Apex Bank to support the engagement of graduates

The Apex Bank has designed a policy to support Rural and Community Banks (RCBs) to engage young university and polytechnic graduates to further their education.

Mr Eric Osei-Bonsu, Managing Director of ARB Apex Bank, made this known at the 21st Annual General Meeting of the Awutu Bawjiase Area Rural Bank at Awutu Bawjiase.

He said the bank has decided to honour the payment of salaries of graduates on attachment to the rural banks for the initial period, adding that such graduates must come from the catchments areas of the banks.

He encouraged all Rural and Community banks to take advantage of the programme to help reduce the unemployment of graduates in the country.

Mr Osei-Bonsu said the Apex bank has signed an agreement project with the Danish International Development Agency (DANIDA) to support the Rural Banking industry.

He said the project is made up of three components which include rural finance wholesale fund, the merger fund and capacity building support for staff of RCBs and Apex Bank to improve quality services to their clients.

He said the fund would be domiciled at the Apex bank to provide qualifying criteria for accessing the loan facility for the programme.

Mr Emmanuel Osei, Chairman of the Board of Directors of the Bank, said the bank made profit of GH¢643,035 in 2010 as against GH¢618,460 in 2009.

The Chairman said the total deposits of the bank increased from GH¢5,142,998 in 2009 to GH¢6,544,507 in 2010, adding that assets also rose from GH¢7,403,771 to GH¢89,353,950, showing an increase of 25 percent.

Mr Osei said the bank granted loans and advances totaling GH¢4,738,371 in 2010 as against GH¢3,662,331 in 2009.