Suma Rural Bank makes progress

Page 33, Friday Jan 23, 2009
Story: Emmanuel Adu-Gyamerah
THE Suma Rural Bank in the Jaman North District of the Brong Ahafo Region, increased its deposits from GH¢970,472 in 2006 to GH¢1.056 million in 2007.
The share capital of the bank also increased from GH¢50,497 to GH¢56,297 during the same period with its statutory reserve inching up from GH¢54,015 to GH¢54,758.
The Chairman of the Board of Directors of the Bank, Mr F.O Gyan, made this known at the 22nd Annual General Meeting (AGM) of shareholders of the bank at Suma Ahenkro.
He said in order to further increase the bank’s deposits, its microfinance programme had been revamped, with the restructuring of the ‘Susu’ product with more mobile bankers being engaged to undertake door-to-door banking in a number of communities.
In addition, two new investment products, “Big Six” and “Anidaso” had been introduced and their impact had been very effective in the bank’s operations, Mr Gyan said.
According to him, the bank was currently considering re-opening its agency at Camp Junction, near Sefwi-Adabokrom in the Western Region, in order to improve the performance of the bank’s Akuafo Cheque purchases and save farmers in the area from travelling far for banking services.
In an address, the Managing Director of the ARB Apex Bank, Mr Eric Osei-Bonsu called on community and rural banks to ensure good customer care to whip up the interest of their customers in doing business with banks.
He, therefore, called on the banks to invest in customer care by organising regular training programmes for both old and new staff.
Mr Osei-Bonsu also advised the rural banks to always ensure that they selected directors with the requisite education and experience to contribute to the effective management of their institutions.