The Sekyere Rural Bank grew its gross profit by GH¢1.16 million, representing 109 per cent, in 2012.
The bank’s total deposits also increased from GH¢20.8 million in 2011 to GH¢24.6 million in 2012.
The Board Chairman of the bank, Mr Sarfo Adjei, disclosed those at its annual general meeting held recently.
He added that the board had recommended a dividend of 45Gp per share, amounting to GH¢241,002.
Mr Adjei said the bank had also supported some needy institutions in the areas of health care, social services, among others, with a total of GH¢13,778 under its corporate social responsibility programmes.
Going forward, Mr Adjei said the board and the management would continue to take strategic decisions which would help improve the performance of the bank, including strengthening its marketing unit and researching into the needs of its customers to enhance effective banking.
The Deputy Managing Director of the ARB Apex Bank, Mr Duke Osam-Duodu, commended the bank for its achievements, and called for more efforts at deposit mobilisation, expansion of its capital base and cost control.
He said the general observation of the ARB Apex Bank was that most of the rural banks did not submit their financial returns on time to the Bank of Ghana for supervision.
Mr Osam-Duodu pointed out that that practice undermined the banking regulation for effective banking, and called for sanity in the operations of rural banks.
He said the primary responsibility of the Apex Bank was to develop products for the rural banks, and that it had commenced implementing branchless banking with the procurement of the Temenos Arc Mobile Platform.
He said branchless banking allowed financial institutions and other commercial actors to offer financial services outside traditional bank premises by using delivery channels such as retail agents, merchants and mobile phones to increase the financial service outreach to the un-banked in the communities.
He stated that today’s banking was dependent on the provision of quality services for customers and, therefore, it was important for the bank to address customer service by investing in training programmes that would enhance staff improvement on service delivery and corporate image.
He said the ARB Apex Bank had instituted an information and communications technology (ICT) security policy that would ensure that risks associated with the implementation of ICT products were reduced to the minimum.
He said in order to improve effective banking, the ARB Apex Bank had reduced the interest rates on its lending to the rural and community banks from 20 per cent to 15 per cent, aimed at boosting banking in the country.