Pulse.com.gh logo
Go


Bumper Profits: Offinso Rural Bank makes over 200% hike in profits for 2015

According to him, total deposits rose from GH¢4,015,315.00 to GH¢5,077,639.00 showing a growth of 26.46 per cent. At the same time, the capital adequacy ratio climbed from GH¢346,402.00 to GH¢351,802.00.

  • Published: , Refreshed:

The Offinso Rural Bank has declared a profit after tax of GH¢94,640.48, last year, representing 209.11 per cent increase over that of the previous year, the Board Chairman, Mr. Kofi Amponsah-Boateng has said. He was addressing the third annual general meeting of the shareholders at Offinso New Town.

According to him, total deposits rose from GH¢4,015,315.00 to GH¢5,077,639.00 showing a growth of 26.46 per cent. At the same time, the capital adequacy ratio climbed from GH¢346,402.00 to GH¢351,802.00.

Mr. Amponsah-Boateng told the bank’s shareholders that during the period its assets hit GH¢6,813, 978.00 compared with the year 2013 total of GH¢6,277,618 .85. On loans, he said advances granted in support of the expansion of economic activities amounted to GH¢2, 456,242 .00. A total of 2,010 customers benefited, he added.

In addition, he said the bank undertook several cooperate social responsibilities including free breast cancer and Hepatitis B screening, donation towards the farmers’ day, refurbishment of the Offinso North District Education Office and the celebration of the ‘Mmoaniko festival’.In an address read on his behalf, Managing Director of the ARB APEX Bank Mr. Kwadwo Aye

Kusi, urged the management to stick to best practices to sustain the bank on the path of growth. It should adhere strictly to the banking regulations, strengthen internal controls and risk management - to identify, assess, monitor and control the exposure of risks which might have negative or adverse impact on the bank’s operation.

Mr. Kusi encouraged the board, management and staff to continue to work with zeal and passion to build on the solid achievements made.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Number 12 Panic withdrawals hit savings & loans company following...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 Donor Support World Bank injects $60m into Ghana’s energy, tourism...bullet
5 Salaries In 2018 Here are the dates public workers will be paid...bullet
6 Tax Policy Government not planning to increase VAT, MP allays...bullet
7 Education Top 5 private high schools in Ghana according to WAECbullet
8 Menzgold Ghana Investment company closes down its Gold...bullet
9 Economy of Ghana Gov’t to increase taxes in mid-year budgetbullet
10 Nana Appiah Mensah Zylofon boss to create one million...bullet

Top Videos

1 Money Alert Meet Africa's richest womanbullet
2 Support Finance minister buys Kantanka carbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business