Begoro(E/R), Nov. 2 - GNA - The Eastern Region President of the Association of Rural Banks, Nana Apau Adom Ampadu, has called on rural banks not to regard the opening of new banks as a threat to their operations in the rural communities.

Nana Ampadu made the call when opening the Begoro Agency of the Atiwa Rural Bank at Begoro on Friday.

He asked rural banks to see view opening of new banks within the same community as a measure to encourage a healthy competition among them.

He said the monopoly of one rural bank in a community had been a disservice to rural dwellers and the time had now come to establish a healthy competition by breaking that monopoly.

Nana Ampadu, who is also the Chairman of the Board of Directors of the Atiwa Rural Bank said the bank, since its establishment in 1982 had opened agencies at Anyinam, Akim New Tafo, Koforidua, Akim Takyiman, Asiakwa and Begoro.

Nana Ampadu said the bank had also provided a lot of assistance to individuals, institutions and communities.

He mentioned some schools, which benefited from furniture packages as Osiem and Kukurantumi Islamic primary, Osiem and Old Tafo-Akim Roman Catholic primary, Akim Maase and Anyinasin Methodist Prmary, and Akim Maase, New Tafo and Old Tafo Presbyterian Primary.

He said the bank also provided potable water for the Old Tafo Akim and Akim Sekyere communities.

The Manager of Atiwa Rural Bank, Mr Ericson Emmanuel Otchere, urged customers to save with the bank to enable them to gain access to soft and long-term loans.

The District Chief Executive for Fanteakwa, Mr Ebenezer Ofoe Caesar asked rural banks to go by the policy of the rural banks by granting loans to rural farmers and also to contribute a percentage of their dividends to the District Education Endownment Fund to establish scholarship schemes for brilliant but needy students.

The Ankobeahene of Begoro, Nana Agyako Mamfo commended the Board of Directors of the Atiwa Rural Bank for opening an agency at Begoro. He asked rural banks to reduce interest rate on loans granted to customers.