Rural Banks urged to increase funds mobilisation

Agona Swedru, Jan 14, GNA - Mr Joseph Addae Owusu, Deputy Manager of Supervision Department of Bank of Ghana, has urged Rural and Community Banks to adopt policies to increase their deposit and investment. He said there was the need for the banks to raise their mobilisation strategies to maximise profit to meet the demands of their customers. Mr Owusu announced this at an end of year dinner organised by the Nyakrom Rural Bank, at Agona Swedru.

He noted that studies by the Bank of Ghana indicated that Rural Banks in the Ashanti Region had bigger deposits and investments than those in the Central Region.

The Deputy Manager said Rural Banks in the Central Region had to work hard and adopt effective mechanism to make their services more reliable to help ease economic hardship confronting the people. He stated that the Bank of Ghana lending rate had gone down drastically and automatically was going to affect their investments and treasury bills and called for hard work from both Board of Directors and Managements of the Banks.

Nana Obaatan Otoo, Chairman of the Board of Directors, said the Bank had decided to provide incentives to the staff to give up their best to increase profits.

He commended the management and staff for their performance and urged them to keep it up. Nana Otoo gave the assurance that the Directors would institute an award scheme for hard working staff next year.