Akuapim Rural Bank posts GH¢2,875,110.00 profit

By Edmund Quaynor, GNA
Mamfi-Akuapim (E/R), June 29, GNA - The Akuapim Rural Bank continues to make strong progress, posting a net profit of GH¢2,875,110.00, last year.

The figure represented 48.8 per cent increase over the previous year's figure of Ghȼ1,991,686.00.

Mr. George Kwasi Oware, the Chairman of the Board of Directors, who announced this said assets of the bank also rose by 27 per cent from GHȼ32,342,185.00 to GHȼ 41,103,548.00.

At the same time, total deposits shot up to GHȼ30,799,568.00 from GHȼ24,439,216.00.

He was addressing the 35th annual general meeting of the shareholders of the bank at Mamfi.

He underlined the determination of the board and the management to work diligently to sustain the bank on the path of growth.

He told the owners that the Bank of Ghana (BOG) had already given approval for the opening of a branch of the bank in Madina, Accra.

He declared a dividend payment of GHȼ0.0065 per a share - a marginal increase over the previous year's GHȼ0.0060 per share.

Mr. Kwadwo Aye Kusi, Managing Director of the ARB Apex Bank, in a speech read for him, encouraged the management to put in place pragmatic programmes and policies to ensure effective risk management and sustainability of the bank.

He said it was important they also complied with the Apex Bank's policies designed to prevent criminals from using their systems to perpetuate crime and fraud.

GNA