Despite the operational challenges, the Akyempim Rural Bank in the Gomoa West District of the Central Region faces, its performance under new management, continues to improve, the bank’s staff disclosed, attributing the success to the financial institution’s current Chief Executive Officer, Mr. David Asamoah, for his excellent leadership and teamwork.
The poor operational management caused by the former managers has made the Bank unable to meet the paid-up capital of 1 million Cedis required by the Central Bank (BoG) to operate as a Rural Bank. Currently, the Bank needs about GHS300,000.00 Cedis to top up a GHS695,240.00 Cedis to meet the GHS 1 million requirement by the Bank of Ghana (BoG).
Addressing the 35th Annual General Meeting of the Bank at Gomoa Dawurampong, the CEO, Mr. David Asamoah appealed to the shareholders to increase their shares to enable the Bank to meet the BoG requirement.
This situation contributed to the bank’s failure to declare dividends to its customers during the AGM.
So far, the new management is said to have disbursed about GHS 642,311.00 to depositors whose investments were misappropriated by the old management, from 2015 and beyond.
However, speaking to the media after the meeting, the new CEO, Mr. David Asamoah disclosed that the bank was making progress to ensure prudent management, regain customers’ trust, and broaden clientele.
