Asantehene honours Atwima-Kwanwoma Rural Bank

Pakyi II (Ash), Nov. 2, GNA - Otumfuo Osei Tutu 11, the Asantehene, has honoured the Atwima-Kwanwoma Rural Bank with a platinum award for its contribution to development projects in the region. The bank placed 19th in this year's Ghana Club 100. The Rev. Paul Frimpong-Manso, Chairman of the Board of Directors of the bank, said this at the bank's 26th annual general meeting at Pakyi Number=

Two in the Amansie West District.

He said the bank's profit before tax dropped from GH¢913,209 in 2007 t= o GH¢786,440 in 2008. "Cost of computerization and networking took a toll on the finances of t= he bank", the Chairman said adding however, that total assets rose to GH¢22,178,657. That of the year 2007 was 19,704,525. Deposits increased to GH¢17,373,235 while loan portfolio went up t= o 12,508,427 as against GH¢10,803,529 in 2007. The bank's shareholders funds increased from GH¢2,416,550 in 2007 to GH¢2,670,604 in 2008. Touching on the bank's social responsibilities, the chairman said the ba= nk was financing the construction of the Atwima-Kwanwoma Senior High School. The bank has so far committed GH¢210,844.63 into the construction of 10 classrooms. The Rev. Frimpong-Manso said the bank continues to offer assistance= to needy students from the Junior High School to enter the Senior High Schoo= l. The bank has now increased its scholarship of GH¢80.00 to GH¢15= 0 per student.

Three students who won the bank's radio quiz competition last year recei= ved their scholarship award at the meeting. The Chairman told the meeting that the bank was assisting in the construction of a Nurses' Duplex at the SDA Hospital at Dominase in the Amansie East District at an estimated cost of GH¢14,433.50 and the bank= has so far provided GH¢10,000 towards the construction.