BANGE shareholders Ordinary General Meeting

The Board of Directors of the Equatorial Guinea National Bank (BANGE) called shareholders to the Ordinary General Meeting on Saturday 21st April, to analyse and debate matters on the agenda, regarding the fidelity and management of the bank’s services.

With the aim of providing solutions to those concerns, around seven points were covered, including the approval of the minutes from the Ordinary General Meeting of 22nd April 2017; the reading of the report by the Board of Directors; the analysis of the annual accounts and company management; the proposal to apply the results of the 2017 economic period, and the participation of BANGE as shareholder in the new Gepetrol-Seguros business, among others.

Allow me to begin my speech by looking to the future and pointing out how we are preparing to be a benchmark bank for our clients, employees and shareholders. Our country, in the CEMAC subregion, African and the world. We are clear, and in order to be successful it is not sufficient to meet expectations; we must surpass them”, explained Ebe Mba, in his speech.

Through contracting products and services offered by our institution, as an example, clients involved with the monetary service are at 10,500. As a consequence of this greater tie, the income of our clients reached 44,343 million Franco CFA at 31st December 2017. In addition, we are one of the most profitable banks, with a Return on Equity (ROE) performance of 32%, and a Return on Assets (ROA) of 1,32%, given that today we have over 94, 470 clients, and we have the opportunity to increase and contribute towards their progress and that of their communities”, indicated the president of the Board, who also stated that the institution had increased its users and services with respect to the previous period”.

Following the speeches, the shareholders praised the management carried out by the bank, and encouraged them to continue to work with the same effort to face the challenges of an increasingly more difficult environment.

The Secretary of State, Charged with the General State Treasury, Milagrosa Obono Angue, ratified the support and commitment of the State for the strategy of the Bank, which allowed for an inclusive business growth, generating value for shareholders, which at the same time contributing to the bankisation of our country.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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