Nzema Manle Rural Bank Limited located at Awiebo in the Western region recorded a profit before tax of GHC 257,765.00 for the year 2011 as against GHC 158,325.00 registered for the year 2010, representing a 62.81 percent growth.
The rural bank’s total assets also increased from GHC 5,913,825 in 2010 to GHC 8,729,783 in 2011, representing a growth of 47.62 percent.
As a result of the increase in deposits, loans and advances granted to customers went up significantly from GHC 2,211,922.00 in 2010 to GHC 3,722,994.00 in 2011.
Emmanuel Yankson Kwofie, Chairman of the Board of Directors of the Bank, disclosed this at the 30th Annual General Meeting (AGM) of the rural bank.
He mentioned that owing to the aggressive fund mobilization strategies, the bank was able to overcome challenges posed by other rural banks, microfinance and Susu operators who had invaded the catchment area.
He indicated the bank chalked a significant growth in deposit from GHC 4,584,257.00 in 2010 to GHC 6,721,950.00 in 2011, representing 46.63 percent.
Mr. Kwofie revealed that the bank’s operating income increased by GHC 483,456.00, representing 50.27 percent while the operating cost also went up by GHC 334,093.00 as against the figure for 2010, representing a percentage increase of 44.70.
?The aggressive fund mobilization and loan recovery effort, coupled with prudent fund management, culminated in this enviable achievement in spite of their attendant costs,? he stressed.
Kweku Ababio of ARB Apex Bank, who represented the Acting Managing Director of the Apex Bank, Osam Duodo, disclosed that the bank?s Apexlink Money Transfer had been re-branded as Automated Apexlink Money Transfer (i-Trans for short).?
He explained that the i-Trans is a countrywide domestic funds transfer product that operates through a network of rural and community banks and ARB Apex Bank branches.
?It is fast, efficient, reliable and very convenient to traders and businessmen who do business in the remotest parts of the country,? he noted.
He called on the general public and the business community operating in the rural and semi-urban areas to patronize the product and eliminate avoidable losses caused by highway robbery, among others.
From Emmanuel Opoku, Takoradi
Nzema Manle Rural Bank Limited located at Awiebo in the Western region recorded a profit before tax of GH? 257,765.00 for the year 2011 as against GHC 158,325.00 registered for the year 2010, representing a 62.81 percent growth.
The rural bank’s total assets also increased from GHC 5,913,825 in 2010 to GHC 8,729,783 in 2011, representing a growth of 47.62 percent.
As a result of the increase in deposits, loans and advances granted to customers went up significantly from GHC 2,211,922.00 in 2010 to GHC 3,722,994.00 in 2011.
Emmanuel Yankson Kwofie, Chairman of the Board of Directors of the Bank, disclosed this at the 30th Annual General Meeting (AGM) of the rural bank.
He mentioned that owing to the aggressive fund mobilization strategies, the bank was able to overcome challenges posed by other rural banks, microfinance and Susu operators who had invaded the catchment area.
He indicated the bank chalked a significant growth in deposit from GHC 4,584,257.00 in 2010 to GHC 6,721,950.00 in 2011, representing 46.63 percent.
Mr. Kwofie revealed that the bank’s operating income increased by GHC 483,456.00, representing 50.27 percent while the operating cost also went up by GHC 334,093.00 as against the figure for 2010, representing a percentage increase of 44.70.
?The aggressive fund mobilization and loan recovery effort, coupled with prudent fund management, culminated in this enviable achievement in spite of their attendant costs,? he stressed.
Kweku Ababio of ARB Apex Bank, who represented the Acting Managing Director of the Apex Bank, Osam Duodo, disclosed that the bank?s Apexlink Money Transfer had been re-branded as ? Automated Apexlink Money Transfer (i-Trans for short).?
He explained that the i-Trans is a countrywide domestic funds transfer product that operates through a network of rural and community banks and ARB Apex Bank branches.
?It is fast, efficient, reliable and very convenient to traders and businessmen who do business in the remotest parts of the country,? he noted.
He called on the general public and the business community operating in the rural and semi-urban areas to patronize the product and eliminate avoidable losses caused by highway robbery, among others.
From Emmanuel Opoku, Takoradi
Source: newsghana.com.gh