Need to organize regular training for staff of rural banks - Kwapong

Abetefi(E/R), Jan. 02, GNA - Mr Emmanuel Kwapong, Managing Director of ARP Apex Bank has called on Managements of Rural and Community Banks to organize regular training programmes for their staff to equip them with requisite skills to enhance their operations. He said the greatest asset of any organization was its human resource therefore; the Bank of Ghana and Apex Bank would continue to organize training programmes for staff and Directors of Rural and Community Banks in the country. The call was contained in an address read on his behalf by Mr Kenneth Owusu-Twumasi, Head of Human Resource and Administration of Apex Bank at the 10th Annual General Meeting of Odwen-Anoma Rural Bank at Abetifi at the weekend. He urged the Apex Bank to get involved in the recruitment and selection of key personnel such as managers, accountants, project officers, credit officers and internal auditors to ensure qualified personnel were recruited to work for the rural and community banks. Mr Kwapong advised all Boards of Directors, executives, managements and staff of rural and community banks to study and be conversant with all provisions of the new Banking Acts 2004 and Act 673, because sanctions in the law would be enforced.

Mr Emmanuel Kwame Ofori, Chairman of the Board of Directors of the Bank, said the bank increased its investment in Government and Apex Bank securities from 4.5 billion cedis in 2004 to 4.7 billion cedis last year inspite of relatively stable macro economic situation in the country . He said total assets of the bank increased from 12.6 billion cedis in 2004 to 14.6 billion cedis last year, an increase of 16.05 per cent while total deposits increased by 9.94 per cent, from 8.3 billion cedis in 2004 to 9.1 billion cedis in 2005.

Mr Ofori said the bank made a pre tax profit of 336.6 million cedis in 2005 while its share capital went up from 1.3 billion cedis in 2004 to 1.9 billion cedis in 2005 and advised shareholders of the bank to increase their shares to a minimum of 200,000 cedis as proposed by the Board of Directors in 2001 to increase the capital base of the bank. He said the bank paid a dividend of 10 cedis per share to its shareholders and lived up to its social responsibilities by assisting some organizations and communities in education, security and health projects within its catchment area.

Daasebre Akuamoah Boateng II, Omanhene of Kwahu Traditional Area, urged shareholders and customers to save with the bank for assistance from the various government micro-finance assistance being channelled through rural banks. He advised management of the bank to increase and improve the salary and working conditions of its staff to retain them to enhance the bank's performance.