Juaben Rural Bank makes 15.7% increase in profit

The Juaben Rural Bank has posted a profit before tax of GH¢354,049.45 on its operations for 2008.
       
This represents a 15.69 per cent increase over that of the previous year’s figure which stood at GH¢306,017.50.
       
Mr Kwabena Asante-Krobea, the Board Chairman, who made this known at the bank’s Annual General Meeting Asante-Juaben on Saturday said deposits grew from GH¢7.3 million to GH¢8.5 million.
       
Total loans granted loans rose by 35.5 per cent at GH¢5,352,859.00.
       
Mr Asante-Krobea said the loans went to beneficiaries in commerce, transport business, agriculture and small scale enterprises.
       
He said the bank’s performance during the period was impressive, which explained why it was named among the 100 best performing companies at the Ghana Club 100 Award for 2008.
       
Mr Asante-Krobea said as part of its social responsibility, it was sponsoring the education of 22 students at the second cycle and tertiary levels.
       
Nana Otuo Siriboe, Omanhene of Juaben, who chaired the meeting, commended the workers of the bank for their hard work and sense of dedication to duty, which he said, has helped the bank to achieve such remarkable success.
  
He urged the shareholders to increase their shareholdings.

Source: GNA