Amanano Bank shows impressive growth

The Amanano Rural Bank showed strong growth with impressive returns on its operations last year, Mr Isaac Kwasi Asante,  Chairman of the Board, has said.

It made a net profit before tax of GH¢711,871.00, representing nearly 25 per cent increase over the previous year’s figure of GH¢569,972.00.

Total assets rose from GH¢14.1 million to GH¢16.3 million with the stated capital, which stood at GH¢596,219.00, hitting GH¢855,649.00.

Addressing the bank’s 30th Annual General Meeting (AGM) at Nyinahin in the Atwima-Mponua District, he said loans and advances shot up to GH¢7.7 million from GH¢5.1 million.

He told the shareholders that 21 per cent of the loans granted went into the agricultural sector.

Transport business, cottage industries and commerce were the other economic activities supported.

He announced plans to open additional mobilization centres as part of the bank’s corporate strategic vision to bring its services to the doorstep of customers.

It had already applied to the Bank of Ghana for permission to open four new business offices.

Mr Asante said as a good corporate citizen it would continue to live up to its social obligation to the people in the areas of education, culture, community development, and supply of social amenities.

It had set up a scholarship scheme to support brilliant but needy students to pursue their academic careers.

Source: GNA