Nwabiagya Bank makes giant strides

Nwabiagya Rural Bank continues to show consistent strong growth with its assets hitting GH¢45.8 million as the end of year 2012, up from the previous year’s total of GH¢36.4 million.

Deposits also shot up from GH¢28.3 million to GH¢35.1 million during the period.

Nana Owusu Sarfo Anwona, the Board Chairman, in an upbeat assessment of the bank’s performance at its 25th annual shareholders general meeting at Offinso, said its investments stood at GH¢13.5 million.

At the same time loans and advances to customers to expand their businesses grew from GH¢17.2 million to GH¢22.9 million.

He announced to the bank’s owners, a pre-tax profit of GH¢1.9 million, about GH¢560,000.00 increase over that of the preceding year. Shareholders are therefore to receive dividend payments of GH¢0.026 per share.

They are not only interested in making money but are equally concerned about improving the living conditions of the people in communities where they operate.

It is on the basis of this that they have been alive to their corporate social responsibility, spending GH¢75,106.00 on school and health projects as well as scholarship awards to brilliant but needy students in pursuit of academic careers.

Nana Sarfo Anwona said the bank’s impressive performance was due to prudent management and best practices.

Nana Wiafe Akenten III, Omanhene of Offinso, hailed the directors and management for their success story and asked them to continue being alert to sustain the progress of the bank.

Mr Kwabena Adjei, Vice President of the Association of Rural Banks, underlined the need to adequately motivate the staff.

An office complex of the bank, built at Offinso, was later jointly inaugurated by Nana Wiafe Akenten and Emeritus Metropolitan Catholic Archbishop of Kumasi, Most Reverend Peter Akwasi Sarpong.

Source: GNA