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Business News of Tuesday, 5 November 2019


Board Directors of Atwima Kwanwoma Rural Bank commended

Mrs. Comfort Owusu, the Executive Director of the Association of Rural Banks (ARB) has lauded the Board of Directors of the Atwima Kwanwoma Rural Bank for leading the bank to achieve success.

"For the bank to be adjudged the Best Rural Bank of the year 2018, by the Chartered Institute of Marketing Ghana (CIMG), amongst other laurels, was no mean achievement, and the Board must be commended for leading the management and staff to this sterling performance," she said.

Mrs. Owusu made the commendation when she addressed the 36th Annual General Meeting of the Bank at Pakyi No.2 in the Ashanti Region.

She said through the Board's good corporate governance and excellent services among others, the bank kept growing stronger over the years.

The Executive Director used the occasion to advise women to take the issue of breast cancer seriously and avail themselves for examination and treatment, adding that "early detection of the disease leads to prevention."

Mr. Patrick Owusu, the Board Chairman of the Bank, in his 2017/2018 financial report, said the bank met the Bank of Ghana's minimum capital requirement of GHC1,000,000.00 in excess of 200 percent.

He said this indicated that the bank's total assets grew from GHC 138,016,601.00 in 2017, to GHC159,673, 337.00 in 2018, posting a growth rate of 15.69 percent. Deposits went up to GHC121,016,757.00 in 2018 as against GHC101,841,580.00 in 2017, representing an increase of 18.83 percent.

Mr. Owusu said investment rose from GHC92,487,798.00 in 2017 to GHC106,091,938.00 recording 14.71 percent during the year under review, while the bank increased shareholders dividend from GH?0.08 in 2017 to GHC0.10 per share in 2018, 20 percent increase.

The Board Chairman urged shareholders to help sustain public confidence and trust, by propagating the bank's success story to the public.