ARB
APEX Bank access funds for micro financing – Kwapong
Agona Nyankrom(C/R), Nov. 27, GNA - Mr Emmanuel
Kwapong, Managing Director of ARB Apex bank, last
Friday said the bank had access funds from
Government for micro financing and poverty
alleviation programmes.
He said the bank as a mini-central bank for rural
and community banks had the interest of rural banks
at heart and would offer the needed assistance to
enable them operate efficiently and effectively to
achieve their objectives.
Mr Kwapong announced this in a speech read on his
behalf at the 29th Annual General Meeting of Agona
Nyankrom Rural Bank at Agona Nyankrom.
He called on the Board of Directors and Managements
of Rural and Community Banks to take advantage of
these facilities for the benefit of their customers.
Mr Kwapong said training programmes would be
organized for staff of the bank to acquire more
skills to handle micro finance programmes.
On the bank’s operations, he said its investment in
Treasury Bills increased from 2.2 billion cedis in
2004 to 3.5 billion cedis in 2005, adding “The 59.5
per cent increase is a reflection of prudent
operations and urged the management to improve on
their performance.”
Mr Kwapong said the bank's growth of 50 per cent in
deposits from 6.1 billion cedis in 2003 to 9.3
billion cedis in 2005 was a good indication of
patronage from the community.
He urged management of the bank to intensify its
deposit mobilization drive.
Dr Sam Dufu, Chairman of the Board of Directors of
the bank, in his report, said the bank's total
assets increased from 8.3 billion cedis in 2003 to
10.9 billion cedis in 2005.
He said the bank granted loans totaling 11.4 billion
cedis to its customers during the period under
review.
Dr Dufu said the bank purchased Akuafo cheques
totaling 9.5 billion cedis during the 2004/2005 main
crop season.
GNA
