Home / General News / Naara Rural Bank adjudged the best in key banking areas

Naara Rural Bank adjudged the best in key banking areas

Mr Eric Osei–Bonsu, Managing Director of ARB Apex Bank, at the weekend, congratulated the Naara Rural Bank in the Upper East Region for being the most satisfactory and the best Rural Bank in maintaining its cost-income ratio.

The bank hit a cost-income ratio of 77.4 per cent in 2009 in spite of the challenges that accompanied the fall in the rates of treasury bills in the country.

The rating was done by ARB APEX Bank’s Efficiency Monitoring Unit which considered Naara Rural Bank’s total assets, total deposits, loans and advances, net worth and paid up capital.

Mr Osei–Bonsu said this in a speech read for him during the Annual General Meeting of the Naara Rural Bank held in Navrongo.

The financial performance of the bank for 2009 has shown remarkable improvement in all areas, notable among these are the attainment of the minimum capital requirement, profit, investments, loan and advances, total assets and customer deposits are areas the bank performed satisfactorily, he said.

Mr Osei-Bomsu asked the bank to consolidate the gains made by continuing to render quality services to its customers, guard against fraud, introduce innovative products, and above all comply with all Bank of Ghana and ARB APEX Bank directives.

He urged the bank to beef up its contributions in terms of social responsibilities in their operational communities since it would help its client base.

He commended the bank for making training and human resource development its priority saying all rural banks would be computerized by 2011 and urged all to update their Information Technology (IT) skills for successful implementation of the programme.

Mr David Samari, Board Chairman of the Bank, said in view of the leverage position of the bank, stakeholders were not seeking increase in remuneration.

He said the bank intended to construct an office building for the Navrongo Agency, relocate its Bolgatanga Agency to a more strategic location and open a mobilisation centre at the University for Development Studies campus.

Mr Samari said as part of its social responsibility, the bank made various donations to the tune of GH¢1,880.00 in respect of education, sports, health and culture.

He said the bank was going to extend its micro credit with education to cover Sirigu, Kandiga, Chiana, Biu, Nangalikinia, Gononia, Namolo and Nogsenia as a result of the 100 per cent recovery achieved when it was piloted in Wuru and Gia, Korania and Bonia communities in 2007.

He appealed to parents and guardians in the district to patronize the Child Trust Account for their children in the payment of fees.

Mr David Samari was retained the Board Chairman.

Mr Emmanuel Andema, District Chief Executive for Kassena-Nankana East, called on sons and daughters of the area to support the bank to grow to continue to render good services to the people.

Source: GNA

Check Also

Suspension of Prof. Gyampo and Dr Butakor relatively harsh – UTAG

The University Teachers Association of Ghana (UTAG), University of Ghana (UG) Chapter on Friday said …