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Business News Thu, 24 Mar 2005

ARB APEX Bank to enhance Cottage Industry

Assin Fosu (C/R) March 24 GNA -ARB Apex Bank, is to train project officers of rural banks in cottage industry to enable them assist communities in their catchment areas, especially in the youth, to enhance their living standards.

The project officers would therefore, be trained in income generating skills like bee- keeping, mushroom cultivating and livestock rearing.

The Managing Director of the ARB Apex, Mr.Eric Kwapong, Announce this in a speech read for him, at the 20th Annual General meeting of the Akoti Rural Bank at Assin Fosu on Monday.

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Mr. Kwapong told the board and shareholders that although the Bank Assets rose from 4.7 billion cedis in 2002 to 9.4billion cedis in 2003,more still needs to be done.

Mr. Bennedict Kingsley Addei, chairman of the board of directors said the bank's profit, after tax for 2003 was 301.5 million cedis as against 148.5 million cedis in 2002 with loan and overdraft, increasing from 882.5 million cedis in 2002 to 2.9 billion in 2003.

Mr. Karikari Apau, Assin North District Chief Executive assured the bank of the assembly's continuous support and appealed to shareholders to ensure that they seek appropriate redress to their grievances.

Source: GNA
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