Rural Bank improves performance

The Mponua Rural Bank at Amuana-Praso in the Eastern Region, increased its total assets from GHC9, 799,272 in 2013, to GHC11,630, 462 in 2014, representing 18.7 per cent.

The financial institution also exceeded the GHC300,000.00 minimum stated capital prescribed by the Bank of Ghana by raising GHC472, 625.00 during the period under review.

Mr George Osei Ameyaw, Board Chairman of the bank, made this known at the 21st Annual General Meeting (AGM) of the Bank at Amuana-Praso in the Birim North District.

He lauded the Board of Directors, management, staff and shareholders for their invaluable contributions towards the strong performance.

Mr Kwadwo Aye Kusi, Managing Director of the Apex ARB Apex Bank, urged Rural and Community Banks (RCBs) to commit more resources to operational transformation, especially in the area of Information Communication Technology (ICT).

He said it was about time the RCBs upped the game to prevent the big banks from luring their customers with quality services.

He said as part of measures to improve service delivery, his outfit was in the process of introducing a mobile finance platform for RCBs, which include SMS transaction notification service, electronic ‘susu’ platform and mobile money services.

“We expect the platform to give convenience to customers, as well as create new income stream for RCBs”, Mr. Kusi stated.

He praised the bank for an outstanding performance, despite a drop of 2.3 per cent in profit, saying 19.1 per cent increase in deposits demonstrated public confidence in the bank.

“You are, therefore, to continue to develop innovative and attractive deposit products, to meet the demand of your clientele base and prospective one”, he urged the bank.

He further urged management of the bank to strengthen internal control systems, to ensure that operations were carried out in an orderly manner, consistent with best practices in the banking industry.

“This is to enhance efficiency in service delivery to clients, and keep the RCBs in business in an increasing competitive environment,” he added.