The Drobo Community Bank Limited (DCBL), has declared a net profit of GH¢66,640 for the 2014 financial year.
The amount was 12.07 per cent below the GH¢75,791.00 it recorded in 2013.
During the year under review, the bank approved and disbursed an amount of GH¢1,913,697. 00 as loans and advances, indicating 8.23 per cent increase.
Mr. Wilson Benneh, Board Chairman, DCBL attributed the bank’s decrease in profit to the difficult economic environment both locally and globally.
He cited the depreciation of the cedi, and the energy crisis as some of the factors that,
“the proliferation of so-called investment companies which offered extremely high, unsustainable interest rates to their customers in the bank’s operational area posed a great challenge to our operations” .
Despite the difficulties Mr. Benneh maintained that the bank’s expansion programme was on course, as plans were far advanced to open another agency in the central business district of Sunyani, in addition to the Fiapre Agency.
Mr. Kwadwo Aye Kusi, Managing Director of ARB Apex Bank Limited, urged the board and management of the bank to offer innovative products, and improve customer service delivery, to remain competitive.
He urged them to take advantage of the changing trends in the economy by varying their business processes to improve their business model to take advantage of new sources of income.