Drobo Community Bank makes profit

The Drobo Community Bank Limited (DCBL), made a net profit of GH¢75,771.00 during its 2013 financial year, Mr Wilson Benneh, Chair of the Board of Directors disclosed at the weekend.

Mr Benneh who was addressing the 15th Annual General Meeting (AGM) of the Bank at Drobo in the Jaman South District, said the figure represented an increase of 154.66 per cent over GH¢29,762.00 gained in the previous year.

He said the Bank’s deposits increased by 35.70 per cent, because GH¢2,152,011.00 was made in 2012,  but it increased to GH¢2,920,226.00 in 2013, adding that short-term investments also shot up from GH¢516,683 in 2012 to GH¢846,823 in 2013, making 63.90 percentage increase.

Mr Benneh stated that the Bank granted an amount of GH¢1,216,903.00 as loans and advances in 2012, adding that the figure went up to GH¢1,768,113.00 in 2013, representing 45.30 per cent increment.

He said its total assets also increased by 30.24 per cent from GH¢3,357,891.00 in 2012 to GH¢4,373,227.00 in 2013.

The Board Chair noted that these and other indicators underscored a stronger operational performance in the year under review,  and therefore declared that the implementation of the Bank’s expansion programme under the 2012-2015 Corporate Plan was on course.

Mr Benneh announced that efforts towards the opening of an agency in the Sunyani Central Business District had started, and expressed optimism that the Bank would meet the necessary requirements for the Bank of Ghana’s approval within the next few years for that objective to be achieved.

On corporate social responsibility, Mr Benneh gave the assurance that the Bank would continue to sponsor brilliant but needy students under its scholarship scheme and also contribute to the provision of social amenities in its catchment area.

Source: GNA