Amansie West Rural Bank shows strong growth

The Amansie West Rural Bank continues to show strong growth with its total assets shooting up to GH¢71,759,792.00, last year.

This represents a 28.74 per cent increase over the year 2015 figure of GH¢55,741,559.00.

Mr. Isaac Otchere-Antwi, the Board Chairman, who announced this said the bank also made a profit before tax of GH¢1,608,863.00 on its operations, during the period.

Compared with the previous year’s total of GH¢1,464,556.00, the figure showed a 9.85 per cent rise.

He was addressing an annual general meeting of the bank held at Antoakrom in the Amansie West District.

He said its investments grew from GH¢24,561,816.00 to GH¢29,661,816.00.

At the same time, total deposits hit GH¢54,332,219.00, as against GH¢42,009,431.00 in 2015.

Mr. Otchere-Antwi told the owners of the bank that loans and advances went up GH¢14,871,805.00 to GH¢20,857,599.00.

He added that there was also substantial increase in the share capital – climbing from GH¢1,089,543.00 to GH¢2,551,968.00.

He said being a good corporate citizen, it spent GH¢122,623.00 on corporate social responsibility and that involved support in the areas of education, health and security.

He spoke of the expansion of the bank’s operation through the establishment of a new office at Datano.

Mr. William Bediako Asante, the District Chief Executive (DCE), applauded the bank for its impressive performance and asked that the board and management avoided complacency but continued to work hard to keep it on the path of sustainable growth.

He reminded them about the need to strengthen its internal controls to protect the customers’ money.

Source: GNA