Complete headquarters of Mponua Rural Bank — Shareholders
Shareholders of the Mponua Rural Bank Limited at Amuana Praso in the Eastern Region have appealed to the management of the bank to endeavour to complete the headquarters’ building project initiated almost a decade ago.
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According to them, when completed, the building will make the bank more visible and also inspire more confidence in the customers of the bank.
They appealed for better conditions of service for the workers of the bank to motivate them in the discharge of their duties.
The shareholders, who made the appeal at the 20th annual general meeting of the bank at Amuana Praso, commended the board of directors of the bank for working hard to make the bank become one of the best in the Eastern Region.
Responding, the Chairman of the board of directors of the bank, Mr George Osei Ameyaw, gave an assurance that all the concerns of the bank were well-noted and would be taken care of.
In his annual report, Mr Ameyaw said, "The board did not recommend the payment of any cash dividend in view of our bank's deficit in the minimum capital requirement. With this, the directors recommend the issue of bonus shares with a total value of GH¢234, 546.16. That is for every one ordinary share held, one bonus share will be issued for the year ended December 31, 2013,” he added.
He said this was to ensure that the bank met the minimum capital requirement set by the Bank of Ghana for its operation and also have a buffer against future upward adjustment by the regulator.
He, therefore, said the new stated capital of the bank would be GH¢469,884.82, after the proposed bonus issue had been approved by the shareholders.
He announced that the bank recorded a gross profit of GH¢ 424,235.75 in the year 2013 from which tax of GH¢33,938.86 was deducted, giving a net profit of GH¢390,296.89, thus recording a growth of 11.14 per cent in profit from a level of GH¢351,187.96 achieved in 2012.
Mr Ameyaw said the bank increased its investment in government treasury bills by 18 per cent from GH¢2.75 million to GH¢3.25 million as of the end of 2013.
"The bank disbursed loans and overdraft facilities to the tune of GH¢4.95 million to its customers in 2013 as against GH¢4.86 million recorded in 2012, portraying a marginal growth of two per cent. The total assets also increased from GH¢8.34 million recorded in 2012 by 18 per cent to the level of GH¢9.80 million in 2013 with deposits being the predominant source of the growth", he added.
The chief of Amuana Praso, Nana Opoku Agyeman, urged the staff of the bank to take customer care seriously by showing respect to all those who transacted business at the bank.
He commended the board of directors of the bank for working hard to lift the bank to its present level.