BOG Intensifies Supervision

The Bank of Ghana has stepped up its supervisory duties on financial institutions with special attention to rural banks.

Mr Evans Aidoo, the Supervising Manager of Adansi Rural Bank, announced this at a public forum organised by the bank for its customers at Obuasi to know their problems and assist management to assess their performance.

Mr Aidoo said with the measures put in place by BOG including ensuring that rural banks exercise effective internal controls, the collapse of rural banks would be reduced.

He said the bank had, within two years, increased its vital indicators such as deposits, capital adequacy and profits by over 400 per cent.

Mr Aidoo said the bank has been responding to changes in the national economy and as the national interest rates go down, the bank adjusts accordingly.

Mr Joseph Osei, a Director of the bank, asked the customers to buy shares to enable them to become owners of the bank.