Bogoso rural bank records one billion cedis profit.

Bogoso, Nov 21, GNA - The Bogoso Rural Bank recorded a pre-tax profit of over 1 billion cedis for the 2002/ 2003 financial year, Nana Edu Amanfo, the Chairman of the Board of Directors, said at the bank's 15th annual general meeting.

The occasion also coincided with the 20th anniversary celebrations of the bank and the election of a new board of directors to replace the Interim Management Committee (IMC), whose one-year term expired in October this year.

The Bank of Ghana (BOG) appointed the IMC after the shareholders had dissolved the Board of Directors.

Nana Edu Amanfo said the priority of the bank would be to mobilise more deposits and offer attractive credits to its customers to stimulate growth and encourage the creation of small-scale businesses in the area.

He said moves have been adopted to recover 1.2 billion cedis loss to the bank at the Atieku Agency through fraud and that the offenders would be brought to book

The board chairman appealed to all shareholders, staff and management of the bank to work closely and ensure that the bank becomes viable to serve the community.

Osagyefo Kwamina Enimil VI, Omanhene of Wassa Fiase Traditional Area, who chaired the function, appealed to all rural banks to give more credit to enhance agriculture, education, health and the cottage industries.