South Akim Rural Bank funds projects for Nankeseman SHS
South Akim Rural Bank Limited at Nankese in the Suhum Municipality is providing funds for a number of facilities for the Nankeseman Senior High School in the Eastern Region to give the institution a facelift.
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So far, a total of GH¢400,000.00 has been spent on some projects for the school over the past five years, including the construction of a one-storey classroom block.
As part of its social responsibility, the bank also awarded 21 scholarships to students in the bank’s catchment area in senior high schools this academic year, and intends to increase the number of beneficiaries to 35 students every year.
The Chairman of the Board of Directors of the bank, Mr William Kodwo Boateng, who announced this at the 31st Annual General Meeting of shareholders of the bank at Nankese, expressed appreciation to the Nankese community for providing communal labour in support of the project.
Credit to customers
He said the bank, in addition to donating to educational and health institutions, also disbursed a total of GH¢ 210,000 to 3,637 customers, mainly women groups from July 2011 to April 2016.
He said the total assets of the bank increased from GH¢ 39.6 million to GH¢48.9 million, an increase of 23.6 per cent in 2015, compared with 25 per cent in 2014, while the deposit base also increased from GH¢29.7 million to GH¢ 37.5 million in 2015.
He said the stated capital of the bank had also increased from GH¢1,347,024.00 to GH¢1,669,314, an increase of GH¢322,290.00.
The Head of Finance of the ARB Apex Bank Limited, Mr Kwaku Acheampong Ababio, commended the South Akim Rural Bank Limited for its performance and encouraged other rural banks to emulate its example.
