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<\/p>\n\nGeorge Osei-Ameyaw (right), Board Chairman, Mponua Rural Bank, being supported by Nana Opoku Agyeman II, Chief of Amuana Praso, to cut tape to inuagurate the bank\u2019s new headoffice building <\/p>\n<\/div>\n
Mponua Rural Bank posted a net profit of GH\u00a21.2 million in the 2021 financial year.<\/h2>\n
This is a decline of 19.27 per cent as against a significant growth of 81.56 per cent recorded in 2020.<\/p>\n
The drop, the bank said, was largely due to the change in the weather pattern that prevented majority of cocoa farmers who were granted credit facilities to expand their farms from making repayment on schedule.<\/p>\n
In the year under review, the bank\u2019s stated capital, however, increased marginally to GH\u00a2 2.5 million from the 2020 level representing a slight increase of 0.20 per cent.<\/p>\n
In spite of the profit recorded, the bank pleaded with shareholders to buy more shares to increase its stated capital to strengthen it\u2019s capacity to modernise operations and maintain facilities to desirable standards.<\/p>\n
The chairman of the bank, George Osei-Ameyaw, announced this at the bank\u2019s annual general meeting in the Eastern Region.<\/p>\n
Shareholders\u2019 funds<\/strong><\/p>\n He said shareholders funds showed a growth of 19.84 per cent from the 2020 level of GH\u00a26.1 million to GH\u00a27.3 million in the year under review.<\/p>\n \u201cThe growth in shareholders\u2019 funds was largely attributed by the net profit recorded in the year under review,\u201d he said.<\/p>\n By way of assets, he said \u201cour bank recorded a modest growth in total assets from 2020 level of GH\u00a248.64 million to GH\u00a250.11 million in 2021, representing an increase of 3.02 per cent.<\/p>\n This increase was largely financed by the growth in deposits and shareholders\u2019 funds by 1.59 per cent and 19.84 per cent to the levels of GH\u00a241.32 million and GH\u00a27.34 million respectively.\u201d<\/p>\n The board chairman said the bank\u2019s loan portfolio and investment grew by 98.00 per cent and 0.85 per cent from the levels of GH\u00a26.83 million and GH\u00a225.80 million respectively.<\/p>\n Lending operations<\/strong><\/p>\n Mr Osei-Ameyaw said \u201ctotal loans and overdraft disbursed to support various economic and personal activities in 2021 amounted to GH\u00a224.70 million and this recorded an increase of GH\u00a28.36 million or 51.16 per cent over the amount of GH\u00a216.34 million in 2020.<\/p>\n Corporate social responsibility<\/p>\n By way of the bank\u2019s corporate social responsibility CSR), he said \u201cMponua Rural Bank continues to make sizable investments on that front.<\/p>\n In 2021, he said the bank spent GH\u00a29,933 on CSR in the areas of education, health, and other societal field.<\/p>\n Outlook<\/strong><\/p>\n In spite of the difficult economic conditions in the country, the board chairman said the bank will adopt stringent policies to ensure a sustainable growth in the maximisation of shareholders\u2019 wealth.<\/p>\n \u201cOur bank would focus on recovery of non-performing loans and institute measures to expand the loan portfolio to further stimulate the growth of economic activities in the viable sectors.<\/p>\n We will continue to intensify our deposit mobilisation drive and maintain strong liquidity to provide comfort for depositors,\u201d Mr Osei-Ameyaw said.<\/p>\n<\/div>\n