The Odwen Anoma Rural Bank with its Head Office at Abetifi in the Kwahu East District of the Eastern Region has opened a new branch at Suhum bringing to five its branches across the region.
It has also met the Bank of Ghana’s new capital requirement of one million cedis with its current share capital standing at GHc 1,161,466.00 (one million, one hundred and sixty-one thousand, four hundred and sixty-six cedis).
The Vice Chairman of the Board, Peter Hayibor who made these known at the bank’s 25th Annual General Meeting at Abetifi-Kwahu urged existing and potential clients to do business with the new branch to boost deposit mobilisation and urged shareholders to buy more shares to increase the stated capital.
He noted that the bank’s investments shot up from GHȻ14.2 million in 2019 to GHȻ17.1 million in 2020, an increase of GHȻ2.9 million representing 11.3 per cent.
The bank posted a profit after tax of GHȻ32,154 compared to the GHȻ 733,082 in 2019, a decrease of GHȻ700,928 largely due to the non-realization of some returns on investments and higher operating costs partly due to maintaining the Covid-19 safety protocols and higher loans provision.
”Your bank, however, remains liquid, profitable and well-capitalized” the vice-chairman assured.
The Eastern Regional Manager of ARB Apex Bank, Nana Frimpong Dadom who represented the acting managing director said mobile banking has been introduced for all rural and community banks to make banking more convenient for their customers
He gave an assurance that the ARB Apex Bank is in an advanced stage of acquiring the requisite bulletproof armoured bullion vans to serve all Rural and Community Banks.
” Rural and community banks should therefore support all the measures being put in place to ensure that our customers and our assets remain safe” he added
The Eastern Regional Chapter Chairman of the Association of Rural Banks, Seth Adom Asomaning urged Rural and Community Banks to be more creative and innovative in meeting the needs of customers by leveraging on the electronic banking revolution.
The General Manager of Odwen Anoma Rural Bank, Jerron Lennon Laryea commended the board, shareholders, management and staff of the bank for being resourceful and resolute in these trying times when the covid 19 pandemics is ravaging businesses.
The bank has other branches in Koforidua, Mpraeso and Nkawkaw.
By 3news.com|Ghana