NWABIAGYA RURAL BANK MAKES GHC3M PROFIT

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Nwabiagya Rural Bank with headquarters at Barekese in the Atwima Nwabiagya district of Ashanti made a pre-tax profit of more than three million Ghana Cedis during the 2015 financial year. 

The figure shows a 32 per cent increase over the previous year’s gross profit o nearly two point three million Ghana Cedis.

 The eat empowered the Board of Directors to approve an amount of 771 thousand, 730 Ghana Cedis translating into 45 Pesewas for payment as dividend to the shareholders for the period under review. 

The Chairman of the Board of Directors, Nana Owusu Sarfo Anwona disclosed these at the 28th Annual General Meeting at Barekese. 

During the 2015 financial year, the Bank’s Capital Adequacy Ratio increased from the Bank of Ghana statutory requirement of 10 per cent to 20 point one-five per cent. 

According to the Board Chairman, the Bank’s paid up capital increased by more than 448 thousand Ghana Cedis over the 2014 figure of over one point eight million Ghana Cedis.

 Its net worth as well shot up astronomically from nine point seven million Ghana Cedis to more than 12 point five million Ghana Cedis during the same period. 

Nana Sarfo Owusu Anwona disclosed also that Nwabiagya Rural Bank’s Capital Adequacy Ratio stood at 20 point one-five per cent at the end of 2015 compared with Bank of Ghana’s 10 per cent requirement. 

Also, the Bank granted an amount of 25 point eight million Ghana Cedis in loans and Advances to its customers in 2015 while it was able to mobilize a deposit of 63 point-seven million Ghana Cedis representing 36 per cent increase over the previous year’s 46 point-nine million Ghana Cedis. 

The Bank spent a total o 128 thousand, 167 Ghana Cedis on social projects as part of its corporate social responsibility in its operational area.

 Key among these projects is the construction of a Health Centre at a cost of nearly 55 thousand, 600 Ghana Cedis at Adankwame. 

Meanwhile, the Bank has introduced an Automated Teller Machine, ATM, to enable its customers to access their funds anytime. 

It plans also to introduce point-of-sale devices to further bring banking services closer to its customers, particularly market women.

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