Atwima-Kwanwoma bank posts GH¢7.19 million profit

The Atwima-Kwanwoma Rural Bank continues to show strong growth, posting a net profit of GH¢7.19 million on its operations, last year.

Mr. Patrick Owusu, the Board Chairman, said this represented an increase of 62.46 per cent over the previous year’s figure of GH¢4.43 million.

Addressing the 33rd annual general meeting of the shareholder at Pakyi-Number-Two in the Amansie West District, he announced that its total assets hit GH¢95.60 million from GH¢74.39 million, during the period.

At the same time, total deposits rose to GH¢72,341,099.81 compared with the 2014’s total of GH¢58,268,027.88.

Mr. Owusu told the bank owners that its investments in government securities grew by 29.21 percent – from GH¢49,034,868.28 to GH¢63,358.605.60.

Loans and advances in support of the economic activities of the people also went up from GH¢15,504,378.50 to GH¢16,242,454.74, he added.

He hinted that an amount of GH¢43,735.00 had been approved to be expended on community development projects as part of its’ corporate social responsibility.

Mr. Alex Kwasi Awuah, Deputy Managing Director of the AEB Apex Bank Limited, applauded the bank for the impressive performance and asked that this was sustained.

He urged the rural and community banks to make sure that they strengthened their internal control and governance systems, for efficient operations.

He again asked that they adequately resourced their internal audit units to effectively perform.

It was also important that they focused effort to improve their credit management systems – to make their loan books healthy.

Mr. Stephen Sarfo-Kantanka, the Supervising Manager, encouraged the shareholders to buy more shares.

Source: GNA