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Business News of Tuesday, 2 August 2005

Source: GNA

ARB Apex Bank automates services in 2007

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Accra, Aug. 2, GNA - The ABB Apex Bank Limited, the umbrella body of the nation's rural/community banks is to be fully automated by the year 2007.

This would involve networking all its main branches to Automation Teller Machine (ATM) system within the next two years, Mr Emmanuel K. Kwapong, Managing Director of Bank, told the Ghana News Agency in an interview, after the opening of the Abokobi Area Rural Bank Limited branch at Dome in Accra on Tuesday.

He said the process for computerisation had begun in earnest and by 2006 the banking application software would have been developed for the process to be carried out.

He said within five years ARB Apex bank hoped to attain full computerisation at an estimated cost of three million dollars. This would ensure that all the 510 banks nationwide were networked for efficient and reliable banking service.

Mr Kwapong said with the introduction of the Apex Link Funds Transfer System, Ghanaians were able to easily and in within a limited duration send their remittances to their relations everywhere. Currently the Apex Bank was making efforts to strengthen the capacity of the rural banks through training and the introduction of new products.

He said, "The ARB Apex Bank will continue to play a catalytic role to its customers to create wealth and in improving their living standards."

Mr Kwapong said as part of the expansion programme, the Bank in June and July, this year, opened two branches at Takoradi and Bolgatanga. In August and September two more branches would be opened in Takoradi and Kumasi.

He said the head office building in Accra would be completed in the middle of next year adding: "The developments are designed to add impetus to the objective of the ARB Apex Bank of transforming the rural community banks into efficient financial institutions."

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