Ms. Victoria Konadu, Chairperson of the Board of Directors, said this represented a 46 per cent increase over the previous year’s figure of GHȼ1,661,111.00.

At the same time total deposit grew from GHȼ4,333,887.00 to GHȼ5,568,606.

She was addressing the annual general meeting of the shareholders in Seikwa in the Tain District.

Ms. Konadu told the owners of the bank that during the period the shareholders fund shot up to GHȼ373,003.00 and said compared with the 2014 figure of GHȼ165,273.00, this showed an impressive growth of 126 per cent.

She said the sharp rise came on the back of shares bought by some strategic investors.

She indicated that the unfavourable economic environment, evident from the high interest rates on government securities had not been helpful to its deposit mobilization drive.

Many depositors preferred to invest in treasury bills and bonds for higher returns, she added.

She said the board and management would continue to ensure adequate internal control measures and best practices to sustain the bank on the path of growth.

Again, she spoke of the bank’s determination as a good corporate citizen to live up to its social responsibility.

Mr. Johnson Asiedu Nketia, the General Secretary of the governing National Democratic Congress and the first General Manager of the Bank, underlined the need for professionalism in its operations.

He told the staff to resist any temptation to engage in fraudulent practices and said customers deposits needed to be protected.

He reminded them to be honest, transparent and professional in their dealing with the customers.

Mr. Joseph Tachie Djan, the President of the Brong-Ahafo Chapter of the Association of Rural Banks, applauded the management for working hard to lift the bank from near-insolvency.

Source: GNA/News Ghana


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