• Live Radio
  • Videos
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Live Radio
    • Photos
  • Election 2020
Local News
 
 
 
Home Business Banking/Finance 201111

Juaben Bank Posts 42.65% Growth In Profit

08-Nov-2011
/ Banking/Finance, Business
Email
Print
Comments 0
(0)
Comments
Share on Facebook Share on Twitter
 

The Juaben Rural Bank Limited at Juaben in the Ejisu - Juaben Municipality of Ashanti Region has recorded very remarkable progress in the 2010 year under review.

The Bank consolidated its strength in profitability and recorded an annual operating profit before tax of a little over GH�1million as compared to approximately GH�710,000 made in 2009, representing a 42.65% increase. With this sterling performance, the Bank came 3rd in both the National and Ashanti Rural Banks� ranking in terms of profit.

The Bank was also first in the area of cost & income ratio among the rural banks in the country. This remarkable feat was achieved as a result of pragmatic policies and prudent management of the resources of the Bank.

The Chairman of the Board of Directors, Mr. Kwabena Asante Krobea, announced this at the Bank�s 26th Annual General shareholders meeting held recently.

According to him, the Bank registered a very satisfactory performance in all the performance indicators in spite of the major economic challenges posed by heightened local competition as well as the many negative effects on the operations of the Bank.

He however mentioned the relative stability in the Global economy during the year 2010, although prices of primary commodities including oil continued its upward trend. On the other hand, he said, these were marked by macro-economic stability in the Ghanaian economy.

The Ghanaian cedi performed creditably against all the major currencies and year-end inflation fell from 18% at the end of 2009 to 9% by the 31st of December 2010.

During the same period, the Central Bank�s Prime Rate dropped to 13.5% from a figure of 18% in the year 2009.

The reduction of Prime Rate by the Bank of Ghana brought in its wake a fall in the rate of Treasury bills from which the Bank derives a large chunk of its income. That notwithstanding, the managers of Juaben Rural Bank put in place sound policies to minimise the effect that the fall in Treasury bill rates should have had on the Bank.


In spite of the challenges encountered in the year under review, the bank�s performance for 2010 was very encouraging as shown in the table below.

Source: B&FT

 

 
 

 

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

CHRAJ�s Low Funding Hampering Work

Next Post

GLICO General Gets A-Rating

 
 

More Stories

BoG To Reverse FX Control Measures
Absa Bank MD Is CEO Of The Year - Banking Sector
Urgent Warning To Mobile Banking Customers...
BoG Seeks Major Reforms
OmniBSIC Bank Delivers Strong, Resounding Results
Ecobank Double Salary Promotion Reloaded launched to Reward Existing, New Salaried Account holders
Absa Bank Takes Flagship “Readytowork” To Ghana’s Northern Region
UMB Confident Of Growth With Focus On Digital Channels And Platform Play
Fidelity Bank Rewards Customers With GH610,000 In Sika Bumm Promo
Next Post

GLICO General Gets A-Rating

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Banking/Finance Stories

  • BoG To Reverse FX Control Measures

  • Absa Bank MD Is CEO Of The Year - Banking Sector

  • Urgent Warning To Mobile Banking Customers...

  • BoG Seeks Major Reforms

  • OmniBSIC Bank Delivers Strong, Resounding Results

  • Ecobank Double Salary Promotion Reloaded launched to Reward Existing, New Salaried Account holders

  • Absa Bank Takes Flagship “Readytowork” To Ghana’s Northern Region

  • UMB Confident Of Growth With Focus On Digital Channels And Platform Play

  • Fidelity Bank Rewards Customers With GH610,000 In Sika Bumm Promo

  • Meeting Customers On Their Turf: Absa MD Hits The Market

 

 
 

Popular Videos

MIDDAY NEWS 24/05/23

MIDDAY NEWS 25/05/23

Ade Akye Abia With Kwame Nkrumah Tikese On Okay 101.7 Fm (24/05/2023)

LATE NEWS DISCUSSION 24/05/23

ADEKYE NSROMA: ENDING OBSTETRIC FISTULA BY 2030 24/05/23

Ade Akye Abia With Kwame Nkrumah Tikese On Okay 101.7 Fm (24/05/2023)

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Live Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Live Radio
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media