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The Association of Rural Banks (ARBs) Apex Bank Limited would soon launch its star product, "Apex Link Money Transfer," onto an Information and Communication Technology (ICT) platform to make banking services efficient, fast, safe and secure. Mr Eric Osei-Bonsu, Managing Director of Apex Bank Limited, announced this at the 15th Annual General Meeting of the North Volta Rural Bank (NVRB) Limited at Guaman in the Jasikan District. He said in line with modernising the national payment system, banking services and supervision, the Bank of Ghana had rolled out new products and services, including the E-zwich, E-Fass, Cheque Codeline Clearing/Automated Clearing House (CCC/ACH) and the automation of 25 Rural and Community Banks (RCBs) under the Millennium Challenge Account. Mr Osei-Bonsu reiterated the need for RCBs to form co-operatives to stay in business. He said this was necessary in view of the changing, challenging, competitive and turbulent landscape of the banking industry. Mr Osei-Bonsu entreated RCBs to familiarize with the Apex Bank Regulation, L.I 1825 and abide by its provision to avoid the imposition of sanctions for non-compliance. He urged rural banks to continue to perform the crucial function of rural intermediation that would lead to economic and social development and transformation and called for optimal support from stakeholders. Dr Patrict Ata, Chairman of the Board of Directors of NVRB, said the Bank was adjudged the second best performer (bracketing with three others by the last quarter of 2008) by the ARB Apex Bank out of 126 RCBs in the country. He said it recorded a 34 percent increase in revenue mobilization of GH� 1.27 million over the previous year's figure of GH� 953,000. Dr Ata disclosed that its investment in treasury bills increased significantly to GH� 620,000 as of 31st December 2008 from GH� 290,000 in 2007. He said total income increased to GH� 447,000 from GH� 294,000 during the period under review with its net profit rising to GH� 128,000 from GH� 82,000. Dr Ata said Directors had agreed to pay dividend of GH� 12,000 from the 2007 figure of GH� 9,000, which represented a 22.4 percent increase per annum on investments. He said the Bank outstripped the three main statutory requirements in the primary and secondary reserves as well as capital adequacy ratio recording 16.6, 48.5 and 31.7 percent compared to eight, 30 and 10 percent within the year under review. He commended Guaman Co-operative Food Farming and Marketing Society for their reliability on loan repayments and urged defaulting societies to emulate their loyalty. Mr Ford Henry Kamel, Deputy Minister of Lands and Natural Resources, suggested RCBs made a strong advocacy for government's intervention because they had the capacity to improve on the local economy and reduce poverty. He said rural banks must strategise to build linkages, form partnerships with the Department of Co-operatives and District Assemblies to improve on welfare of clients while honouring their social responsibilities to their areas of operation. Mr Kamel appealed to shareholders to increase their capital base to empower the Bank to stay in business.