Kwaebibirim Rural Bank shows strong performance

By Adu Gyamfi, GNA 

Asuom (E/R), Nov 24, GNA – The Kwaebibirem Rural Bank showed strong performance, last year, posting profit before tax of GH?251,542.00 on its operations.

Mr. Carlos Ahenkorah, the Board Chairman, said this was a significant increase over the 2015 total of GH?163,694.00.

Its total deposit also rose from GH?11,285,704.00 to GH?13,621,355.00 during the period.

Addressing shareholders of the bank at their 31st annual general meeting at Asuom, he said the bank’s assets grew by 18.28 per cent.

Mr. Ahenkorah, who is the Member of Parliament (MP) for Tema, complained about the failure of some loan beneficiaries to pay back and hinted of a vigorous loan recovery strategy.

He vowed to continue chasing the loan defaulters and warned of legal action to recover all monies owed.

He said it had been alive to its corporate social responsibility and announced the donation of 100 bags of cement and a heap of sand in support of the construction of a police barracks at Asuom.

He told the bank owners that it had been providing some fuel to the police at Asuom, Kade and Akwatia, to aid their highway patrol.

This support had also been extended to the Kade Fire Station.

Mr. Ahenkorah added that the bank had made available to the Kade Senior High Technical School, 100 bags of cement for the construction of a fence wall and funded the re-shaping of the Abodom-Abaam and the Asuom-Bomso roads.

He said it would take advantage of the economic transformation agenda of the government to grow, introduce more products to support businesses and enhance profitability.

GNA

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