"At Bond Savings and Loans, all directors have signed to the institution's code of conduct which specify what constitute to conflict of interest and bad contract, ensuring that anybody that flouts the code is sanctioned according to their rules", he said.

The Board Chairman was speaking at the company's turn at the 'Facts Behind the Figures' on Thursday in Accra.

Mr Duah said the challenges in the banking sector including closure of some banks were due to lack of proper corporate governance.

He said corporate governance at Bond Savings and Loans was excellent, which has resulted in growth in performance adding that the company's interest margin grew from 6.10 per cent in 2017 to 7.40 per cent in 2018.

Mr Duah said in any institution, it was the board and management that make the difference, because they make decisions for the growth and collapse of the company.

"Since the establishment of the institution in 2008, there has never been any crisis because of its strict adherence to the tenets of banking rules", he said.

He said the company was awarded the 2018 Best Savings and Loans in the country by the Chartered Institute of Marketing, Ghana.Mr Duah said most of their clients have developed and grown with the company, a testimony of their performance in the financial sector.

He said the company, on the way forward plans to expand its services in the retail and consumer banking sector, expand their medium term note programme and engage in electronic banking products and services.

Mr George Ofosuhene, the Chief Executive Officer, Bond Savings and Loans, touching on the company's balance sheet, said total assets was GHC 366.6 million, which had positioned the company to meet maturing obligations.

Mr Ofosuhene said the liquidity ratio was 11.05 per cent, an addition of payroll loans to current products and advances grew by 15 per cent."Loans and advances to clients grew from GHC 202,780,768 in 2017 to GHC 233,283,346 in 2018, with staff loans  amounting to GHC 3,713,871 in 2018 and GHC 2,236,785 in 2017", he said.

Focusing on the key performance indicators, he said the company's capital adequacy ratio grew slightly from 15.25 per cent in 2017 to 15.53 per cent in 2018.On the statement of income, Mr Ofosuhene said the interest income for 2018 was GHC 94,585,967 compared to GHC 82,144,650, while income from lending activities for 2018 was GHC 19,860,130 compared to GHC 20,996,109.