ARB Apex Bank
ARB Apex Bank
ARB Apex Bank
ARB Apex Bank

The ARP Apex Bank has invested GHC9.7 million over the past one-and-half years to improve Information and Communication Technology (ICT) infrastructure.

The move, according to Mr Kwadwo Aye Kusi, the Managing Director of the ARP Apex, was to upgrade the data systems of all Rural and Community Banks (RCBs) in the country to position them well to operate competitively and spur their growth.

Currently, 137 RCBs with about 665 sites live on the 124 e-Merge banking software.

?We continue to invest in the in the ICT infrastructure in line with our policy to bear all capital expenditure and recover only the recurrent cost from the RCBs?, Mr Kusi said, in a speech read for him at the 25th Annual General Meeting of Nsoatreman Rural Bank at Nsoatre in Sunyani West District.

He said the migration of the Apexlink onto the i-Trans II platform had introduced efficiency into its operations as reimbursements were made on same day basis.

?The third version i-Trans, which is expected to be released soon, would see the extension at the products platform to other financial institutions across the country,? he said.

Mr Kusi said the Apex Bank had also signed an agreement with a service provider for the deployment of the ARC mobile products, a computerized platform, which essentially uses mobile phones to transact banking services.

Some of these banking services include payments, transfers, checking of balances, short messages systems, alerts and other related transactions as well as support ?susu? operations.

This, Mr Kusi said, would not only diversify the RCBs income stream but also increase their profits in order to ultimately maximize shareholders? value.

He said the banking business had become very competitive and risky and advised RCBs to institute a process that would continuously identify measure, monitor and control all forms of risks.

Mr Kusi said the internal audit units of rural banks ought to be strengthened and empowered to assist in the risk management process to guard against fraudsters.

Mr Kofi Agyeman, Chairman of the Board of Directors of the Nsoatreman Rural Bank, said the Bank?s deposit increased by 27 percent jumping from GHC6, 321,720.48 in 2012 to GHC8, 036,999.66 in 2013.

Investment also rose from GHC1, 988,000.00 to GHC3, 312,441.20, an increase of 67 percent in the same period.

The bank?s total assets increased from GHC7, 830,407.76 to GHC9, 942,710.42 a 27 percent increase, while its share capital rose from GHC267, 112.80 to GHC293, 348.43, an increase of 10 percent.

The Bank?s pre-tax profit also rose from GHC206,718.50 to GHC224,094.28 while its advances jumped from GHC2,724,724.07 to GHC3,299,320,20, an increase of 21 percent.

Mr Agyeman said the bank?s scholarship scheme was on course with an amount of GHC7, 299.30 being spent on beneficiaries.

GNA

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