Nsoatre (B/A), April 2, GNA – Nsoatreman Rural Bank in Sunyani West District of Brong-Ahafo, has recorded a net profit of GHC 126,893.33 in 2011 as against GHC101,632.00 the previous year, an increase of 24.85 per cent.

At the close of 2011 fiscal year, total deposits of the bank stood at GHc4, 882,758.52 as compared to GHC4,037,517.36 in 2010.

Mr. Kofi Agyemang, Chairman of the Board of Directors, who disclosed these at the bank’s 23rd annual general meeting at Nsoatre at the weekend, said the banks’ investments increased from GHC1, 051,000.00 in 2010 to GHC1, 418,000.00 in 2011, and had total assets of GHC6, 248,181.64, under the fiscal year.

He said the bank has been granted permission to pay dividends to qualified shareholders for meeting the current share capital requirement.

Mr. Agyemang said in 2010, GHC19,886.42, representing 20 percent of the bank’s profit was voted for the payment of share dividends at the current dividend-per-share rate of GHC0.02.

He said in 2011, a total dividend of GHC11, 125.67 had been declared, 10 percent of the total profit after tax at the rate of GHC0.025.

Mr. Agyemang appealed to customers and shareholders to increase their shares, to strengthen the bank’s share position and to avoid uncertainties.

He said competition in the banking industry was become keen “any serious-minded bank in the country that belittles the effect of competition may be preparing to edge itself out”.

Mr. Agyemang commended  customers who had repaid their loans, but cautioned defaulters to repay “to avoid our adoption of all possible means for recovery”.

He said the bank had not abandoned its  scholarship scheme for loyal customers’ children in Senior High Schools.

Mr. Daniel Hinneh, Vice Chairman of the Board, has appealed to the public to do business with the bank’s branches in Techiman, Sunyani, Jinijini, Chiraa and Yamfo, to enable them easily access loan.


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