Ghanaian rural banks’ assets exceed GH¢800m – Bank of Ghana

The total assets of the 135 Rural and Community Banks (RCB) in the country is GH¢875.82 million as December 2010, the Bank of Ghana (BoG) says.

The figure represents 39.82% increase compared to the total assets it recorded in 2009.

A Ghana News Agency report August 29, 2011 cites Mr Boyd Donkor, an Assistant Director, Banking Supervision Department of  the BoG announcing this during the 21st annual general meeting of shareholders of the Adansi Rural Bank at Fomena.

According to the report, Mr Donkor indicated that loans and overdrafts during the period also stood at GH¢333.69 million while deposits came to GH¢682.13 million, recording 26.96% and 48.24% increases, respectively.

The RCB chalked this success of growth amidst fierce competition from the commercial banks and the proliferation of other players, including the savings and loans companies, finance houses and microfinance institutions, he said.

By Ekow Quandzie