Ahafo Community Bank defies challenges
The Ahafo Community Bank at Kukuom in the Asunafo South District in the Brong-Ahafo Region, improved its operations last year despite economic challenges.
It did not only increase its profit before tax by 76 per cent to GH¢144,313.00 in 2012 as against GH¢109,242.00 in 2011 but its deposits increased by 1.38 per cent from GH¢4,685,373.00 to GH¢4,618,616.00 in 2012.
The bank’s total assets increased by 8.52 per cent from GH¢5,256,054.00 in 2011 to GH¢5,704,095.00 in 2012.
These were announced by Nana Boakye Dankwah, Chairman of the Board of Directors of the bank at its 14th Annual General Meeting at Kukuom.
He said the bank experienced some challenges during the year under review, while its catchment area continued to witness heightened competition with the influx of new financial institutions.
Mr Dankwah said the bank had completed its computerization programme and all agencies were now migrated unto the Temino 24 (T24) network for operation.
He noted that the bank’s area of operation continued to be attractive to the financial market for both small and large financial institutions due to the cocoa production and mining activities in the Ahafo area.
Mr Dankwah gave the assurance that with the introduction of new credit and deposit products, improved customer care and technological innovations would be stepped up to face the challenges.
“The bank will continue to monitor the base rate by the Bank of Ghana and respond accordingly, like any other bank by maintaining attractive lending and deposits rates to remain competitive,” he added.
Mr Kwadwo Aye Kusi, Managing Director of ARB Apex Bank commended the management, staff, shareholders as well as the customers for the impressive performance.
He urged the staff to work hard to meet the emerging competition and in addition, take advantage of the enormous business opportunities in the area.
However, Mr Aye Kusi called for the enhancement of the internal control mechanism and customer care to further improve the fortunes of the bank.
Mr Evans Opoku Bobie, Supervising Manager of the bank said it honoured its social responsibility by supporting some institutions in its operational area.
He appealed to the shareholders to purchase more shares to help the bank to grow.