Kintampo Rural Bank records notable performance of 31% increase
The Kintampo Rural Bank for the Bono, Ahafo, Bono East and the Northern regions has strengthened its growth with performance proceeds of about GH¢2.5 million as at September 2023 fiscal year under review.
The bank in the year 2022 earned GH¢1.7 million total profit before taxations but was able to record GH¢2.5 million up to date this year by dint of hard work, commitment and contributing of stakeholder to sustain the bank through buying of shares and deposits made by the cherished customers.
Mr. Martin Mensah, the Chief Executive Officer (CEO) of the bank disclosed this in an interview with the Ghana News Agency (GNA) at Kintampo in the Bono East Region to prove the shareholder’s commitment in upholding the interest of the bank.
Mr. Mensah said the bank’s operation was affected during all the challenges, due to some directives of from the Bank of Ghana refusing to pay dividends to shareholders but with best banking measures put in place a creditable result was realize within September to demonstrate the hope of the client in the bank business.
He noted that the bank continued to increase its deposit to GH¢51.8 million in the beginning of the year to GH¢75.5 million as of September, representing 31 percent enhancement.
Mr. Mensah further explained that last year the total assets of the bank grew from GH¢70.5 million to GH¢100.490 million to represent 30 percent.
Touching on the bank cooperate social responsibility Mr. Mensah hinted that the bank was in partnership with the USAID under the Mobilizing Finance for Agriculture (MFA) project which was to enhance focused at assisting farmers to go into mango and cashew plantations, indicating that the bank earlier initiated another project called Financing Ghanaian Agriculture Project (FINGAP) to mobilized GH¢6.2 million funds to boost farmers support in the cultivation of maize, rice and soya bean at a cost of GH¢6.2 million.
He announced that 345 farmers in the bank catchment area had benefited from the fund which has already been disbursed to promote food security in the community and the nation in general.
The CEO said the bank has expanded its operational zone by opening a new branch at Damango in the Savannah Region and in Tamale, the Northern regional capital and was hopeful that it would soon extend its business to all the regions across the country to serve the socio-economic needs of the people.