THE Dangme Rural Bank’s net profit increased from GH¢280,150 in 2008 to GH¢321, 444 in 2009 representing an increase of 25.33per cent over the previous year’s performance.
The Chairman of the bank’s board of directors, Nene Affum Kaafra III, made this known when he presented the bank’s financial statement at its 25th annual general meeting at Prampram in the Dangme West District of the Greater Accra Region.
The bank which currently has seven agencies is also the first Rural and Community Bank (RCB) to be hooked to the ARB Apex Bank computerisation data center.
The Chairman noted that the bank being the only rural facility accessing the Millennium Challenge Account in the region was however struggling to absorb the unbelievable rate of repayment and entreated beneficiary farmers to repay their loans on time to enable other groupings to have access to the funds.
He announced that the creation of three additional agencies at Kpone Junction, Dawa and Afienya under the Millennium Challenge Account (MCA) programme would soon commence.
The Second Deputy Governor of the Bank of Ghana, Mr Millison Narh, commended the bank for its impressive performance and challenged management to collectively the utilised its
Mr Narh on the other hand lamented the decision of most rural banks which had over the years channeled about 81 per cent of their loan portfolio to salary workers in order to reduce their risks and maximize their returns.
In a speech read on his behalf, the Managing Director of the ARB Apex Bank, Mr Eric Osei-Bonsu, was optimistic that the bank’s impressive performance in the year under review would propel them to achieve more laurels in future.
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