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Amanano Rural Bank declares GH243,342 profit
 
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27-Oct-2009  
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The Amanano Rural Bank Limited made a net profit before tax of GH243,342 on its operations, last year, Mr Isaac Asante, Chairman of the Board of Directors, has announced.

This represents an increase of 37 per cent over the previous year's GH177,223.

Addressing the 22nd annual shareholders general meeting at Nyinahin in the Atwima-Mponua District, he said, its share capital also rose from GH101,725, in 2007, to GH151,850, in 2008, a 49 percentage jump.

He said as part of measures to help boost the economies of the predominantly farming communities, where it is doing business, the bank has supported 172 groups with a total of GH351,272 to expand their income generating activities.

The beneficiaries are into transport operation, agriculture and trading among others.

Mr Asante also touched on the Akuafo Cheque and said they bought a total of GH4,121,141 during the period under review as against GH3,516,288, in 2007.

Credit to salaried workers soared to GH1,469,000 from GH961,940.

He said due to its remarkable performance it has been ranked first in Ashanti by the ARB Apex Bank's Efficiency Monitoring Unit (EMU) and moved from the 72nd to the 53rd position in the Ghana Club 100 ranking.

In addition, it won gold in the Ashanti Financial Services Excellence Awards held under the auspices of Asantehene, Otumfuo Osei Tutu II.

Mr Asante said the bank is not only out there just to make profit, but it has been alive to its social responsibility.

The shareholders of the bank agreed to transfer GH15,815 of the declared profit for the year into shareholdings to raise the bank's capital base.

Mrs Theresa Adomako Tawiah, Atwima-Mponua District Chief Executive, Mr Isaac Kwame Asiamah, Member of Parliament (MP) for the area and Nana Amanpene Boateng Twum, Chief of Nyinahin, took turns to praise the Bank for its performance.

 
 
 
 
 

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