Shareholders of Gomoa Rural bank want a pull out of merger

About 57 shareholders of the Gomoa Rural Bank at Apam, have resolved that the bank should pull out of the merger with two other banks in the district and operate alone.

The shareholders took the decision during the unsuccessful Annual General Meeting of the bank which was characterized by great confusion by some of the angry shareholders on one side, and the Board of Directors of the bank on the other, over the merger of the bank with two other banks.

A spokesman for the angry shareholders, Mr Hayford Edu Quaye, who briefed the press after the meeting, said the Gomoa Rural Bank is viable to operate alone, because it has a total share capital of 161,782.00 Ghana Cedis, while the Gomoa Ajumako Rural bank at Gomoa Afransi has a share capital of 76,160.00 Ghana Cedis.

He said the Gomoa Assin Rural Bank at Gomoa Dominase has a total share capital of 28,031.23. According to him, the Bank of Ghana (BOG) has directed that Community and Rural Banks whose total share capital is less than 500 million Ghana Cedis should merge with others to raise a strong share capital base.

Meanwhile the Gomoa Rural Bank has presented five computers and their accessories to the Apam Senior High School, as its contribution towards the promotion of education in the district.

Mr Peter Bright Amankrah, Assistant Headmaster of the school in charge of Administration, received the items on behalf of the school, and thanked the bank for its kind guesture.