TALKING POINT FOR HON. MINISTER FOR DIVIDEND PRESENTATION BY NATIONAL INVESTMENT BANK LIMITED

Mr. Chairman,
Managing Director,
Managers,
Invited Guests,
Ladies and gentlemen, and
Members of the media

Let me first welcome you all to this morning's presentation and also express my appreciation to you for coming.

Gratitude:
Ladies and Gentlemen, let me congratulate the Board, Management and staff of National Investment Bank Limited (NIB) for declaring and presenting a cheque of GH¢1,721,165.65 representing dividend due Government on its shareholding on year 2007 accounts.

Mr. Chairman, we congratulate NIB for the improvement and the consistency in paying dividend to its shareholders over the past years. We are most grateful for this and wish you more success in all your endeavors.

We are happy to note that in spite of the numerous challenges such as reduction in earning margins and increased competition in the Banking sector, in 2007, NIB's operating performance significantly improved, registering an increase in after tax profit by 35% over that of year 2006.

Mr. Chairman, It is gratifying to also know that in 2007 NIB established a Joint Venture Capital known as Bedrock Venture Capital Limited to provide equity and debt financing for small and medium enterprises.

NIB also in collaboration with the Ministry of Transportation and BHF Bank imported twenty-two (22) Volvo trucks for road contractors to improve the efficiency in their operation.

EXPECTED DIVIDEND:
Mr. Chairman, Ladies and gentlemen, in the 2008 budget, Government projected to collect a total of GH¢15.060 million as dividend from both the State Owned Enterprises (SOEs) and the Joint Venture Companies (JVCs) representing returns on Government's equity investments. T 6 date, Government has received an amount of GH¢7,574 million. The amount received represents dividend payments from nine (9) out of thirty -one (31) JVCs and two (2) out of twenty -four (24) SOEs.

Appeal
To ensure that dividend projected in the 2008 budget is realized, we wish to appeal to all SOEs/JVCs who have not as yet paid dividend to Government to take immediate steps to do so.

We also wish to take this opportunity to appeal to all Government agencies CEPS, VAT, IRS and MDAs who receive moneys on behalf of Government to ensure that these funds are promptly lodged into the Consolidated Fund.

Conclusion:
Mr. Chairman, in conclusion let me assure you that Government continue to maintain a strong and stable macro economic environment to enable all sectors play their respective roles in the building of a good economy for this country to become a middle income economy.

It is our hope that NIB will continue to strive to be a strong, reliable and profitable bank.

Thank you for your attention.