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31.10.2004 Regional News

Odotobri bank to help reduce poverty

By GNA

Jacobu (Ash), Oct 31, GNA - The Odotobri Rural Bank at Jacobu is to expand its micro-financing activities to assist poor but productive people in the bank's operational area, to support the government poverty reduction programme.

Already, the bank had formed 36 groups comprising 1,440 women who are expected to receive one million cedis each. Mr Godfred F. Opoku, the Supervising Manager of the bank, announced these when he presented the 'Ghana Club 100 Award' the bank won this year to the bank's board of directors at Jacobu in Ashanti on Friday.

The Ghana Award was organised by the Ghana Investment Promotion Council (GIPC) to honour 100 best manufacturing and financial companies in the country.

Odotobri Rural Bank placed 51st and was honoured with a beautiful plaque.

Mr Opoku said the bank's deposits base were being enhanced through the Apex Link and 'Anidaso' Insurance Plan products as well as the overdraft and loans facilities for salaried workers. He said the award was based on the bank's sound management practices, profitability, growth, returns on equity and assets adding that it was the first time rural banks have been recognised by the Ghana Club 100.

He said once the bank was growing, its impact on the catchment area would be more positive.

Mr Opoku commended the board for offering good policy direction that had enabled the bank to gain national recognition and urged the board to continue to encourage the management and staff to improve upon the achievement.

Mr J. Owusu-Boadi, the chairman of the board, said every encouragement would be given to the management to exercise the expected internal controls whilst the staff would be motivated to enable the bank to chalk more successes.

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