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30.11.2011 Business & Finance

Kintampo Rural Bank Declares Gh¢500,629 Net Profit

By Daily Guide
Eugene Anthony Osei KofiEugene Anthony Osei Kofi
30.11.2011 LISTEN

The Kintampo Rural Bank in the Brong Ahafo region has declared GH¢500,695 as net profit for the 2010 financial year.  As a result of the sterling performance of the bank, GH¢34,644 would be paid to shareholders as dividend.

Reading the report at the bank's 26 th Annual General Meeting (AGM), the Senior Manager of the bank, Eugene Anthony Osei Kofi thanked the workers, customers, the Board of Directors as well as shareholders for improving the bank.

He said since the establishment of the bank 26 years ago, it has been making steady improvement. 

According to Mr. Osei Kofi, the bank which was ranked the 44 th Member in the 'Club 100' by the Ghana Investment Promotion Centre (GIPC) in the 2009 Excellence Award and the first to receive such recognition in the Rural/Community banking industry in the Brong Ahafo region has never looked back.

He charged the shareholders to buy more shares to enable the bank expand its branches to cover certain areas in the region since the performance of the bank is highly admired by all and sundry. 

He advised the staff of the bank to work hard for the bank to attain more successes so that their salaries, which he described as reasonable, could be increased.  

Mr. Osei Kofi said unlike other financial institutions that entered the Kintampo finance market only to dupe unsuspecting customers, the Kintampo Rural Bank has kept faith with customers for more than two and half decades. 

He therefore appealed to people who have benefited from loans granted by the bank to do well to honour their part of the bargain to enable other customers enjoy the facility.

A member of the Board of Directors of the Bank, Yaw Effah Baafi, who doubles as the Member of Parliament (MP) of Kintampo South and Deputy Minister of Agriculture, was full of praise for the management and staff of the bank.

He also thanked the shareholders for their commitment and zeal and was of the view that many rural banks had collapsed in the system because of mismanagement. 

Hon. Effah Baafi, the affable MP, seized the opportunity to appeal to the people of Kintampo, especially those in the business sector to do business with the bank in order to expand their businesses. 

He noted that the days when monies were saved at homes are gone with the wind and as such people should cultivate the habit of saving not only for the rainy days but to help their businesses grow through acquisition of loans.

 From Eric Bawah, Kintampo
 
 

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