Sekyedomase Rural Bank declares profit

The Sekyedomase Rural Bank made profit before tax of GH¢118,380.00 in 2009, Mr David Okyere, the Board Chairman, has said.

This, he said, represented 41 per cent increase over the previous year’s figure of GH¢83,871.00.

Mr Okyere was addressing the 21st annual general meeting of the bank at Sekyedomase in the Ejura-Sekyedumase District.

He said during the period its total assets rose from GH¢5,415,753.00 to GH¢6,091,098, a 12.50 per cent growth.

The bank’s deposits also went up by 22 per cent from GH¢4,074,117.99 to GH¢4,967,112.00, while investment in treasury bills jumped to GH¢2,137,000.00 from GH¢1,717,000.

Loans and advances also stood at GH¢2,465,097.00 with share capital hitting GH¢165,975.19.

He said 1,100 women from 58 groups were supported with GH¢400,000.00 to engage in economic activities to reduce rural poverty.

Dr Nana Akowuah Boamah, Executive Member, Ashanti Chapter of the Association of Rural Banks, called for prompt re-payment of loans by beneficiaries so that the facility could be extended to other customers.

He urged the staff of the bank to exhibit high sense of responsibility and to improve on customer relations to attract more clients.

Mr Kwame Dapaah Siakwan, Chairman of the Ashanti Chapter of the Association, commended the bank for the progress made and appealed to the shareholders who have not opened accounts with the bank to do so.

Source: GNA