South Akim Rural Bank records profits

The South Akim Rural Bank at Nankese in the Eastern Region made a net profit of GH¢663,957.00 last year as against GH¢550,509.00 in 2010.

The bank also increased its total assets from GH¢14,337,164.00 in 2010 to GH¢18,596,575.00 last year.

Mr. William Kwadwo Boateng, the Chairman of the Board of Directors of the Bank, announced this at the 27th Annual General Meeting of the bank at Nankese at the weekend.

He said the bank had improved upon its quality of service delivery in the face of increased competition through the use of Information Communication Technology (ICT).

Mr. Boateng said the shareholders fund increased from GH¢1,323,581 in 2010 to GH¢1,790,378.00 last year, which included the provision of GH¢230,000,000 for the Development Fund.

He said the bank, which had been a member of the Ghana Club 100 since 2002, was in September last year awarded the 21st position for 2010.

Mr. Boateng said the bank awarded 15 scholarships to students to pursue Senior High School education last year, bringing to 99 the total number of beneficiaries under the scheme.

Mr. Boateng appealed to parents to support their children to achieve the minimum aggregate of 15 for public schools and six for private schools at the Basic Education Certificate Examination to enable them to enjoy the scheme.

He said the bank would continue to pursue staff welfare and human resource development by creating suitable work environment to enhance efficiency and effective performance and job satisfaction.

Mr. Duke Osam-Duodu, the Acting Managing Director of the ARP Apex Bank, in an address read on his behalf commended the bank for the good performance.

He announced that the Apex Bank in collaboration with the Danish International Development Agency (DANIDA) had established a new project to assist Rural and Community Banks in various ways.

Mr. Osam-Duodu mentioned some of the assistance as Rural Finance Wholesale Fund, the Merger Fund, and Capacity Building Support for Staff and Human Resource Development of the banks.**