President of the Central Regional Chapter of the Association of Rural Banks, Mr Kweku Acquaah, has cautioned rural banks to be extra vigilant in their operations to check fraudulent activities.
He said if rural banks tightened their internal control systems, they would be in a better position to ward-off nefarious activities such as those engaged in by "Sakawa" clients (Internet Fraudsters).
Speaking at the 21st Annual General Meeting of the Gomoa Ajumako Rural Bank at Gomoa Afransi in the Gomoa East District, Mr Acquaah said two rural
banks in the region had been heavily swindled by "Sakawa" operators recently.
He said these "Sakawa" operators approach bank managers and or staff at the counters and present fake cheques as if they had millions of Ghana cedis in their accounts and lured them under some influence to honour their cheques.
Mr Eric Osei-Bonsu, Managing Director of the ARB Apex Bank, umbrella body of rural banks in a speech read for him, urged the bank to continue with its savings mobilization drive to increase total deposits.
He also told them to be innovative, committed, and trustworthy and add value to improve their performance.
Mr Osei-Bonsu said the board and management of the bank must position themselves to adequately and effectively confront challenges being posed the emerging technological advancement and global economic and financial difficulties.
Presenting the banks financial performance for 2008, Mrs Rose Newman, Chairperson of the Board of Directors of the bank, said a profit before tax
of GH¢152,107 as against GH¢134,481 in 2007 wasd realised.
She said deposit increased by 15 per cent from GH¢417,701 in 2007 to GH¢479,469 in 2008.
Mrs Newman said loans and advances totalled GH¢4487,803 in 2008 as against GH¢430,060 in the previous year.
She stated that the bank has re-introduced the mobile banking otherwise known (Susu) programme on pilot basis at its head office at Gomoa Afransi
and it would be extended to Agona Swedru Municipality and Gomoa Eshiem soon.