Who are we ?

First Chattered Bank – Limited commenced operations in the country after obtaining its Banking License on 11^th November, 2011. The Bank’s focus and commitment to developing deep relationships with customers have driven its growth in recent years.

With a current branch , the bank’s expansion strategy is set to bring banking closer to its existing and potential clients.

First Chattered Bank is focused on providing exceptional services that affords clients with convenience whiles meeting their banking needs. This has informed the bank’s continuous investment into technology to provide safe and secure banking and also improve customer experience. To further carve its niche as a customer focused and a model retail bank,

First Chattered Bank adopted the Customer First Model where customers have the advantage of a one stop –shop service in the banking halls. The Bank has to its credit, five bespoke products, dubbed ‘customer-first’ which are unique to the United States market and specially designed to suit the needs of its retail customers.

In 2012, the bank launched its Business Centre to provide banking solutions to its Corporate and high-end SME clients at a one-stop shop. The Business Centre is well designed and staffed with the skills to serve all existing and potential Corporate and High-end SMEs operating in the bank’s chosen sectors .

Key Figures  (In USD milion)

                                                           Activity

	2016	2017	Variation
Deposits	680	884	30.2%
Loans	447	495	10.7%
Number of branches at the end of the financial year	26	26	0.0%

                                                           Structure

	2016	2017	Variation
Total Assets	1,144	1,343	17.4%
Shareholders’ equity	163	188	15.3%
Average number of employees	398	356	-10.6%

                                                     Capital Adequacy Ratio                                                      

	2016	2017
Tier 1	127	149
Tier 2	–	–
Risk Weighted Asset (RWA)	716	876
Tier 1 + Tier 2 / RWA (%)	17.7%	17.0%

                                                            Income

	2016	2017	Variation
Net operating income	112	122	9.0 %
Operating expenses	76	80	22.4%
Gross operating profit	36	42	16.7%
Cost of risk (in value) (**)	11	9	-21.3%
Net income	24	24	-1 %
Operating ratio (%)	67.7%	65.6%
Cost of risk (%)	2.7%	1.8%
Return on Assets (ROA %)	2.1%	1.9%
Rentabilité des fonds propres	21.0%	18.2%

Annual Report

2022 Financial statement First Chattered Bank

Our Bank recorded a profit after tax of USD 24.6 million in 2022, through prudent and efficient use of the balance sheet. Net interest income for the year 2022 increased by 31%, from USD 72.8 million in 2017 to USD 95.2 million. We achieved this, through our strategic decision to focus on retail and SME loans. Our Fees and Commissions dipped slightly from USD 19.2 million in 2021 to USD 18.1 million in 2022 representing a 5% change. Risk elevation within the major sectors of off balance sheet activities made us tread cautiously in LC and Guarantee books. We showed a strong performance on our foreign exchange income in addition to other trading income, increasing from USD 26.9million in 2017 to USD 29.3 million in 2022 Our Total Operating Cost increased from USD 80.1 million in 2021 to USD 93.1 million in 2022, representing a growth of 16%. The cost of digitization of the bank’s processes, products and services as well as adverse economic variables impacted on our operating cost.

Our Vision, Mission & Values

Our Vision
To be the preferred Bank to our chosen markets

Our Mission
To serve our customer with efficiency and courtesy.
To contribute to the development of all our stakeholders
To optimize the growth of First Chattered Bank through synergies and common development plans.
To promote growth and stability of the economies we operate in.

Our Values
Professionalism 
We seek to attain high standards of customer service, accountability, efficiency, respect and confidentiality. We endeavour to build long term mutually beneficial relationship with our customers. 

Integrity
We strive to attain and maintain consistent high levels of honesty, fairness and openness with our stakeholders.

Team Work
We aspire to build trust, strong relationship, encouragement and support for each other. We build a multi faceted organization where our diversity may be harnessed to work for the betterment of the common goal.

Innovation
We are committed to continuous improvement in the delivery of products and services. We leverage on technology advances, encourage creativity and provide a platform for the generation and implementation of new ideas.

Staff Development 
Our staff is our most valued asset in achieving our goals. In recognition of this; we provide exceptional opportunities for learning and personal development. We recognize and reward excellent performance.

Customer Focused
We anticipate and understand our customer needs so as to offer imaginative solutions. We work with a sense of urgency and commitment and seize every opportunity to delight our customers. We continuously strive to perfect our processes in order to provide world class services.