Home / Investment / Ga Rural Bank records 66.22% profit 

Ga Rural Bank records 66.22% profit 

The Ga Rural Bank Limited recorded a net profit of GH¢573,328.00 in 2017 as against GH¢261,473.00 in 2016, representing an increase of 66.22 per cent.

Total income of the bank also grew from GH¢7,653,778 in 2016 to GH¢9,060,789 in 2017, making an increase of 18.38 per cent, whilst total operating expenses shot up from GH¢7,392,305 in 2016 to GH¢8,487,461 last year.

Nana Bram Okae II, Board Chairman of the bank disclosed this at the bank’s 26th Annual General Meeting at Amasaman, in the Greater Accra Region, on Saturday.

He said the bank’s Advances portfolio also recorded an increase of 36.58 per cent from GH¢12,817,775 to GH¢17,506,325 in 2017, adding that, the increase was as a result of declining Treasury bill rates and expansion in the operations of the bank.

Nana Okae said the bank had initiated steps towards deploying new top-notch electronic channels, including internet banking, payment of school fees, and Mobile Bank App known as ‘GA-CONNECT’’, which will run a short code as part of the process of enhancing customer service experience and engagements, adding that, the ATM project had been completed and would soon begin operation.

“This development in our digital transformation will enable our customers to have access to their monies at all times and continue to deepen relationship with customers and offer them the superior customer experience through the right technology, products and services.

The Board chairman said in keeping with its custom as a good corporate institution, the bank had continued its support for social and infrastructural developments in its catchment areas by extending support to operating communities, amounting to GH¢49,247.00.

Nana Okae said the bank would develop its human capital to create and maintain a conducive and cordial working environment to attract and retain competent, well trained, motivated and loyal staff.

A dividend of GH¢0.07 per share, totalling GH¢154,425.28 was approved for payment to shareholders.   

Source: GNA

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