Afram Community Bank to establish more branches

Mr. Jeffery Konadu- Addo, the Board Chairman of Afram Community Bank has hinted that the bank would soon open branches in commercial areas to generate more income.

Speaking during the 36th Annual General meeting for stakeholders at Tease in the Kwahu Afram South District, he said the bank's branches are mostly situated in rural communities and thereby affecting the bank's deposits mobilization.

He said in view of this, plans are far advanced to establish more branches at Konongo in the Ashanti Region, Abetifi and Anyinam in the Eastern Region to bring its services to the doorstep of its clients.

Mr. Konadu- Addo said these are commercial towns and was hopeful that the act would enable the banks to increase and enhance its profit level.

Making reference to the bank's profit between 2017 and 2018, he said that although there was a decrease in the overall profit, it was encouraging and urged shareholders to purchase more shares to enable them to meet up with any possible increment of capital that the Bank of Ghana (BOG) may require in the near future.

Mr. Konadu- Addo said granting of loans to deserving customers saw a marginal increase from Gh¢8,410,637 in 2017 to Gh¢14,875,798 in 2018 representing 76.8 percent increase.

He urged recalcitrant loan defaulters to settle their indebtedness to enhance the bank's liquidity situation.