Total assets of Kwamanman Bank reach GH¢26.5m

The Kwamanman Rural Bank has been showing impressive performance with its total assets hitting GHȼ26,598,898.00 in year 2015.

Compared with the 2014 figure of GH¢22,944,057.00, it represented an increase 15.93 per cent.

Mr. John Brefo, the acting Board Chairman, who announced this said deposits also rose from GH¢18,105,077.00 to GH¢22,661,285.00 during the period.

He was speaking at the 21st annual general meeting of the shareholders held at Kwamang in the Sekyere Central District.

Mr. Brefo told owners of the bank that investment in treasury bills and other securities went up by 26.59 per cent – climbing to GHȼ5,332,032.00 from GH¢4,212,036.00.

At the same time, it granted loans and advances, totaling GHȼ14,173,689.00 in support of the economic activities of the people in its operation area.

The Board Chairman touched on the bank’s stated capital and said it rose marginally to GHȼ516,704.00 from GHȼ516,168.00.

He encouraged the people to buy more shares to meet the minimum capitalization of the Bank of Ghana.

He spoke of the construction of a new head office building and refurbishment of its branch offices.

Mr. George Annor, the Ashanti Regional Manager of the ARB Apex Bank, urged the directors to continue to strengthen internal controls to protect customers’ money.

He asked that the audit unit was adequately resourced to efficiently perform.

Source: GNA