Gomoa-Dawurampong Rural Bank Makes Profit

The Akyempim Community Bank with its headquarters at Gomoa-Dawurampong in the Central Region made a net profit of 223.1 million cedis after paying corporate tax of 20.2 million cedis to the state in 2001.

Out of the profit, 67 million cedis has been allocated for the commencement of constructional work on the bank's permanent office complex estimated to cost more than 100 million cedis.

These were contained in an annual report read by Mr E.F. Anno, Chairman of the Board of Directors at the bank's 17th shareholders meeting at Gomoa-Dawurampong.

Mr Anno said during the period under review, the bank injected 47,630,000 cedis into crop, poultry and fish production, cottage industry 42,100,000, education 245,600,000 cedis, building construction and maintenance 80,650,000 cedis, food marketing 50,300,000 cedis and transport 56,200,000 cedis.

He said out of the 180 million cedis allocated to the bank under the IFAD scheme, 109 million cedis had already been disbursed to a number of farming groups in the district.

The remaining 70,900,000 cedis has been earmarked for other groups like fishmongers, soap manufacturers, soya bean cultivators, vegetable sellers and artisans.

Mr Anno advised shareholders to increase their shareholdings to strengthen its working capital.

Mr Mensah Adjei, Deputy Manager, Banking Supervision Department of the Bank of Ghana (BOG), Miss Joyce Aidoo, Gomoa District Chief Executive, and Mr Charles Pinkrah of the Apex Bank who took turns to address the meeting,

called for prudent banking practices to enable the bank to meet the expectations of the rural people.