South Akim Rural Bank makes GH¢1.2m net profit in 2012

The South Akim Rural Bank at Nankese in the Eastern Region made a net profit of GH¢1,286,866.00 last year as against GH¢663,957.00 in 2011 which represents 94 per cent increase.

The bank also increased its total assets from GH¢18,596,575.00 in 2011 to GH¢26,462,973.00 last year.

Mr William Kwadwo Boateng,  Chairman of the Board of Directors of the Bank, announced this at the 28th Annual General Meeting of the financial entity at Nankese.

He said the bank had improved upon its quality of service delivery in the face of increased competition through the use of Information Communication Technology .

Mr Boateng said the shareholders fund increased from GH¢1,790,3783 in 2011 to GH¢2, 657,357,352.00 last year.

He said the bank, which had been a member of the Ghana Club 100 since 2002, continues to sustain its membership and that in September last year it was awarded the 33rd position for 2011.

Mr Boateng said last year the bank awarded 10 scholarships to students to pursue senior high school education , bringing to 109, the total number of beneficiaries under the scheme.

He appealed to parents to support their children to achieve the minimum aggregate of 15 for public schools and six for private schools at the Basic Education Certificate Examination to enable them to enjoy the scheme.

Mr Duke Osam-Duodu,  Acting Managing Director of the ARP Apex Bank, in an address read on his behalf, commended the bank for its good performance.

Source: GNA