Power Crisis Increasesed Our Operating Expenses- General Manager

General manager of Akwapim rural bank limited, Stephen K. Bedu has retriated that the current power crises in the country has increased the bank’s operating expenses due to astronomic increase in fuel consumption. According to him, the bank’s operating expenses increased from 4, 990, 702.00 cedis in 2014 as compared to 4, 127, 750.00 in 2013.

Mr. Stephen Bedu made this assertion at the 34th annual general meeting of the bank at Mamfe-Akwapim in the eastern region.

He however emphasised that the bank made a profit before tax of 1, 991, 61.00 cedis which represents 10% of 1, 810, 04.00 cedis in 2013 whiles total assets rose from 30, 729, 30.00 cedis in 2013 to 32, 342, 19.00 in 2014 which also represents 5.2%.

” We are almost done with preparations to open new branches at Suhum and Madina in the Greater Accra region in order to open up our operational areas. We wil also continue to oblige our coperate social responsiblity at all times” he added.

Mr. Bedu was therefore worried that the bank recorded a decline in 2014 by recording 11, 842, 482.00 cedis last year as compared to 12, 613, 659.00 cedis in 2013 which he attributed to the bank’s inadequate disbursement of term loans in the past. He said management would work hard to retrieve all loans which are unpaid and also appealed to shareholders to always pay up their loans on time.

Mr. Bedu commended the board, management, staff and the entire shareholders for their hardwork which has contributed to the growth of the bank and also called for their collaborative efforts in the years.

Some shareholders who spoke to the reporter were also grateful to the board and management for their input which has increased the bank’s output significantly.

Meanwhile, mr. Ken Adu-Siaw was named the employee of the year.


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