Brakwa (C/R) Aug 23, GNA - Rural and Community Banks (RCBs) must endeavour to build good corporate image to ensure the loyalty of their customers and the patronage of their products.

The managing director of the ARB APEX Bank, Mr Eric Osei-Bonsu, said this at the 25th annual general meeting of the Brakwa-Breman Rural Bank, at Brakwa, in the Central Region in an address read for him at the weekend.

He reiterated that today's banking is dependent on the provision of quality service to customers, explaining that, "without customers you cannot stay in business."

"The big banks continue to lure customers of smaller banks, such as yours, through these quality services," he noted.

"It is, therefore, important for RCBs to address this issue by investing in training programmes that will help them to improve on service delivery."

On risk management, Mr Osei-Bonsu said the banking business has become very competitive and risky, advising that, "that boards of RCBs must institute a risk management policy to identify access, monitor and control of risks effectively".

The chairman of the Board of Directors of the bank, (Cdr. Rtd) Charles K. Addae, said the Bank made a profit after taxation of GHC35,881.00 in 2009 as against GHC10,547.00 in 2008, while its total deposits also improved from GHC1,413,367 in 2008 to GHC1,774,622 in 2009.

Cdr. Rtd Addae said the bank's total assets grew from GHC2,015,590 in 2008 to GHC2,502,643 the next year. Shareholders' fund also moved from GHC320,041 in 2008 to GHC352,116.

He said the bank granted loans totaling GHC987,265 against GHC837,798 in 2008. Its stated capital also improved from GHC73,601 in 2008 to GHC156,752 in 2009.

The chairman said it purchased Akuafo cheques totaling GHC578,378.40 in 2009 against GHC323.96 in 2008, an increase of 25.64 percent.