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Asantehene honours Atwima-Kwanwoma Rural Bank   
 
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02-Nov-2009  
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Otumfuo Osei Tutu 11, the Asantehene, has honoured the Atwima-Kwanwoma Rural Bank with a platinum award for its contribution to development projects in the region.

The bank placed 19th in this year's Ghana Club 100.

The Rev. Paul Frimpong-Manso, Chairman of the Board of Directors of the bank, said this at the bank's 26th annual general meeting at Pakyi Number Two in the Amansie West District.

He said the bank's profit before tax dropped from GH913,209 in 2007 to GH786,440 in 2008.

"Cost of computerization and networking took a toll on the finances of the bank", the Chairman said adding however, that total assets rose to GH22,178,657.

That of the year 2007 was 19,704,525.

Deposits increased to GH17,373,235 while loan portfolio went up to 12,508,427 as against GH10,803,529 in 2007.

The bank's shareholders funds increased from GH2,416,550 in 2007 to GH2,670,604 in 2008.

Touching on the bank's social responsibilities, the chairman said the bank was financing the construction of the Atwima-Kwanwoma Senior High School.

The bank has so far committed GH210,844.63 into the construction of 10 classrooms.

The Rev. Frimpong-Manso said the bank continues to offer assistance to needy students from the Junior High School to enter the Senior High School.

The bank has now increased its scholarship of GH80.00 to GH150 per student.

Three students who won the bank's radio quiz competition last year received their scholarship award at the meeting.

The Chairman told the meeting that the bank was assisting in the construction of a Nurses' Duplex at the SDA Hospital at Dominase in the Amansie East District at an estimated cost of GH14,433.50 and the bank has so far provided GH10,000 towards the construction.
 
 
 
 

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