Atwima-Mponua Rural Bank increases revenue

Toase (Ash), Oct 29, GNA - The Atwima-Mponua Rural Bank at Toase in the Atwima-Nwabiagya district recorded 1.202 billion cedis profit before tax in 2005, up from 945 million cedis in the previous year. The Bank purchased 1,780 tonnes of cocoa, amounting to 15.026 billion cedis in Akuafo cheques during the 2005/2006 crop year, as against 941 tonnes valued at 7.9 billion cedis in the previous crop year, an increase of 89.1 per cent.

Mr Ben Bekoe Yirenkyi, chairman of the Board of directors announced this at the 22nd Annual General Meeting of the Bank at Toase at the weekend.

He said the Bank had established a micro-finance department with the objective of providing a window for petty traders and small cottage industrialists to access banking services. During the year under review, 46 groups, made up of 820 individual clients were formed and a total of 1.818 billion cedis been granted as loans with satisfactory repayment schedules. Mr Yirenkyi said the Bank made a total contribution of 63 million cedis towards education, health, community development and the physically challenged.

He said the beneficiaries included 100 pupils of basic schools in the Atwima-Nwabiagya and Ahafo-Ano South districts, 15 students of five second cycle institutions and Toase Township. The board has proposed a dividend of 400 cedis per share, amounting to 78.69 million cedis as compared with 69.38 million cedis the previous year.

Mr Seth Ankrah, Ashanti Regional Representative of the ARB Apex Bank, commended the Atwima-Mponua Rural Bank for its impressive performance and hoped the high remarkable achievement would spur them on to achieve greater heights. 29 Oct. 06