South Akim Rural Bank increases deposits to 2.7 billion cedis

Nankese (Eastern Region), 24 Feb.'99,

The South Akim Rural Bank at Nankese, near Suhum has increased its total deposits from 1.7 billion cedis from December 1997 to 2.7 billion cedis as at December 1998. The chairman of the board of directors of the bank, Opanyin Kwasi Gyasi, made this known at the 13th annual general meeting of the bank at Nankese at the weekend. He said the bank's investments in treasury bills and government bonds also increased from 762 million cedis as at December 1997, to 1.2 billion cedis as at December 1998.

The bank, which made a net profit of 36.1 million cedis during the period, granted total advances of 1.3 billion cedis to customers, Opanyin Gyasi said. He said as part of its modernisation programme, the bank had acquired a number of computers and money counting machines and also trained the staff in modern banking operations to enable them offer efficient service to customers. The bank supported an electrification project and a primary health care centre at Nankese and also donated a generator to the Suhum Government Hospital in addition to providing books to the Suhum Technical and Presbyterian Secondary Schools.

It plans to support the people of Nankese to establish a senior secondary school and offer financial assistance to poor students in second-cycle schools. Opanyin Gyasi disclosed that the bank purchased 2.2 billion cedis worth of Akuafo cheques during the last cocoa purchasing season and is working with the Suhum/Kraboa/Coaltar and West Akim District Assemblies to disburse their poverty alleviation fund to organised groups and individuals.