The Kwahu Praso Rural Bank Ltd, one of the fastest growing local banks in the Eastern Region granted a total loans of Gh?1,159,600 in 2011 fifinancial year to its customers.
The Chairman of Board of Directors of the Bank, Mr. Eric Kwakye stated this at the bank?s 17th Annual General Meeting of shareholders at Kwahu Praso.
He said total deposit of the bank increased from GH?1, 747,137 in 2010 to GH?2, 487, 384 in 2011 which shows an improvement growth of 42.40 percent.
Mr Kwakye attributed the success of the bank to the pragramatic strategies adopted by the management. He said the bank as its social responsibilities supported a number of institutions in their catchment area and mentioned some as the construction of Obo Chief Palace, donation to Farmers Day Celebration to 3 district assemblies in the area.
The Board chairman therefore urged the shareholders to increase their shares capital base of the bank.
The Head of Credit Unit of the ARB Apex Bank, Mr. Richard Arkaifie who was the Special Guest of Honour commended the board, management and staff for their impressive performance and urged them to work harder.
He said the rural and community bank’s still have a lot more to do by way of organizational and operational transformation especially in the area of Information Communication and Technology.
He further noted that the rural and community banks must endeavour to build a good corporate image for themselves to ensure the loyalty of customers and patronage of their product.
The chief of Obo Kwahu?Nana Yeboah Afari Obuagyan II who graced the occasion urged the people in the area to patronise the bank to enable them have credit access to expand their businesses.