Business News of 2014-05-10

Bosomtwe Rural Bank opens 10th branch

The Bosomtwe Rural Bank Limited at Kuntanase in the Bosomtwe District in the Ashanti Region has inaugurated its Edwenase Wioso branch at a ceremony in Kumasi.

This adds up to 10 the number of branches currently being operated by the bank. The branches are Jachie, Atonsu Bokro, Atonsu Agogo, Dadiesoaba and Atwima Amanfrom. The rest are Ahenema Kokoben, Trede, Kokofu, Kuntanase and the newly inaugurated Edwenase branch.

The Chairman of the Board of Directors, Mr Philip Bondah, acknowledged the tremendous support shareholders of the bank had given the board for the past 32 years when the bank was established. With hard work and commitment, the bank has grown from one branch to 10.

The bank commenced business in 1982 in a rented premises at Kuntanase. “Today, we are most grateful to God and the shareholders. The bank can boast occupying three of its own premises with another four to be ready in the near future at Atonsu-Agogo, Jachie, Trede and Afua Kobi Market,” he said.

The bank can further boast well-carved products that have been made to serve the needs and expectations of its targeted market.

Some of such products are savings account with attractive interests, current account for salaried and corporate bodies, fixed deposits with higher yielding interest for investors, as well as wide varieties of microfinance products for Small and Medium Enterprises (SME).

One other key area that the bank had over the years registered significant achievement in is corporate social responsibility. The bank has provided educational and health materials and assisting in the provision of infrastructure. The security services, especially the police, have had their fair share of the support. Shareholders’ children have been provided with scholarships.

The General Manager of the bank, Noble Richard Prosper Asiedu, said he and his management team would not relent in their effort to continue to improve their operations. He said it was the board’s vision to put up permanent structures for all its branches.

The President of the Ashanti Regional Chapter of the Association of Rural Banks, Dr Nana Akowuah Boamah, commended the board and management of the bank for the tremendous strides the bank had made.