Jaman North DCE commends Suma Rural Bank

Page 23, 16/01/12
Story: Emmanuel Adu-Gyamerah
THE Jaman North District Chief Executive, Hajia Amina Amadu, has commended the Suma Rural bank for its contribution to the socio-economic development of the area.
She said the bank, since its formation, had assisted the assembly to undertake projects to improve the wellbeing of the people.
Hajia Amadu said this at the 25th annual general meeting of the bank .
The Bank recorded GHC108,435.00 as its profit before in 2010 as against GHC64,27.00 it made in 2009.
It also recorded significant growth of 54 per cent in it deposits from the GHC2,030,841.00 at the end of December in 2009 to GHC3,126.00 at the end of December in 2010.
The Chairman of the Board of Directors of the bank, Mr Johnson Ofori Asubonteng, made these known at the meeting.
According to him, the bank’s share capital also went up from GHC155,903.00 as of 2009 to GHC173,399.00 in 2010 while the total asserts grew from GHC2,688,885.00 to GHC3,894,358.00 with the period under review.
Mr Asubonteng also indicated that loans and advances also increased from GHC1,065,430.00 in 2009 to GHC1,176,438 in 2010 while the bank purchased a total of GHC401,000 as against GHC177,492.00 bought in 2009.
He stated that the bank recently opened a new agency at Berekum to increase its agencies to four.
The Senior Manager of the Bank, Mr Martin Adjei Amponsah, who stressed the importance of micro-finance programme said the bank would continue to strengthen its products.
He announced that the bank would soon establish another module under the bank’s micro-finance programme to assist taxi drivers and their owners.
“The product is being packaged by the bank to improve the lots of taxi drivers and their owners to enable them acquire vehicles to improve transport services in the area”, Mr Amponsah explained.
For his part, the Managing Director of the ARB Apex Bank, Mr Eric Osei Bonsu, whose address was read on his behalf, commended the management and staff of the bank for the impressive performance over the years.
While commending the bank, he also cautioned the board, management and staff of the bank not to be complacent but to work harder than before to achieve more laurels in future.