The Akyempim Rural Bank at Gomoa Dawurampong has declared a pretax profit of GH¢155,157 in 2011 as against GH¢140,877 in 2010.
The bank's deposit increased from GH¢4,852,258 in 2010 to GH¢6,883,802 in 2011 with total assets rising from GH¢550,179 in 2010 to GH¢8,597,757 in 2011.
Colonel Kingsley Kwame Nyame (retired), Chairman of the Board of Directors of the bank, made this known at the 27th Annual General Meeting (AGM) at Gomoa Dawurampong in the Gomoa West District of the central Region on Saturday.
He said the bank's total income also increased from GH¢1,426,811 in 2010 to GH¢1,689,198 in 2011.
He said the share capital of the bank also rose from GH¢350,000 in 2011 as against GH¢300,919 in 2010.
Col Nyame said the board recommended payment of GH¢45,410 as dividend to be distributed at 0.03 per share to the shareholders.
The bank granted loans and advances to totaling GH¢4,295,995 to GH¢3,520 applicants as against GH¢3,330,079 in 2010.
He appealed to the shareholders to buy more shares to increase the share
capital of the bank.
The Acting Managing Director (MD) of the ARB Apex Bank, Mr K. A. Kusi in a speech read for him by Mr Enoch Richard Akaifi, head of Credit Unit commended the board, management and staff of the Akyempim Rural bank for their performance.
He also urged the management to develop more products to attract customers and other corporate bodies.
Mr Kusi also called on the bank to put in place effective loan strategies that could improve recovery of debts from defaulters.
The MD advised them not to be complacent about the performance that had placed the bank in a strategic position in the rural banking industry but should strive harder in the years ahead.
Mr Emmanuel Osei, a leading member of the Central Regional Chapter of Association of Rural Bank, called on the board and management to organize training workshops to sharpen skills of the staffs to increase their operations.
He urged staffs to improve upon their customer relations.