Akyempim Rural Bank declares profit

Gomoa Dawurampong (C/R), Oct 27, GNA - The Akyempim Rural Bank at Gomoa Dawurampong in the Gomoa West District of the Central Region has declared a profit of GH¢113,320.00 for the year 2009, as against GH¢109,546.00 in the 2008 financial year.

Col. Rtd K.K. Nyame, Chairman of the Board of Directors of the Bank, said this at the 25th Annual General Meeting of the shareholders at Dawurampong. He said the deposits of the Bank increased by 27 per cent to GH¢3,653,528.00 in 2009 from GH¢2,875,097.00 in 2008, while the total assets also grew from GH¢4,160,753.00 in 2008 to GH¢4,901,248.00 in 2009.

The Chairman said the investment at the close of 2009 stood at GH¢1,000,000 as against GH¢800,000 in 2008. Col Nyame declared that even though the Bank had met the Bank of Ghana stated minimum capital requirement by December 2007, it had increased fromGH¢203,861.00 in 2008 to GH¢254,620.00 in 2009.

He said the Bank had disbursed a total of GH¢2,280,387.00 in 2009, as loans and advances to 6,344 customers in the area of transport, education, agriculture, construction and property acquisition, as against GH¢2,239,565.00 in 2008, and recommended the payment of GH¢26,851.00 as dividend to be distributed at GH¢0.02 per share to the shareholders of the bank.