Nzema Manle Rural Bank makes GH¢497,530 profit
The Nzema Manle Rural Bank posted a profit before tax of GH¢497,530 for 2012, representing an 86 per cent increase over GH¢257,765 recorded in 2011.
The chairman of the board of directors of the bank, Mr Emmanuel Yankson Kwofie, announced this at the 31st annual general meeting of the shareholders of the bank at Awiebo in the Ellembelle Distict in the Western Region.
Mr Kwofie said in the quest to stabilise and build a reputation for the bank as one of the best rural banks in the country, a lot of measures were put in place, resulting in the growth of the bank’s deposit from GH¢6,723,013 in 2011 to GH¢8,511,621, showing 26.60 per cent increase.
He said the growth in deposit enhanced loans and advances significantly by increasing them from GH¢3,491,129.00 in 2011 to GH¢4,177,245 in 2012, representing an increase of 19.65 per cent.
Mr Kwofie said the total assets of the bank also increased significantly by 24.17 per cent from GH¢8,1713.714 in 2011 to GH¢10,819,951 in 2012.
The chairman announced that the bank offered assistance to communities and institutions in its catchment area as part of its corporate social responsibility.
He said the bank donated GH¢500 towards the Nzema East Municipal Education Service for the Early Childhood Education caregiver trip to Israel, and supported the enstoolment of a queenmother for Ebelemgbane Alonroba Royal Family.
It also gave GH¢200 for the inauguration of the Western Nzema Traditional Council queenmothers association and GH¢2,000 for the Nzema East Municipal Assembly fire disaster programme.
The rest included giving mattresses for the 2012 Nzema District Assemblies Farmers Day celebration.
Mr Kwofie said the board of directors of the bank had instituted the award of an annual bursary to seven needy brilliant children of the shareholders, beginning from the 2013-2014 academic year.
He also announced that the bank had purchased two plots of land at Aiyinase for the construction of an ultra-modern building for the bank’s headquarters and another plot between Anokyi and Baku for the construction of an agency for the community and workers.
The General Manager of the bank, Mr Thomas Quayson, appealed to the shareholders and customers of the bank to purchase more shares to enhance the financial base of the bank.
By J. K. Essien/Daily Graphic/Ghana