The 32nd annual general meeting of the shareholders of the Nzema-Manle Rural Bank Limited has taken place at Awiebo in the Ellembelle District in the Western Region.

In his annual report and financial statements of the bank for the year ending December 31, 2013, the Chairman of the Board of Directors of the bank, Mr. Emanuel Yankson Kwofie, disclosed that the bank made a profit before tax of GH¢592,370.00 in 2013 as compared to GH¢479,530 recorded in 2012, representing a gain of 23.53 percent.

He said the bank’s deposits grew from GH¢8,511,621 in 2012 to GH¢9,192,847.00, an increase of eight percent.

In addition, he said the bank also performed remarkably by increasing its total assets from GH¢10,819,591 in 2012 to GH¢12,032,771.00 in 2013.

Mr. Kwofi urged customers who had been granted loans by the bank to pay them back promptly. He said when they did that, the management of the bank would be encouraged to grant more loans to enhance business operations in the area.        

He stated that the bank was last year named among the 12 top rural banks in the country and promised that it would work very hard to improve on its performance this year. 

The board chairman said in the discharge of its corporate social responsibility, the bank offered assistance to some communities and institutions in its operational area. The recipients of the bank’s benevolence included the Nzema zone schools and college sports federation which received GH¢500, the Ellembelle District and Nzema East municipal assemblies GH¢800 each, the St Martin De Porres Hospital GH¢1000 and the Bonzo Kaku Senior High School GH¢700.

He commended the staff, management and board of directors of the bank for their hard work and selfless and dedicated services.  

In a speech read by the Takoradi Area Branch Manager of the bank, Mr. Samuel Kofi Osei, on his behalf,  the Managing Director of the ARB Apex Bank, Mr. Kwadwo Aye Kusi, commended the Nzema Manle Rural Bank for its sterling performance in 2013. 

He said the business of banking had become very competitive and risky and as such urged the board of directors to institute a process that would continuously identify, measure, monitor and control identified risk in their work. 

The Managing Director of the Ghana National Gas Company, Dr. George Sipah Yankey, also commended the bank for its hard work and excellent performance and urged it to sustain the momentum.

He pledged the full support of the company for rural banks in the Nzema area.

Source: Graphic online

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