Enyan Denkyira Rural Bank Ltd drastically progresses

Ajumako-Onwane (C/R) – The Enyan Denkyira Rural Bank Limited made a net profit before taxation of GH 635,916.00 in 2017 against GH 348,283.00 representing 82.58 percent.

Dr William Panford Brey the Chairman of Board of Governors of the Bank disclosed this at the 36th Annual General Meeting of the Bank held at Ajumako Onwane.

The Chairman said, the bank’s total income interest grew from GH 2,607,917.00 in 2016 to GH 3,360.923.00 in 2017 representing 28.87percent.

According to him, the total assets of the bank also increased from GH 9,159,636.00 in 2016 to GH 11,342,558.00 in 2017, representing 23.83 percent, while the total liabilities grew from GH 7, 370, 222.00 in 2016 to 8,940,120 in 2017 representing 21.30 percent growth.

Dr Panford Brey said the achievement was due to a supplementary aggressive deposit mobilisation strategy they adopted by the bank and appealed to the shareholders to buy more shears for the bank to continue to grow and expand to enable them enjoy the fruit of their labour.

He announced that the bank continues to exhibit exemplary corporate governance standards consistent with the mandatory legal provisions, and added that the board through its audit and credit risk, human resources, welfare sub-committees and the various management committees worked together to ensues sound business practices through the bank.

Through the regular review of policies and procedures, the board is satisfied that the systems in place are for now adequate to manage the risk inherent in the bank’s business, he stated.

The shareholders retained Mr. J. M. Dadzie and Dr. Araba Amissah whose tenures of office expired as board members and offered themselves to continue to serve the bank with their expertise.

Mr. Kojo Mattah, Managing Director of the ARB APEX Bank commended the Directors, management, shareholders customers and the communities in which the operate, for helping the bank to meet its capital requirement of GH 10 million and added that they were aware that the current stated capital of the bank was well in excess of the required minimum capital.

He therefore called on sister Rural Communities Banks (RCBs) to emulate this sterling example of Enyan Denkyira Rural Bank and also to explore the possibility of managing their operations with other RCBs.

Source: Ghana News Agency

   

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