Tano-Agya Rural Bank holds AGM

Dadiesoaba (B/A), Dec. 21, GNA - Tano-Agya Rural Bank made a net profit of 106 million cedis in 2002-2003 compared to 37 million cedis loss the previous year, Mr Mark Owusuansah, Interim Management Committee Chairman of the Bank, has announced.

He was speaking at the fifth Annual General Meeting (AGM) of the Bank held at Dadiesoaba in the Asutifi District of Brong Ahafo Region. He attributed the success to effective management and customer commitment.

Mr Owusuansah announced that the Bank would provide bursaries and scholarships to brilliant but needy school children of its shareholders and customers next academic year.

He said a modest amount of 10 million cedis had been set aside to begin the project and the amount would increase with time. Mr Owusuansah said the Bank would intensify its funding of income-generating activities in the area to enable the youth to go into viable ventures.

A representative of the ARB Apex Bank, Mr Yaw Sarpong announced that the Apex Bank had plans to establish five more offices in the country.

He said a programme to computerize all rural banks in the country in three years would begin next year.

The Dadiesoaba Nkosuohene and Guest of Honour of the occasion, Nana Obeng Amoako Gyampah urged people in the Bank's catchment area to patronise it by buying more shares and saving with the Bank to enable it to grow.

He lauded the performance of the IMC and expressed the hope that it would continue its good work to uplift the Bank. Nana Gyampah purchased 500 shares valued at five million cedis when shares were offered for sale at the meeting.

The six-member IMC was later inducted into office as the substantive Board of Governors under Mr Owusuansah.

Performing the induction, the President of the Brong-Ahafo Regional Branch of the Association of Rural Banks (ARB), Mr Wiredu Peprah noted that the Bank could only assume an enviable character if the Board was accorded the necessary assistance by customers and communities in its catchment area.

He urged the Board to be guided by transparency and accountability in order to enjoy the confidence of its customers.