Assessment of Nyakrom Rural Bank

Mr Joseph B. Clottey, Head of Banking Supervision Department of Bank of Ghana, on Monday said the Nyarkrom Rural Bank's deposits of 2,487.104 million cedis in October 2001 increased to 3,718.904 cedis in October 2002.

Speaking to the staff of the Rural Bank, he stated that loans and other forms of assistance to customers have risen from 961.970 million cedis to 1.80.091 million cedis during the period under review.

Mr Clottey said investment declined from 1,542,879 million cedis to 1,424.001 million within the same period.

Dr Samuel Dufu, Chairman of the Board of Directors of the Rural Bank, said the Bank declared 258 million cedis as profit for 2001.

He expressed regret that the financial institution disbursed a total amount of 259,290,000 cedis being Poverty Alleviation Fund of the Agona District Assembly but only 42,352,000 million cedis have been recovered.

Dr Dufu appealed to defaulters to repay the amount to enable other people to benefit from the assistance.