Amenfiman Rural Bank posts significant growth

BY: Samuel K. Obour

The Amenfiman Rural Bank at Wassa Akropong  in the Wassa Amenfi East District in the Western Region, has posted a remarkable operational performance in 2012.

The bank’s profit after tax in 2012 stood at approximately GH¢2.3 million which represents a growth of 97 per cent over the previous year’s profit of a little over GH¢1.1million.

The bank recorded a total deposit of about GH¢32 million as against a little over GH¢23.5 million in the previous year representing 36 per cent growth. This was as a result of hard work by the staff and the mobilisation drive pursued by the directors and management.

The bank’s popular “Gye W’akyedie” promotion has been repackaged to offer attractive instant rewards to its depositors.

The Chairman of the Board of Directors, Dr Toni Aubynn, who is also the CEO of the Ghana Chamber of Mines, announced this at the bank’s 29th annual general meeting of shareholders held at the assembly hall of the Amenfiman Senior High School at Wassa Akropong.

According to him, the bank registered a very significant growth in all the performance indicators in spite of the major economic challenges posed by heightened local competition, as well as the negative effects on the bank’s operations.

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The bank in 2012 placed second as the most profitable bank in Ghana out of the 136 RCBs in the country and the number one profitable bank in the Western Region. Again it was classified as a strong bank by the Efficiency Monitoring Unit of the ARB Apex Bank Limited in the 2012 ranking.

Dr Aubynn said the board of directors  would continue to ensure that the financial returns of shareholders of the bank continued to grow as the bank grew.  To this end, the board has proposed a dividend per share of GH¢0.030 representing GH¢186,902.52 in monetary terms.

In all, a total of GH¢26,000.00 was invested in community activities. The community investment includes scholarships and bursaries awarded to children and wards of shareholders and also to brilliant, needy students.

During the period, 106 students benefited from the Amenfiman Scholarship Scheme with over 150 brilliant, needy students at the Amenfiman Senior High School placed on the Amenfiman Bursary Scheme.