS PHENOMENAL GROWTH RATES
posted on: 18th May, 2012
Audited financial results indicate that First Capital Plus, a Savings and Loans company has recorded phenomenal growth rates. Operating profit before income tax increased from GHC 312,474 in 2010 to GHC 88,774,061 at the end of 2011 representing an increase of 2,739.9 percent.
Interest income which drives profitability in the financial services sector grew from Gh¢7,018,451.00 in 2010 to Gh¢31,153,327 in 2011 representing 343.8 percent increase whilst Net Interest Income also increased from GHC 3, 819,864 in 2010 to GHC 20,711,384 in 2011 representing an increase of 442.2 percent.
The Chief Operating Officer (COO) of First Capital Plus, who disclosed this to the Quarterly Digest said the company mobilized deposits to the tune of Gh¢96,932,958 in 2011 as compared to Gh¢36,067,287.00 in 2010 representing an increase of 168.7 percent.
According to the COO, FCP’s exceptional achievements were made possible by "our core values of Professionalism, Reliability, Integrity & Trust, Speed & Accuracy anchored by God-Centredness in our business operations".
The CEO also stated that sound management policies, innovative and solid IT backbone, strategic long term relationship with clients and deep-seated understanding of customer needs have also played key roles in the company’s phenomenal growth.
FCP’s positioning is based on "seeing lives" as opposed to "seeing customers" and as such we are genuinely interested in the welfare and wellbeing of our clients. "This positioning also means that we treat our customers delicately and offer free professional advisory services to help clients manage their businesses and finances. All of these factors have culminated in making FCP a powerful force in the industry despite the fact that it is barely three years old," he stated.
Mr. Mensah also took the opportunity to assure customers and stakeholders that despite the company’s phenomenal growth rates, FCP will not rest on its oars, but it will continue to evolve and innovate in its quest to consistently offer the best of customer-centric solutions.
First Capital Plus (FCP) is a wholly-owned Ghanaian Savings and Loans Company that was established in October, 2009. First Capital Plus is the first financial services company in Ghana to introduce an SMS banking solution that makes it possible for customers to deposit cash into their accounts 24/7 through its Speedbanking SMS solution. Currently, FCP also offers one of the highest fixed deposit rates on the market.
Apart from the numerous banking solutions that FCP offers, it has recently introduced new Consumer Banking solutions for both customers and non-customers. Some of the new solutions include; Capital Smart Loan for salaried workers and entrepreneurs, Auto Plus loans to help in the acquisition of automobiles, Capital Church Credit to help religious Institutions to finance their projects and activities, EduPlus Credit for Registered and accredited educational institutions and their staff.
Currently First Capital Plus has ten branches and it is poised to add ten new branches by the end of 2012 and continue its rapid expansion as it positions itself to leverage on the skills of its highly qualified staff and IT to develop more customer-centric solutions in its quest to expand nationwide and also enter the African, Asian, North American and European markets.