Chief Executives Cautions Rural Bank Executives Against Taking Huge Loans

Asuom (Eastern Region), 22 Sept., The Kwaebibirem district chief executive, Mr Korankye Ababio, has cautioned management and boards of rural banks against allocating large loans to themselves. He was addressing the 12th annual general meeting of the Kwaebibirem rural bank at Asuom. The DCE observed that the practice of people keeping huge sums of money at home can only be stopped if bankers can guarantee the safety of their savings and ensure strict confidentiality of transactions with customers. He urged the people to increase their shares in the bank. Mr Ababio commended the bank for mobilising savings especially from farmers and small scale industrialists and granting loans to customers. Mr S.O Asomaning, acting chairman of the board of directors, said they are determined to develop the bank to become a viable institution in the region.