[ 2016-10-25 ]

Atwima-Kwanwoma bank posts GH¢7.19 million profit
The Atwima-Kwanwoma Rural Bank continues to show
strong growth, posting 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 the 33rd annual general meeting of the
shareholder at Pakyi-Number-Two in the Amansie
West District, he announced 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
percent – 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.

He hinted that an amount of GH¢43,735.00 had been
approved to be expended on community development
projects as part of its corporate social
responsibility.

Mr. Alex Kwasi Awuah, Deputy Managing Director of
the AEB Apex Bank Limited, applauded the bank for
the impressive performance and asked that this was
sustained.

He urged the rural and community banks to make
sure that they strengthened their internal control
and governance systems, for efficient operations.

He again asked that they adequately resourced
their internal audit units to effectively
perform.

It was also important that they focused effort to
improve their credit management systems – to
make their loan books healthy.

Mr. Stephen Sarfo-Kantanka, the Supervising
Manager, encouraged the shareholders to buy more
shares.

Source - Citifmonline

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