Akyempim Rural Bank makes profit

The Akyempim Rural Bank made a net profit of 307, 564 Ghana Cedis in 2012 as against 138,179 Ghana Cedis in 2011.

Col. Rtd Kinsley Kwame Nyame, Chairman of the Board of Directors of the bank, made this known at the 28th Annual General Meeting (AGM) of the bank held at Gomoa Dawurampong in the Central Region.

He said the bank’s total deposits increased from 6,883,802 Ghana Cedis in 2011 to 8,337,250 Ghana Cedis in 2012.

The chairman said the bank granted a total of 5,168,282 Ghana Cedis in loans and advances to 6,487 customers in the areas of agriculture, transport, Education, building, cottage industries, micro-finance and others as against 4,424,633 in 2011.

He said the bank’s investments increased from 1,400, 000 in 2011 to 1,600,000 Ghana Cedis in 2012, while its total asserts also grew up from 1,000,000 Ghana Cedis in 2011 to 10,646,714 Ghana Cedis in 2012.

Col. Rtd Nyame said the share capital of the bank has been increased from 150,000 Ghana Cedis to 300,000 Ghana Cedis to meet the new requirement of Bank of Ghana (BOG) for rural and community banks.

He appealed to the shareholders to buy more shares to increase the financial position of the bank.

According to the Chairman, the board recommended payment of 76,884 Ghana Cedis as dividends to shareholders.

Mr. Maxwell Donkoh, acting Head of Banking Operations, ARB Apex Bank said the Akyempim Rural Bank placed second in profits out of the 21 rural banks in the Central Regional after Bawjiase Area Rural Bank.

Mr. Donkoh commended the bank for increasing its capital and urged share holders to buy more shares to strengthen the financial base of the bank.

He charged the Board to ensure constant training of the staff to improve efficiency and effective operation.