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01.01.2007 Business & Finance

Apex Bank Assures Rural Banks

By Daily Graphic
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The ARB APEX Bank has underscored its commitment to provide banking and non-banking support services on a holistic basis to rural and community banks (RCBs).

This is to help them improve on their operational efficiency and customer services to make them credible financial intermediaries to respond to the needs of their customers.

In this regard, the ARB APEX Bank has over the years undertaken a number of activities which have helped to strengthen the operations of RCBs.

The Head of the Training Department of the bank, Mr. Richard Mettle Addo, stated these at the 22nd annual general meeting of the Akoti Rural Bank at Assin Bereku.

Mr Addo said as a permanent solution to the training needs of the RCBs, the ARB APEX Bank had acquired a 50-acre land for the establishment of rural bank training school at Nsoatre in the Brong Ahafo Region for the training of management and staff of RCBs.

He said some management and directors of RCBs did not have the competencies and experiences needed to manage banks and the Bank of Ghana policy on directorship and management of banks required the appointment of non-executive administrators who pass the test to run the affairs of the banks.

He therefore urged shareholders not to compromise on competence and integrity when electing directors.

The Manager of the bank, Mr Felix K. Annor, said the bank had submitted a micro- financing proposal to the United Nations Development Programme on the Assin North District for the promotion of small-scale businesses.

The Chairman of the Board of Directors, Mr. B.K. Addei, said the bank entered into a three-year loan agreement with Plan Ghana beginning in 2003 and that an amount of ¢765,065,300 was disbursed to beneficiaries in 2003.

He advised shareholders to increase their share capital for the growth of the bank.

Story by Joe Okyere,