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29.08.2004 Business & Finance

Akyempim Rural Bank makes more profit

By GNA

Gomoa Dawurampong (C/R), Aug 29, GNA - The Akyempim Rural Bank at Gomoa Dawurampong in the Central Region made a profit after taxation of 536,790,909 cedis in 2003 as against 246,211,644 cedis in 2002. Income of the bank was 2,154,198,391 cedis in 2003 as against 1,249,167,356 cedis in 2002.

The Vice Chairman of the Board of Directors of the Bank, Colonel Kingsley Nyame, said this at the 19th Annual General Meeting of the bank on Saturday.

Col Nyame said customers' deposit increased by 40 per cent from 4.7 billion cedis in 2002 to 6.6 billion in the year under review while assets increased from 6,193,919,818 cedis to 9,124,776,988 cedis in 2003.

He said the board had recommended a dividend of 60 cedis per share amounting to 62,405,940, representing an increase of 10 cedis per share over last year's dividend.

Col Nyame said the bank gave out loans and advances totalling 2,378,550.000 cedis to 1,085 beneficiaries, with education receiving the highest.

He said in the year 2002 a total of 750 beneficiaries received 1,136,680,000 cedis.

In a message, the chairman of the ARB Apex Bank, Mr. Alex Kwapong, appealed to local people who have knowledge and expertise in banking to offer such expertise to their banks to enhance their growth. He said that the Apex Bank was helping to equip rural banks to ensure their smooth operation.

Later the chairman of the board, Mr Emmanuel Anno, presented four hospital beds and mattresses valued at 6,220,000 cedis to the Gomoa Obuasi clinic.

Miss Grace Adokoh, Midwife Superintendent In-Charge of the Clinic received the items and thanked the bank for the donation. 29 Aug04

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