Kwaebibirem Rural Bank returns to profitability

The Kwaebibirem Rural Bank Limited at Akyem Asuom in the Eastern Region posted a profit of GH¢86,155 in 2014 after making a loss of GH¢406,654 in 2013.

The bank’s shareholders fund also closed the year at GH¢370,000.

E-banking

The Chairman of the bank’s board of directors, Mr Carlos Kingsley Ahenkora, said the bank had partnered with the ARB Apex Bank Limited to use smartphones to collect monies from clients under the microfinance scheme.

With the initiative, Mr Ahenkora said there would be a direct transaction on the field with the office while the client received instant message on the status of the account.

He said the programme had helped to improve the bank’s deposit mobilisation scheme, especially in remote communities.

He said the microfinance scheme introduced earlier had so far given out GH¢1.5 million individuals and organisations since its inception.

Loan defaulters

The board chairman advised all loan defaulters of the bank to make good their indebtedness to avoid any legal action.

He said the bank had resolved to retrieve all monies loaned to people through whatever means possible.

He thanked all those who have assisted the management of the bank to save the bank from total collapse.

The Head of Finance at the ARB Apex Bank Limited, Mr Kwaku Ababio, said his outfit had given the go-ahead to 30 rural banks to introduce Automated Teller Machines (ATM) that would be used on a pilot basis.

He gave the assurance that the bank would assist rural banks to realise their full potential by contributing significantly to the socio-economic development in their catchment areas. – GB