Builsa Bank
declares 197 million cedis profit
All-Share Index hits 900-point mark
Builsa Bank
declares 197 million cedis profit
Sandema (Upper East) 03 April 2001
The Builsa Community Bank at
Sandema in the Upper East Region, made a profit of 197 million cedis last year
compared to 94 million cedis in 1999, representing an increase of 110 percent.
It also mobilised deposits
amounting to 542.2 million cedis from 2,057 customers in 1999, as against 357.7
million cedis from 1,306 customers in 1998.
Chairman of the board of directors
of the bank, Mr Cletus Achaab, said this at the third annual general
shareholders meeting at Sandema.
Mr Achaab said since it was
established in 1996, the bank has continued to record significant growth by
working closely with agencies and organisations in the district to provide
technical assistance to customers who were granted loans to expand their
business.
He however regretted that, members
of about 42 groups that were given loans totalling 92.6 million cedis, have
failed to repay in spite of several reminders.
He cautioned that the bank would
have no alternative than to take legal action to recover the amount.
Mr Achaab said the bank's
long-term objective is to lodge 20 percent of shareholders' yearly net profit
in a development fund for the construction of new offices at Sandema.
It would also mop up excess
liquidity in the system by upgrading the Fumbisi capital mobilisation centre
into an agency and establish "susu" schemes in larger communities, he
added.
The chairman appealed to the
shareholders to increase their shares, since the bank still has about one
million shares to be exhausted.
He commended the board members and
staff for their dedication to duty and expressed the hope that they would
continue to give of their best for the bank to chalk more successes.
GRi…/
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All-Share Index hits 900-point mark
Accra (Greater Accra) 03 April 2001
The All-Share Index of the Ghana Stock Exchange on Monday hit a psychological 900-point mark on Monday when British-American Tobacco (BAT) led a 1.09-points gain of the main market gauge.
Brokers expressed the hope that the index would continue its upward stride to lift the bourse to give investors positive gains.
The index closed trading at 900.35 points compared with 899.26 points on Friday.
In 1998, the market index closed at 868 points, 1999 at 735.39 points and 2000 at 856.28 points.
BAT, the only advancing equity, gained 30 cedis to record a year high of 460 cedis. It closed last week at 430 cedis with the year's low price for the equity at 350 cedis.
Investors clamoured for BAT shares even though it has not declared dividend for the last financial year.
Market activities remained dull despite the positive gain in the market index. The change in the year was up at 4.94 per cent.
Traded volumes opened the week lower at 32,200 from 53,500.
Market capitalisation climbed to 3,724.41 billion cedis from 3,722.34 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 630
AGC 18,500
ALW 7,000
BAT 460 +30
CFAO 60
EIC 2,900
FML 800
GBL 1,300
GCB 1,600
GGL 900
HFC 952
MGL 212
MLC 140
MOGL 18,700
PAF 250
PBC 475
PZ 621
SCB 21,700
SPPC 296
SSB 2,300
UNIL 1,750
CMLT 425
GRi…/
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Accra (Greater Accra) 03 April 2001
Currency Buying Selling
US Dollar 6,999.00 7,212.45
Pound Sterling 9,907.08 10,211.39
French Franc 935.36 963.20
Swiss Franc 4,018.61 4,138.19
Deutsche Mark 3,136.15 3,231.45
Canadian Dollar 4,437.27 4,569.06
Japanese Yen 55.37 57.04
Dutch Guilder 2,784.22 2,867.08
S/African Rand 869.76 895.04
Euro 6,132.14 6,318.54
CFA Franc 9.35 9.63
Naira 64.56 66.52
Ecowas/WAUA 8,832.88 ========
GRi…/
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