Akyempim Rural Bank adopts Resolution to buy shares

Rural banksThe Akyempim Rural Bank,  with  head headquarters at Dawurampong in the Gomoa West District, has approved a Resolution of the right to issue shares,   to force shareholders  to purchase  adequate  shares  to increase the  capital base of the bank.

Colonel (rtd)   Kingsley Kwame  Nyame, Chairman of the  Board of the Bank announced this at the 29th Annual General Meeting (AGM) of the bank at Gomoa Dawurampong  in the Central region.

The Board Chairman stated that for over 30 years now, since the bank was established, shares owned by some shareholders had not been increased.

He said the Akyempim Rural Bank, as a contemporary banking institution,   needs to improve upon  its share capital to meet the demands of  customers.

The Board Chairman said the bank has more than 48,163.000 Ghana Cedis  as the new  requirement of the  Bank of Ghana(BOG) for rural banks, but the bank has to diversity its activities to improve its capital base.

Col Nyame said the past 18 months have been difficult for the bank, due to the   unstable economic environment in which it operates.

The Board Chairman said, in spite of the economic challenges, the bank was able to make profit of 307,773.55 Ghana Cedis in 2012, as against 307,772. 00 Ghana Cedis in 2013, due to bad  economic conditions.

Col Nyame stated that the Board proposed to pay a dividend of o.o3 Ghana Cedis totaling 61,897.17 Ghana Cedis to the shareholders.

The Chairman said the bank granted loans and advances totalling 5,689,468 Ghana Cedis to 4,272 customers in the areas of agriculture, transport, education, building, cottage industry, micro finance and others.

He said the assets of the bank grew from 10,646,714 Ghana Cedis in 2012,  to 12,498,833 Ghana Cedis in 2013,  while investments reduced from 1,600,000 Ghana Cedis in 2012 to 1,300,000 Ghana Cedis in 2013.

Mrs Eunice Osei-Bonsu, Manager of Corporate Affairs of ARB Apex Bank, commended the Akyempim Rural Bank, board, Management and staff for their hard work, selflessness and innovation that had improved performance of the bank.

She advised directors of rural and community banks, to institute risk management policies to identify, access, monitor and control risks to enhance competitive and vibrant  banking .

Mrs Osei –Bonsu said effective risk and vigilance have become more pressing, in view of the technological intervention in the operations of community and rural banks.

The corporate Affairs Manager urged banks to adopt strategies to improve the ICT platforms to enable them sustain the current banking business, and attract new ones to increase their profit margins.

She urged the shareholders to buy more shares to increase the share capital base of the bank.

Source: GNA

Leave A Reply

Your email address will not be published.

Shares