The Odotobri Rural Bank Limited in the Amansie Central District with branches in parts of the Ashanti region has performed creditably well during the 2012 Annual Reports and Statements Review held at Jacobu.

Board Chairman of the Bank, Johnny Owusu-Boadi at its 26th Annual General Meeting (AGM) held last week said notwithstanding stiff competition from foreign banks in the country, they redefined their strategies considering strength, weakness, and external threats and opportunities mitigating their success.

He gave performance indicators for 2012 as against 2011 as steady progress in all major areas of its operations, this is as follows:

Deposits Mobilization

In 2012 Deposits rose by 42.99%, that is, Ghc 33,845.000 in 2012 as against Ghc 23,669,000 recorded in the 2011 Financial Year.

Investments

Investments in Treasury Bills and other short term securities experienced an increase of 49.78% in the period under review. That is, Ghc 16,100.00 in 2012 as against Ghc10,750.000 recorded in the 2011 Financial Year.

Lending Operations

The bank has extended total loans and overdraft facilities of Ghc 14,280.000 to customers representing an increase of 42.44% over the 2011 figure of Ghc10,750.000.

Dividend

Ghc 288,002.28 paid as dividends to shareholders which 20% of Ghc1,440,011.39.

Community Support

The bank used about Ghc 66,766 of its Corporate Social Responsibility to commission a state-of-the-art community centre.

The Board Chairman appreciated shareholders, development partners including the Bank of Ghana, ARB Apex Bank. The Association of Rural Banks, UNDP, SPEED Ghana and all other wishers who have been part of their successful story.

Source: Kwabena Danso-Dapaah

?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.