Shareholders of Builsa Community Bank (BUCOBANK), who could not receive dividends on their shares in 2013 because of their decision to increase the bank’s capital share have cause to smile.
An amount of GH¢91,298.18 has been approved for payment as dividends for 2014 by the directors for them.
This was revealed at the 15th Annual General Meeting of the bank, where Pascal Ayaric, Board Chairman said BUCOBANK also made a net profit before tax of GH¢795,053.
Mr. Ayaric said the bank spent GH¢ 21,943 in 2014 in fulfillment of its corporate social responsibility in the area of health, education and other activities as against GH¢20,943 in 2013.
Mr. Kwadwo Aye Kusi, Managing Director, ARB APEX Bank Limited, who addressed shareholders in a speech read on his behalf, congratulated the bank for the hard work and for exceeding the minimum paid up capital of GH¢300,000.
Mr. Kusi urged shareholders to increase their shares to enable the bank to have long term funds to expand commercial activities.
He advised borrowers to pay back their loans and advances on time.
He took the opportunity to inform shareholders of the ongoing ChequeCodeline Clearing introduced by ARB Apex Bank, which is part of efforts to make cheque clearing in rural banks easy for customers.
Mr. Daniel Syme, Deputy Upper East Regional Minister, urged management and board of the bank to improve upon their corporate governance, internal control systems and risk management in order to add value and efficiency to operations.
This, he said would eliminate fraud and safeguard depositor’s funds.
Mr. Syme expressed worry about the growing interest rates and asked the bank to take steps to attract customers rather than scare them.
He also warned the personnel to be wary of cyber-crimes and take measures to curb such incidence.