Juaben Rural Bank records profit
The Juaben Rural Bank made a profit after tax of GH¢2,388,654.00 in the 2013 fiscal year, as against GH¢1,803,288.00 in 2012, representing 32.46 per cent increase in profit.
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Total assets of the bank grew from GH¢32,534,117.00 in 2012 to GH¢40,392,213.00 in 2013, representing 24 per cent increase.
The bank’s investments increased from GH¢9,780,060.00 in 2012 to GH¢11,941,378.00, in the year under review, representing an increase of 22 per cent, while loans and advances improved from GH¢16,371,549 in 2012 to GH¢18,499,298.00 showing an increase of 13 per cent.
The Board Chairman of the Juaben Rural Bank, Mr Kwabena Asante Krobea, who announced this, attributed the gains made to prudent measures put in place by the board despite the financial challenges that confronted the nation during the 2012/2013 financial year.
He commended the management and staff of the bank for the success chalked up over the years and urged them to keep it up.
The General Manager of the Bank, Mr Noble Kwabena Agyei-Poku, indicated that the bank invested GH¢1,404,514.00 in the agriculture sector in the Ashanti Region, especially in the Juaben area in 2013 as against GH¢432,734.00 in 2012, representing an increase of 224.57 per cent.
The oil palm industry received the greatest support as it happens to be the major source of employment in the area.
Other activities which benefited from the support were citrus and maize cultivation as well as other farming projects.
As part of its Corporate Social Responsibility (CSR), he said the bank spent GH¢52,891.77 to support education, health, sanitation, farmers’ awards and institutions within the bank’s operational area.
The Managing Director of ARB Apex Bank, Mr Kwadwo Ayeh Kusi, in an address read for him, appealed to rural and community banks in the country to train their personnel on customer service to enable them to treat clients with care and respect.
He urged them to put in place measures to guard against fraud and corrupt practices to protect the investments of shareholders.
The Paramount Chief of Asante-Juaben traditional area, Nana Otuo Siribuo II, who chaired the function, eulogised the bank for its support to the people and the creation of jobs for many of the youth who were into agriculture.
