THE South Akim Rural Bank headquartered at Nankese in the Eastern Region has now taken the first position among the 21 rural banks in the region in terms of deposits of which the bank recorded GH¢5,425,739 last year.
The figure constituted a growth of 28 per cent over the GH¢4,304,498.00 it recorded in 2006.
Its total assets, which also grew by 26 per cent from GH¢5,272,288.00 in 2006 to GH¢6,646,673.00 last year, also placed the bank at the second position.
These remarkable achievements of the bank were announced at the 23rd annual general meeting of the bank at Nankese on last Saturday.
According to the Chairman of the Board of Directors, Mr William Kwadwo Boateng, the bank recorded pre-tax profit of GH¢190,386.00 in 2007 as against GH¢102,076.00 made in 2006.
He said the credible performance of the bank made it possible to give out GH¢2,450,744.00 as loans last year as against GH¢1,879,856.00 the previous year, an increase of 30 per cent.
With regard to the bank’s social responsibility, Mr Boateng announced that within the period, it awarded scholarships to 14 students in senior high schools, bringing the total number of such beneficiaries to 55 since the scheme was established in 2003.
The bank, he said, had also completed a process of land acquisition for a proposed senior high school for Nankese.
Other initiatives that the bank carried out for the communities within the period included the rehabilitation of the Suhum District Police barracks and a donation of a gas lamp and refrigerator to the Nankese Clinic.
The Deputy Managing Director of the ARB Apex Bank, Mr Duke Osam-Duodu, explained the numerous benefits of the e-zwich system of payments at the bank and other business transactions and advised the shareholders and customers to embrace it.
The Nankesehene, Nana Annor Marfo II who was appreciative of the bank’s contribution towards poverty reduction in its catchment areas, however appealed to it to provide a library for Nankese.
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