Rural and community banks in Ghana to be networked by 2012

The Millennium Development Authority (MiDA) is supporting the Association of Rural Banks (ARB) Apex Bank to computerized and network all Rural and Community Banks (RCBs) in the country by 2012.

The aims, is to make RCBs provide efficient and easily accessible financial services to customers who are mostly in rural communities.

Mr Eric Osei Bonsu, Managing Director of ARB Apex Bank, who made this known, said so far, 31 RCBs have been fully computerized and connected to the project.

He was speaking at the 17th annual general meeting of the Kwamanman Rural Bank, at Sekyere Kwamang in the Sekyere Central District on Friday.

Mr Osei Bonsu said under the project, 770 computers and their accessories as well as 403 generators and other equipment have been supplied to rural and community banks and their agencies throughout the country.

He charged management of rural banks to be vigilant and guard against computer fraud, corruption and other wastages in order to win the confidence of their customers and shareholders.

Mr Newman Dapaah, Chairman of Board of Directors, said the bank recorded profit before tax of GH¢151,666 in 2009 as against GH¢218,862 recorded in 2008. This represents a decrease of 31 per cent.

He attributed the drop in profit to failure of customers to pay back loans and unanticipated challenges posed by the computer software the bank was using.

Source: GNA