Atwima-Mponua Rural Bank records significant growth in profit

The Atwima-Mponua Rural Bank has recorded almost a one hundred per cent growth in profit between 2020 and 2021, Ms. Phyllis Constance Puttick, the Board Chairperson, has hinted.

According to her, the Bank documented a profit of GH¢549, 501 in 2020 as against GH¢1, 077, 446 in 2021, adding that the feat was achieved through the institution’s improvement in operational processes and strict accountability.

“Following this impressive performance, I am pleased to report that the Board is proposing the setting aside of 25 per cent of the Bank’s net profit for the year for the payment of dividend to shareholders,” Ms. Puttick said.

She added that the period of her stewardship had also seen a cumulative year on year growth of 35.8 per cent in total assets, 84 per cent in short term investments and 42 per cent in deposit mobilisation.

Addressing the 38th annual general meeting of the shareholders at Toase, in the Ashanti region, Ms. Puttick lauded the Management and Board of the Bank for their hard work.

She said the Board was determined to keep the Bank compliant on most of the regulatory benchmarks.

In line with its vision, the authorities had recruited more competent and experienced hands to spearhead its agenda, the Chairperson said, noting that policy documents had been reviewed and new ones introduced to guide every aspect of the Bank’s activities.

On corporate social responsibility, the Bank had embarked on many projects, including support to farmers, as well as the Police to facilitate their work in maintaining law and order.

Source: GNA