Rural Banks In Ashanti Initiate Training Programme

Sekyedomase (Ash), Sept 4, The Ashanti Chapter of the Association of Rural Banks is putting in place banking training programmes for its members. Mr. Dapaa Siakwan, Welfare Committee Chairman of the Association who announced this said, these programmes would be tailored to suit the present needs of members. He was speaking at the 12th annual general meeting of Sekyedomase Rural Bank at Sekyedomase in Ashanti. He said the whole banking system was undergoing technological and procedural changes and that there was the need to embark on modernisation to meet the challenges. Mr. Bruce Nimo, Chairman of the Board of Directors, welcoming members said, the bank recorded a net profit of 25.5 million cedis last year while deposits within the same period shot up to 508.6 million cedis. He said the bank was able to grant loans and overdrafts to the tune of 198.3 million cedis to its customers in agriculture, trading, transport, cottage industries, as well as salaried workers. Mr. Nimo said the bank's ordinary share capital under the year under review stood at 20.1 million cedis, adding that the bank under its mobilisation scheme has established among others a centre at Moshie Zongo, a suburb of Kumasi. He said, the bank purchased treasury bills totalling 91 million cedis during the year to bring its total investment to 155 million cedis as against 59.8 million cedis in 1995. Mr. Charles Francis Broni district chief executive for Ejura- Sekyedomase urged the shareholders and management to avoid tendencies that would dent the reputation of the bank and asked that they work in a peaceful atmosphere to promote the development and progress of the bank.