Nankese (E/R), Sept. 29, GNA - The Board of Directors of the South Akim Rural Bank, had sacked six members of staff for engaging in visa racketeering and other fraudulent practices.
The Chairman of the Board, Opanyin Kwasi Gyasi who announced this at the Bank's 19th Annual General Meeting at Nankese, near Suhum, said the fraudulent deals especially the issuing of false bank statements, was detected by the Bank of Ghana.
He said the ARB Apex Bank, assisted in the investigations, which led to the arrest of the culprits.
Opanyin Gyasi said the appointment of Mr Kwaku Boamah, a Marketing Manager, was also terminated, when he refused to utilise 11 million cedis he collected from the Koforidua Branch, to pay for wax prints and other goods meant for the Bank's annual raffle draw for best customers. In a related development, Mr G.A. Addo of the Asamankese Branch had been dismissed for embezzling 9.45 million cedis from a dormant account.
Opanyin Gyasi said the Bank increased its profit margin from 689.809 million cedis in 2002 to 1.539 billion cedis in 2003.
The Bank also made a total income of 4.873 billion cedis from the previous 2.937 billion cedis.