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07.10.2004 Regional News

Rural banks to syndicate transactions

By GNA

Kpando, Oct. 7, GNA- Mr. Emmanuel K. Kwapong, the Managing Director of ARB Apex Bank Limited, announced on Wednesday that the Bank would soon establish modalities for syndication among the rural banks to boost their financial leverage for prudent support to clientele.

Mr. Kwapong announced this in an address read on his behalf at Kpando, during the inauguration of the Kpando Agency of the Weto Rural Bank Limited.

He entreated the rural banks to collaborate with corporate organizations like the Ghana Export Promotion Council and the Ghana Standards Board to explore business avenues.

Mr. Kwapong said the Apex Bank would look for funds for the rural banks to support potential exporters and also generate wealth in their catchment areas.

He said efforts were being made to strengthen and enhance the capacity of the rural banks through training and introduction of new products. "It is incumbent... that with the expansion, the appropriate mechanisms for ensuring sanity in the operation... of Kpando Agency are quickly established," he said.

Mr. Pius K. Adanuti, the Kpando District Chief Executive, implored the local bank to take advantage of information, communication and technology to provide fast, attractive and efficient services to win more customers.

He said Management should explore business opportunities beyond their traditional scope and venture into prospective areas like agriculture, tourism and lake transport.

Mr. Adanuti said: "In the face of competition, it is only those who are innovative, who stand tall".

Mr. David Y. Kludje, the Chairman of the Board of Directors of the Weto Bank said the financial institution would soon float shares and invited the general public especially the business community to take advantage of it.

He called on the people to adopt the attitude of savings, adding, they must erase the negative impression that only surplus monies could be saved.

Togbe Dagadu VII, Paramount Chief of Akpini Traditional Area, urged the people take advantage of the flexible business terms of the Bank.

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