North Volta Rural Bank increases lending to clients

BY: Tim Dzamboe
Ms Attipoe addressing the shareholders
Ms Attipoe addressing the shareholders

The North Volta Rural Bank with headquarters at Guaman in the Jasikan District of the Volta Region is making a positive impact in the lives of the people in the northern sector of the region as it has extended credit in the form of loans and overdrafts to their increasing number of customers over the years.

The bank increased lending from GH¢3,231,758 in 2016 to GH¢3, 637,848.88 in 2017.

A total of 5,347 individuals in agriculture, trading, transport, cottage industry and salaried workers benefited from the loans.

The Chairman of Board of Directors of the bank, Dr Patrick Ata, said this in a speech read on his behalf at the 24th annual general meeting (AGM)  at Guaman–Buem.

He said the growth in lending was higher by 12.57 per cent but the high administrative and general expenses over weighed efforts of the bank to sustain profit performance.

Minimum  capital

Dr Ata disclosed that a few shareholders of the bank had made a commitment to inject more capital to meet the GH¢5 million minimum capital as requested by the Bank of Ghana.

He said the bank, in collaboration with the World Bank and a company called Nsano, had developed an MTN-base product christened NVRB M-Savings, to help mobilise funds to boost its deposit base adding, with the product, one could sit home to undertake banking transactions.

He explained that a customer could easily transfer money from an M-Saving account and cash it from an MTN mobile money agent even on non-banking days, such as weekends and holidays and that the only requirement was to register with MTN.

Social responsibility

Dr Ata said the bank continued to assist hardworking farmers in Jasikan, Kadjebi, Nkwanta, Krachi East and Biakoye districts and had also made donations to the Ghana Education Service in the Biakoye District in respect of the celebration of the international day of the girl child and to the Dodi Papase Senior High Technical  School for the celebration of its speech and prize giving day.

He expressed optimism that with the creation of the new Oti Region more stimulus would be given to economic activities in the area leading to more business in the banking sector.


In an address, the Finance and Administrative Officer of the ARB Apex Bank Limited, Ms Francisca Dedei Attipoe, commended the bank for increasing its stated capital by 23.3 per cent although there was a dip in the profit recorded over the previous year.

She urged the bank to pursue its debtors to repay their overdue debts in order to improve the fortunes of the bank and also to enable other customers to benefit from the loan facilities offered by the bank.

Ms Attipoe urged the bank to recommit its agenda to the upliftment of the socio economic development of rural people.

In his address, the Managing Director of the bank, Mr S.S Mohenu, cautioned that if the required capital was not met, the bank risked a merger with another bank and could lose the capital of the bank at Guaman.

He, therefore, asked shareholders to buy more shares to increase the capital base.