Atwima Kwanwoma donates library to Pakyi community

THE ATWIMA Kwanwoma Rural Bank, headquartered at Pakyi No. 1 in the Amansie West District of the Ashanti Region, has donated a well-furnished library to serve the Pakyi community and its environs. The gesture forms part of the bank's corporate social responsibilities.

The donation was performed during the 26th Annual General Meeting of the bank, which also coincided with its Silver Jubilee Anniversary.

The Chairman of the Board of Directors of the Bank, Rev. Paul Frimpong-Manso, announced a major growth in its operations, leading to a 30% growth in the bank's total assets, from GH¢15,059,799 in 2006, to GH¢19,704,524, in 2007, with total deposits increasing by 27% from GH¢11,969,771 in 2006, to GH¢15, 275,636 in 2007.

Rev. Frimpong-Manso announced further that profit, which was pegged at GH¢627,751 in 2006, increased by 34% to GH¢845,681 in 2007.

Mr. Duke Osam Duodu, Deputy Managing Director of the ARB Apex Bank Limited and Special Guest of Honour, commended the bank for achieving the enviable distinction of being dynamic in developing new financial products, and repackaging existing ones to meet the needs of customers.

He reminded the management of the bank that it had a lot more to do by way of organisational restructuring, effective credit administration and cost control, so as to meet the challenges of the changing competitive business environment.

The Chairman appealed to the shareholders to buy more shares in the bank, to boost the capital base, since every bank thrives on the shares of members.

The Chief Executive of the Bank, Mr. Godfred Odame Asare, assured the shareholders of the bank's commitment to work towards realising its vision of becoming a leading international microfinance banking institution.