Builsa Community Bank profitability improves

The Builsa Community Bank has improved  its profitablity  by recording GH¢702,727  at the end of the year 2017 frm the GH¢526,234 recorded the previous year.

The bank’s total assets also hit GH¢25.98 million, during the period under review.

Deposits also grew from Gh¢15.12 million to GH¢18.76 million with loans and advances to customers increasing by 18.33 per cent. It shot up to GH¢12.55 million from GH¢10.61 million, during the period.

The Board Chairman of the bank, Naab Akanab Apoom–Ween who disclosed this at the bank’s annual general meeting here said the bank ended the year under review with a stated capital of GH¢1.08 million which exceeded the mandatoty capital requirement of the GH¢1 million Ghana cedis announced by the Bank of Ghana.

He said the bank would continue to introduce products and services to suit the needs of customers.

 

 

 

 

The Builsa Community Bank  in the Upper East Region has been commended for complementing  government’s efforts over the years in investments  in the areas  of education, agriculture, health, environment, culture and sports.

The District Chief Executive for the Builsa North, Mr. Afoko David Amoabil  made the commendation on behalf of the Upper East Regional Minister.

The Regional Manager of the of the Association of Rural Bank(ARB)  Apex Bank Limited, Mr. Zinzendorf  Pascal Nkulenu, who read a speech on behalf of the Managing Director of ARB  Apex Bank Limited, Mr Kojo Mattah, stated that all the relevant indicators of  banking  indicated  that the  Builsa Community Bank was being managed well.

“All the relevant indicators of the bank indicate that the bank  is indeed being well managed . For instance your bank ended the year under review in the ‘strong’ category   as indicated by the last quarter report of the Efficiency Monitoring Unit of the ARB Apex Bank.  It is our hope that you will continue to chalk the greater successes in the year ahead,” he said.

Mr. Mattah, however, reminded the  management  and the Board of Directors of the bank to be mindful of the current trends in  the banking industry which had led to the taking over by some banks  by the Bank of Ghana and the closure of others.

He called on  all rural banks to adhere to the directive of the ARB  Apex Bank Limited  to appoint compliance and risk officers  to help address the challenges of loan recovery, poor corporate goverance, non adherence to regulatory requirements  and risk management system.

The Managing Director of ARB  Apex Bank Limited   expressed worry about the failure of many rural banks to adhere to the principle of reconciliation  and  appealed to the management of all rural banks to take reconciliation of their accounts very seriously to help in fraud detection and to  curtail unecessary losses.

The President of the Association of Rural Banks  of the Upper East chapter, Alhaji Abdul Sherif Adams, entreated   the management and the staff of the bank not to be complacent about the sucesses chalked  but to aspire higher to make more gains.

He also appealed to the  shareholders and customers of the bank to purchase more shares to enable the bank grow.

Mr. Adams urged customers  to ensure that they  pay their loans on time  to enable others also benefit.

Rockson Bukari Ayine, Upper East Regional Minister expressed happiness about the sterling performamces of the bank over the years.

He called on the bank to device control systems on regular basis to detect early enough the activties of miscreants who defraud customers.

FROM SAMUEL AKAPULE, SANDEMA

 

 

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