Amanano Rural Bank invests in social responsibilities to communities

Nyinahin (Ash), Oct 24, GNA - The Amanano Rural Bank at Nyinahin in the Atwima-Mponua district has spent 30 million cedis on socio-economic activities as part of its social responsibilities to communities in its operational areas.

The Bank has also set aside another 30 million cedis to help complete a block of four classrooms for the Nyinahin Catholic Secondary School.

Mr Yahaya Yakubu, Supervising Manager of the Bank, disclosed this to the Ghana News Agency in an interview at Nyinahin on Monday. He said the bank disbursed 75 million cedis to 21 groups at Nyinahin and Bibiani for its micro-finance activities. Mr Yakubu said a total of 37.5 billion cedis worth of cocoa was purchased by the Bank in 2005 as against 7.1 billion cedis in 2004. The Supervising Manager said the Bank was seriously considering the involvement of all Licensed Buying Companies (LBCs) to channel their seed fund through the bank.

He said the Bank recorded a net profit of 1.020 billion cedis in 2005 as against 821 million cedis in 2004, while it mobilised a total deposit of 16.2 billion cedis in 2005 as against 11.5 billion cedis in 2004.

He said the board of directors of the Bank has recommended for approval 122 million cedis as dividend to its shareholders this year. 24 Oct 06