Ahafo Community Bank records impressive performance
The Ahafo Community Bank Limited in the Brong Ahafo Region recorded an impressive performance in 2015 in spite of the numerous challenges it faced during the period.
The bank granted loans and advances totalling GH¢2,737,171 to its customers that year compared with the GH¢1,998,305 it gave out the previous year.
During the same period, the bank’s total income increased from GH¢1,496,825 to GH¢1,705,407, while its operating expenses increased from GH¢1,444,770 to GH¢1,668,993.
The Chairman of the Board of Directors of the bank, Rev. Kofi Sakyi, announced this at the bank’s 17th annual general meeting at Kukuom.
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He announced that the primary reserve as of December 31, 2015 was 8.41 per cent, compared to the Bank of Ghana requirement of eight per cent, while the secondary reserve stood at 45.51 per cent as against the required 30 per cent.
Rev. Sakyi stated that in 2015, the bank experienced a heightened competition with the influx of new financial institutions into the operational area.
He stressed the need for the bank to strengthen its capital base and, therefore, urged stakeholders to buy more shares to enable it to withstand the competition posed by the new banks.
The board chairman appealed to beneficiaries of bank loans to repay them for other people to benefit from the facility.
The General Manager of the bank, Mr Evans Opoku Bobie, noted with concern that the recent increase in utility bills and high fuel prices posed a threat to the bank’s growth.
He urged his staff to position themselves to meet the emerging competition and also take advantage of the numerous business opportunities in the area to push the economy forward.
Mr Opoku-Bobie also implored the people to patronise the services offered by the bank.
In a speech read on his behalf, the Managing Director of the ARB Apex Bank Limited, Mr Kwadwo Aye Kusi, commended the management, shareholders, board members and staff of the bank for their hard work and urged them to sustain the spirit.