Kwahu Rural Bank records more deposits
Pepease (Eastern Region) 17 July 2000
The Kwahu Rural Bank mobilised 1.8 million cedis as deposit last year as against 1.2 million cedis in 1998, representing an increase of 50.81 per cent.
The bank's investment also rose from 722 million cedis to 1.240 million in the same period, which represents an increase of 71 per cent while loans and advances went up from 879 million cedis two years ago, to 1.4 billion cedis.
The Vice-Chairman of the Board of Directors, Mr Ernest Apeadu, told the 18th Annual General Meeting of the Bank at Pepease in the Kwahu South District that the assets and liabilities of the bank rose to 38.54 per cent from 1.8 million cedis to 2.5 million cedis and recorded a net profit of 160.9 million cedis as against 177 million cedis.
Mr Apeadu said that the Bank mobilised 41.1 million cedis as share capital as against 439 million cedis and therefore appealed to shareholders to abide by the decision to increase their shares to a minimum of 100,000 cedis.
He said 19.8 million cedis was paid as dividend to shareholders while 70 million cedis was spent on the construction of an office building at Pepease.
GRi../