Ahantaman Rural Bank makes profit

The Ahantaman Rural Bank Limited continues to make an impressive performance from year to year; profit before tax in 2011 rose from GH¢928,646 to GH¢1,526,554 in 2012, representing an increase of 64.4%.

Total assets also grew from GH¢28,019,272 in 2011 to GH¢37,161,673 in 2012, representing an increase of 32.6%. Also, the bank registered a growth of 29.8% in deposits for 2012 -- indicating an increase from GH¢24,148,922 in 2011 to GH¢31,351,163 in 2012.

At the 25th Annual General Meeting at Agona Nkwanta in the Ahanta West District of the Western Region, Mr. Kwame Awuah Asante, the Board Chairman of the Ahanataman Rural Bank, said fixed assets also increased from GH¢1,342,813 in 2011 to 1,733,248 in 2012, representing a growth of 29.1%.

He pointed out that paid-up capital registered a growth of 13.9% from GH¢845,284 in 2011 to GH¢962,933 in 2012.

He said for the year under review, the amount spent on corporate social responsibility was GH¢33,856 as against GH¢23,800 in 2011 -- an increase of 42%.

Mr. Kwadwo A. Kusi, the Managing Director of ARB APEX Bank Limited, in an address read for him commended the bank for consistently maintaining its satisfactory rating over the years, based on the quarterly efficiency monitoring unit reports compiled by Apex Bank.

“Notwithstanding, the bank has a lot more to do by way of effective deposit mobilisation, cost control, loan recoveries and customer satisfaction,” he said.

In the face of varied and diverse challenges in the banking industry, he advised the bank to put in place pragmatic and realistic programmes and policies to sustain and consolidate operations.

He urged the bank to invest in relevant training programmes that will help the staff to improve on and deliver quality services at all times: “You should therefore endeavour to build a good corporate system; not only to ensure the loyalty of existing customers, but also win the confidence and trust of new ones.”