The Board of Directors of Brakwa Breman Rural Bank Limited have assured shareholders of the bank’s continuous commitment to work to increase their prospects.
Mr. Alexander Koomson, Chairman of the Board, gave the assurance in a report, he delivered at the 35th Annual General Meeting (AGM) at Odoben.
He stated that the Paid-up Capital of the Bank increased from GHC1,045,041.00 in 2018 to GHC1,086,271.00 in 2020, representing 3.95 percent upward, and profit made before tax was also from GHc183,199.00 in 2018 as against GHc42,076.00 in 2019 and further raised to GHc101,977.00 in 2020.
He applauded the shareholders for their continuous support and understanding as they made untiring investments into the capital base of the bank.
“Our bank still remains resilient and looks for impactful ways to serve our customers even as we control our operational cost to the barest minimum, he noted.
He also announced that the total assets of the bank stood at GH¢16,032,191.00 in 2018, but rose to GHc17,046.970.00 in 2019 and further to GHc22,518,121.00 in 2020, representing 40.46 percent over the preview’s years.
The total deposits of the bank increased from GHc12,241,843.00 in 2018 to GHc13,310,318.00 2019 and further increased to GHc19,553,650.00 in 2020, representing 59.73 percent, while net loans and overdraft facilities moved from GHc7,013,157.00 in 2018 to GHc7,847,011.00 in 2019 and rose to GHc9,161,167.00 in 2020.
Also, the bank’s Equity position rose from GHc1, 703,932.00 in 2018 to GHc1, 744,435.00 in 2019 and increased to GHc1, 793,243.00 in 2020 adding that, returns on Equity dipped from 10.75 percent in 2018 to 2.41 percent in 2019, but improved to 5.69 percent in 2020.
“The bank during the year under review (2020), donated a number of Personal Protection Equipment (PPE), including, Veronica buckets, hand sanitizers, liquid soap and tissues to Institutions in its catchment area.
“It also presented 50 bags of cement to Brakwa Senior High Technical School to continue their projects, supported the 2020 District Farmers Day celebration and aided some brilliant but needy students”, he added.
The donation and the support formed part of the bank’s corperate social responsibility in its operations area, and will continue to engage all and sundry to develop well thought-out policies and programmes, he said.