Akim Bosome Rural Bank makes strides
The name Akim Bosome Rural Bank Limited, just like many other identities, may not be popular to many people across the country. But this is one bank which, after a turbulent three years of its establishment, has weathered the storm to become one of the leading rural banks in the Eastern Region and Ghana at large.
Established in October 1983 with six workers, the bank now boasts almost 120 permanent and non-permanent workers. It is located at Akim Swedru in the Birim South District in the Eastern Region and has branches at Oda, Ofoase, Kade, Akroso, Manso and Asamankese.
The Akim Bosome Rural Bank plays a very significant role in financial management in its catchment area where the rural community is not technologically developed.
"Our broad vision is to become the preferred rural bank by 2019 through a fast growth in fund mobilisation and by providing a customer centred service in fund mobilisation, relying on a well-motivated workforce, using appropriate technology to provide maximum satisfaction for customers and the community in which it operates," the General Manager of the bank, Mr Edwin Quartey, told the Daily Graphic in an interview.
In view of that, he said, the bank had drawn up a strategic and corporate plan, spanning 2015 to 2019, to guide it to achieve optimal performance. The plan includes the setting up of a measurable standard in getting the banking business — deposit mobilisation and trading at profit — achieved to customer's satisfaction.
The bank, in its statement for 2014, made a profit after tax of GH¢368,949, as against GH¢227,832 the previous year, while its total assets also increased from GH¢11,671,973 to GH¢14,263,166 within the same period. Total shareholders' fund went up to GH¢1,370,239 from GH¢933,320.
"Although we have not finished the financial year yet, we can say we are almost exceeding our target," Mr Quartey said.
That, according to him, was as a result of excellent customer care by the staff of the bank, "since we believe that without them we cannot exist. So we go to every length to ensure that our potential customers and regular customers alike are treated as kings and queens".
Like other banks, deposits by customers constitute a challenge, with regard to the credit and loans portfolio, loan repayment and the activities of micro-finance companies.
Some micro-finance companies promise huge interests as high as 400 per cent but at the end of the day they swindle their customers.
Mr Quartey, therefore, urged people in the bank's catchment area to be wary of such micro-finance companies and rather do business with the Akim Bosome Rural Bank Limited.