[ 2016-10-25 ]

Mumuadu Rural Bank makes record GHc1.5m profit
The Mumuadu Rural Bank has announced a net profit
in excess of GH¢1.5 million on its operations,
last year – the figure is the highest to be
achieved in three decades.

Mr. Seth Adom Asomaning, the Board Chairman, said
this represented a 25 per cent increase over that
of 2014.

The bank’s total assets also rose from GH¢27.5
million to GH¢36 million during the period.

He was addressing the 20th annual general meeting
of the shareholders in Osino.

Mr. Asomaning spoke of the strengthening of the
bank’s micro-credit operation and said it had
already disbursed GH¢1.4 million to individuals.

He underlined the resolve of the board to make
sure that there were strong internal control
measures to protect money deposited by the
people.

He told the owners of the bank that three
employees had been dismissed for fraud and the
money stolen recovered.

He called for a reduction of the 25 per cent
income tax paid by the rural and community banks
and said it was way too high.

Mr. Kwaku Achampong of the ARB Apex Bank, reminded
the bank to continue to put the customer at the
centre of its operations to sustain their
loyalty.

He said the Apex Bank was doing everything to
develop automated teller machines (ATM) for use by
all rural and community banks.

Source - GNA

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