The Atwima Mponua Rural Bank Limited at Toase in the Atwima Nwabiagya district of Ashanti Region has recorded a profit before tax of approximately GH¢1.130million in the 2014 year under review, as against a little over GH¢ 1million in 2013 -- representing a growth 12.97%.

The bank put up a very satisfactory performance in all other areas: including Deposits, Loans & Advances, Total Assets, Shareholders’ Funds and Stated Capital as well as Investment.

These and more were made known by Chairman of the Board of Directors Mr. Charles Opia Mensah, during the bank’s 31st Annual General Shareholders’ meeting held last Friday.

According to him, the bank registered very satisfactory growth in all the performance indicators in spite of the major economic challenges posed by heightened local competition and other negative effects.

He mentioned that the nation’s economy faced major challenges in the form of currency depreciation, deepening energy crisis, deteriorating macroeconomic imbalance, rising inflation and interest rates, as well as hikes in the price of petroleum products and utilities.

Inflation in the Ghanaian economy continued its upward trajectory, hitting 17% at the end of 2014 from 13.5% at the end of 2013. “The year under review has been one of the most difficult years in recent times for the economy,” he stressed.

The domestic economy was also confronted with inadequate power supply during the period under review, and undoubtedly increased cost of doing business -- which affected bank’s the profitability as it could not make much gain from granting loans and advances. Most people either intentionally or otherwise could not meet their obligations to the bank because of several factors.

In spite of the challenges mentioned, the bank performed satisfactorily well during the year under review as shown in the table.

In line with the 25% dividend policy adopted by shareholders at the bank’s 2008 AGM, the Board has proposed dividend payment of GH¢ 0.043 per share amounting to GH¢258,096; as against GH¢0.0509 per share amounting to GH¢ 226,757 proposed the previous year.

In fulfillment of its corporate social responsibilities, the bank spent an amount of GH¢108,417 in 2014 as donations and contributions as against GH¢111,171 in 2013. Areas that benefitted included education, district Farmers’ Day celebration, and donations toward national projects among others.

The General Manager of the bank, Mr. Noble Issah Mogtari, in an interview with B&FT said he and his management team will continue to pursue policies aimed at maximising more profits and giving exceptional customer satisfaction.

According to him, the bank continues to emphasise human capital development as a key component in its growth strategy. He stressed that the bank believes its effectiveness hinges on harnessing the various talents of the staff and also continuing to make substantial investments in staff training and development.

Mr. George Kwaku Annor, Kumasi Branch Manager ARB Apex Bank, on behalf of the Managing Director of Apex Bank Mr. Kwadwo Ayeh-Kusi urged the RCBs to invest in staff training programmes to build the capacity of their workers and improve customer care.
“Integrity must be the watchword, and RCBs must endeavour to build a good corporate image for themselves to ensure the loyalty of customers,” he stated.

The Board Chairman, in his concluding remarks on behalf of the Board, expressed his appreciation to Management and Staff of the bank for their contribution to the successful results achieved in the 2014 year under review.