Nkoranza-Fiagya Bank declares net surplus

The Nkoranza-Fiagya Rural Bank has made a net surplus of 81,488 Ghana cedis as at the close of the 2009 fiscal year.

Professor Kwasi Nsiah-Gyabaah, Chairman of the board of Directors, who announced this, said the bank’s deposits jumped from 2,049,980 Ghana cedis to 2,323,125 Ghana Cedis, representing 13 percent increase.

He was speaking at the 25th Annual General Meeting of Shareholders of Nkoranza-Fiagya Rural Bank at Busunya.

Prof. Nsiah-Gyabaah said total assets of the bank increased from 2,404,348 Ghana Cedis to 2,839,571 Ghana Cedis, whilst share capital hopped from 58,122 Ghana cedis to 120,700 Ghana cedis.

He said that the Bank’s total income rose from 412,025 Ghana cedis to 583,280 Ghana cedis, whilst loans and advance salaries increased by 34 percent as compared with that of the previous year.

Prof. Nsiah-Gyabaah asked the shareholders to buy more shares and save with the bank adding that the financial institution had developed E-Zwich services at its agencies and a computerization process was on-going.

He said that generators, satellite equipment and other machines have been installed at all the agencies to ensure the smooth take-off of the computerization programme.

Prof Nsiah-Gyabaah appealed to the shareholders to increase their share capital to enable the bank to attain the minimum share capital of 150,000 Ghana cedis as directed by the Central Bank.

Mr. Kwame Ansah, Brong-Ahafo Regional Manager of the Bank of Ghana, commended the shareholders for their contribution to the growth of the bank.

He asked customers who took loans from the bank to repay the package.

Bank Manager, Mr. Akwasi Owusu-Sekyere commended the staff for working assiduously to raise the image of the bank.

Source: GNA