Rural Bank’s Profit Grows by 62.46%

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The Atwima-Kwanwoma Rural Bank in Ghana continues to show strong growth, recording a net profit of GH¢7.19 million on its operations, last year.

Mr. Patrick Owusu, the Board Chairman, said this represented an increase of 62.46 per cent over the previous year’s figure of GH¢4.43 million. Addressing an annual general meeting of the shareholder he revealed that its total assets hit GH¢95.60 million from GH¢74.39 million, during the period.

At the same time, total deposits rose to GH¢72,341,099.81 compared with the 2014’s total of GH¢58,268,027.88. Mr. Owusu told the bank owners that its investments in government securities grew by 29.21 per cent – from GH?49,034,868.28 to GH¢63,358.605.60.
Loans and advances in support of the economic activities of the people also went up from GH¢15,504,378.50 to GH¢16,242,454.74, he added.

An amount of GH¢43,735.00 had been approved to be expended on community development projects as part of its’ corperate social responsibility.
Mr. Alex Kwasi Awuah, Deputy Managing Director of the AEB Apex Bank Limited, lauded the bank’s impressive performance. He urged the rural and community banks to make sure that they strengthened their internal control and governance systems, for efficient operations.
He advised, rural banks to adequately resource their internal audit units to effectively perform.

“It is also important that banks focus effort to improve their credit management systems – to make their loan books healthy.” Mr Awuah said.
Mr. Stephen Sarfo-Kantanka, the Supervising Manager, encouraged the shareholders to buy more shares.

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