Unity Rural Bank expands its operations

The Unity Rural Bank at Ziope in the Ho District is expected to increase its net profit this financial year from 100 million cedis to 200 million cedis.

Togbui Binah Lawluvi VI, Chairman of the Board of Directors of the Bank, expressed this optimism at the commissioning of an agency of the bank at Fiave, a suburb of Ho.

He said the Bank, whose deposit amounted to 1.7 billion cedis at the end of April this year, proposed to disburse 32 million cedis as dividends to its shareholders this year.

A new banking complex built at a cost of 250 million cedis at Kpetoe is almost ready for commissioning, he said.

Togbui Lawluvi said the opening of a third agency of the bank at Ho Fiave in addition to Dakpa and Kpetoe Agencies attested to the confidence the Bank of Ghana (BOG) had in its viability.

He called on rural communities in the Ho District to transact business with the Bank and take advantage of the opportunities it offered for community and personal improvement.

Togbui Lawluvi appealed to the BOG to empower rural banks to approve loans of up to 30 million cedis instead of the present 10 million cedis in response to the prevailing macro-economic environment in the country.