Akyempim Rural Bank boosts profit

The Akyempim Rural Bank made a net profit of GHc307, 564 in 2012 as against GHc138,179 in 2011.

Col. Rtd Kinsley Kwame Nyame, Chairman of the Board of Directors of the bank, made this known at the 28th Annual General Meeting (AGM) of the bank held at Gomoa Dawurampong in the Central Region.

He said the bank’s total deposits increased from GHc6,883,802 in 2011 to GHc8,337,250 in 2012.

The chairman said the bank granted  a total of GHc5,168,282 in loans and advances to 6,487 customers in the areas of agriculture, transport, Education, building, cottage industries, micro-finance and others as against GHc4,424,633 in 2011.

He said the bank’s investments increased from GHc1,400,000 in 2011 to GHc1,600,000 in 2012, while its total asserts also grew up from GHc1,000,000 in 2011 to GHc10,646,714 in 2012.

Col. Rtd Nyame said the share capital of the bank has been increased from GHc150,000 to GHc300,000 to meet the new requirement of Bank of Ghana (BOG) for rural and community banks.

He appealed to the shareholders to buy more shares to increase the financial position of the bank.

According to the Chairman, the board recommended payment of 76,884 Ghana Cedis as dividends to shareholders.

Mr. Maxwell Donkoh, Acting Head of Banking Operations, ARB Apex Bank said the Akyempim Rural Bank placed second in profits out of the 21 rural banks in the Central Regional after Bawjiase Area Rural Bank.

Mr. Donkoh commended the bank for increasing its capital and urged share holders to buy more shares to strengthen the financial base of the bank.

He charged the Board to ensure constant training of the staff to improve efficiency and effective operation.

Source: GNA