Office complex for Agona Rural bank

Agona Kwanyako (C/R), Oct 12, GNA - Mr. Ben Donkor, Chairman of the Board of Directors of the Agona Rural Bank, on Saturday cut the sod for the construction of a 500 million-cedi headquarters complex for the Bank at Agona Kwanyako.

The project comprises a banking hall, offices and conference room. Speaking at the ceremony, which formed part of the 20th Annual General Meeting, Mr. John Ofori, Manager, said it was part of a six-year corporate plan launched three years ago to accelerate the growth. He said a 79.27 million cedis has been set-aside for the first phase of the project.

In his annual report, Mr. Donkor said the bank recorded a profit before tax of 274.88 million cedis as against 236.17 million cedis in 2001.

Total deposit at the close of 2002 was 3.59 billion cedis as against 2.38 billion cedis in 2001 while the bank increased its investments from 2.06 billion cedis in 2001 to 3.02 billion cedis with loans and advances totaling 847.93 million cedis.

He said the bank was participating in a capacity building programme under the Rural Financial Services Project, adding that, it would be fully computerised by the end of 2005 and networked with other rural banks nationwide to enhance services to customers.

Some members of the Board, management and staff were honoured for their hard work and meritorious service.