Anum Rural Bank maintains growth

The Anum Rural Bank in the Eastern Region has maintained a strong footing in the financial space during the year under review 2017.

It’s Profit Before Tax increased by 23.95 per cent, comparing GH¢619, 295 posted in 2016 to GH¢767, 617 in 2017.

Net interest income swelled from GH¢4,631,098 to GH¢5,550,091; an increment of 19.84 per cent, whiles its total operating income went up from GH¢5,758,255 to GH¢6,879,717, representing a 15 per cent rise.

This came to light at the Bank’s Annual General Meeting held at Anum in the Asougyaman District.

The Bank’s total assets also grew from GH¢22.61 million to GH¢26.93 million, appreciating by 19.11 per cent.

Its total deposits for 2017 stood at GH¢19.13 million, up by 18.89 per cent, as against the GH¢16.09 million it held in the previous year.

Shareholder dividend however dipped for the second year running, from 0.50 pesewas to 0.45 pesewas.

Mr Daniel Adu Appia, Chairman of the Board of Directors blamed the decrease in dividend on the business terrain, which he said, remained burdened by tax increments and high utility tariffs.

He assured that nonetheless, all other indicators read positive, and that, the Shareholders had resolved to among others, revalue and increase the Bank’s shares.

Source: GNA