Bawjiase Area Rural Bank declares net profit of GH¢571,626

Bawjiase Rural Bank made a net profit of GH¢571,626.00 on its operations last year, an increase of GH¢222,484.00 over the previous year’s figure.

Total assets during the period also rose to GH¢7,403,771.00 from GH¢5,524,212.00.

Mr. Emmanuel Osei, the Board Chairman, announced this at the 20th annual general meeting of the bank held at Bawjiase in the Central Region.

He informed the shareholders that deposits went up by 24.4 per cent from GH¢4,102,813.00 to GH¢5,142,988.00.

At the same time, its share capital jumped to GH¢550,000.00 from GH¢249,148.00.

Mr. Osei described the bank’s performance as impressive and said this had been achieved through prudent management practices.

They are now constructing an ultra-modern office building, work on which is about 90 per cent complete.

He expressed optimism that the project would be ready by the end of the year.

Mr. Emmanuel Asiedu-Mantey, a former Deputy Governor of the Bank of Ghana (BOG), praised the bank for the giant strides it is making.

He said records at the BOG and the ARB Apex Bank show that it ranks among the best managed and most vibrant rural banks in the country.

Mr. Asiedu-Mantey urged the Board to maintain the strict internal control system to sustain its growth.

Source: GNA