Tease (E/R),- Mr Jeffery Konadu Addo, the Board Chairman of Afram Community Bank, has said the Bank plans to establish more branches in commercial areas for improved community service and generate additional income.
Speaking during the 38th Annual General Meeting of stakeholders at Tease in the Kwahu Afram Plains South District, he said the bank was mostly situated in rural communities which affected the bank’s deposits mobilization.
He added that plans were far advanced to establish new branches at Konongo in the Ashanti Region, and Abetifi and Anyinam in the Eastern Region to bring its services to the doorsteps of clients.
With those commercial towns identified, he was hopeful that opening up new branches there would enhance the profit margin of the bank.
Referencing the bank’s profit in 2020, he said although there was a decrease, the bank was still doing its best to improve upon its services and therefore urged shareholders to purchase more of its shares.
Mr Addo indicated that the Bank granted loans of GH¢14,852,357 to customers in 2020 but had since not recovered all.
He urged recalcitrant defaulters to settle their indebtedness to enhance the Bank’s liquidity situation.
Source: Ghana News Agency
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