OUT of the 20 Rural and Community Banks (RCBs) admitted to the Club 100 last year, as many as five of them are from the Eastern Region.
In all, there are 130 RCBs in the country.
A document made available at the 16th biennial general meeting of the Association of Rural Banks in Koforidua last week named the five banks as South Akim Rural Bank which took the first position; Akuapem Rural Bank, second; Upper Manya Kro Rural Bank, third; Adonteng Community Bank at Akyem Tafo 19th and the Kwahu Rural Bank 20th.
The significant improvement of the five banks, according to sources, had been due to prudent measures instituted by the boards of directors which were effectively carried out by their management.
The source said that made it possible for the five banks to make more profits, increase deposits, assets as well as loans and overdrafts to customers.
The source stated that the operations of the banks in the Eastern Region had boosted the rural economy, especially the agricultural sector where a number of farmers cultivating various cash crops like cocoa and food crops benefited from loans to expand their farms.
The three-day meeting on the theme: “An Effective and Human Resource Management: Key to the Sustainability of the Rural Banking System” was attended by members of the boards of directors, managers and other senior officials of the RCBs in the region.
The meeting was to take stock of the previous year’s activities and brainstorm how best to address inherent challenges with the view to improving the fortunes of the RCBs to make it possible for the banks which are located in the rural areas to give out more loans to the people and also honour their social responsibilities, all geared at improving the lot of the people in their operational areas.
Addressing the participants, the President of the Association of Rural Banks, Mrs Rose E. Newman, said banking had become very competitive and unless RCBs undertook a vigorous programme to further improve the performance of their staff to attract customers, the orthodox banks would always be in advantageous position.
“We are in competitive banking which demands that our staff should be well-trained to make it possible for us to favourably compete with the old orthodox banks,” she stated.
Mrs Newman was hopeful that participants would come out with useful suggestion that would ensure the growth of the RCBs to be able to continue to assist in the development of not only the rural communities but the country as a whole.
She also commended the banks for the significant role they had played in the socio-economic development of rural communities.
Mrs Newman, however, advised them not to relent their efforts since such initiatives would go a long way to improve the lot of rural dwellers in line with the government’s “Better Ghana” agenda.
The Deputy Eastern Regional Minister, Baba Jamal Mohammed Ahmed, commended the RCBs for their tremendous contributions towards the development of rural communities, especially the offer of scholarships to brilliant, needy students as well as the provision of social amenities.
He said in recognition of the role being played by the RCBs, the government would be channelling funds through them on a number of poverty alleviation programmes in rural communities.
Baba Jamal, therefore, called on management of RCBs to prudently manage the funds.
He also urged management of the RCBs to increase their micro-finance schemes to boost trade and industry in the rural areas to improve the lot of the people.
The Omanhene of New Juaben, Daasebre (Prof.) Oti Boateng, who chaired the function, said since only 30 per cent of Ghanaians were into banking, RCBs should rope in more customers to increase the figure to at least 70 per cent, as it was only in such a situation that rural communities could develop.
He also suggested that all RCBs should be linked to enhance their operations.
Daasebre Oti Boateng called on entrepreneurs to invest in the rural areas because the RCBs would be willing to assist.
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