Rural Banks urged to provide quality services

Asuom (E/R), Sept. 22, GNA - Mr Enoch Richard Arkaifie, Head of the Credit Unit of the ARB Apex Bank Limited, has urged Rural and Community Banks (RCBs) to provide quality services to their customers

Addressing the 26th Annual General Meeting of the Kwaebibirem Rural Bank at Asuom on Wednesday, Mr Arkaifie said the big banks continued to lure customers of rural banks through the provision of quality services.

He said it was therefore important for RCBs to address that issue by investing in training programmes that would help to improve their service delivery.

Mr Arkaifie said in the light of the complex and rapidly changing environment, RCBs would be expected to enhance their operational efficiency and risk management to enable them to operate effectively in the dynamic banking industry.

Mr Arkaifie therefore urged them to strengthen their internal control system to ensure that their operations were carried out in an orderly manner, consistent with best practices in the banking industry.

The board and management should also put the necessary structures in place to identify and mitigate the incidence of risks which might adversely affect the achievement of the bank’s objectives.

He on behalf of Mr Eric Osei-Bonsu, Managing Director of ARB Apex Bank Ltd. commended the bank for demonstrating improvement in their performance in 2010 as against 2009.

Total assets in 2010 were GHC 7,636,252 as against GHC 5,002,837 in 2009. Total deposits rose to GHC 5,963,974 in 2010 as against GHC 3,635,993 in 2009.

Total Advances rose to GHC 3,576,503 in 2010 as against GHC 1,923,972 in 2009 while stated capital went to GHC 165,672 under the year under review as against GHC 157,384 in 2009.

Net Profit after tax went to GHC 95,823 in 2010 as against GHC 65,876 in 2009.