The Anum Rural Bank Limited has recorded a capital adequacy of 20.16 per cent as against the Bank of Ghana’s regulatory minimum of 10 per cent as at December 2019.
Capital adequacy is the statutory minimum reserves of capital which a bank or other financial institution must have available.
The bank’s stated capital was also GH₵1, 956,043.64 against the regulatory minimum of GH₵ 1,000,000.00 at December last year.
This was disclosed by the Board Chairman, Mr Daniel Adu Appea last Thursday at the inauguration of a new branch at Asutuare in the Shai Osudoku District of the Greater Accra Region.
He said the bank’s total assets as at last year was GH₵37,069,376.48 and also had a net worth of GH₵6,914,577.90.
Mr Appea said the Anum Rural Bank which entered the financial sector in April 1981, now has eight agencies at Anum, Akosombo, Atimpoku, all in the Eastern Region; Peki, Juapong and Dzemeni, all in the Volta Region as well as Asutuare and Afienya, both in the Greater Accra Region.
He said the bank also have three mobilisation centres at Peki Dzake, in the Volta Region, and Boso and Asikumah, in the Eastern and Volta regions respectively.
Mr Appea said the bank had positioned itself to provide a range of services and products, including savings account, current account, susu savings account, fixed deposit, treasury bill, micro finance facilities, credit facilities, ACH, e-zwich, and U-connect, based on their customer needs.
He indicated that, the establishment of the Asutuare agency would help the bank in identifying new customers as well as selling effective products to boost customer confidence.
Mr Appea said the bank had also developed customer service policies and procedures that encourage strong ties with its customers, whilst also protecting the interest of the bank.
He said the bank’s strength was derived from their unique customer service, well driven products, reliable and efficient processes as well as customer appreciation, “which have been the hallmark of our successes all these years”.
For his part, a representative of the ARP Apex Bank, Nana Seth Frimpong affirmed the Anum Rural Bank Limited has met the necessary requirement of the Bank of Ghana, adding that, “it is one of the best banks in the region”.
He said that all the rural banks were in good standing, according to the Bank of Ghana regulations, and would continue to collaborate to ensure that all monies saved at the rural banks were safe.
The acting Chief of Asutuare, Nene Tettey Ekpa IV, in his solidarity message, advised “the residents to repay any loan which the bank may grant them to enable the smooth operation of the bank”.
Present at the commissioning were the Nene Teye Titriku, Akusematse and Suapolor of Osudoku traditional area, Nene Tettey Ekpa IV, acting Chief of Asutuare, Nene Narh Ankrah II, Sub-chief of Gbese Terkworsi and Nana Dugbakie Nyanya II, Queen mother of Tsangme.
The rest were Mr Samuel Yao Katsekpor, vice board chairman, Mr Nathaniel Afunya, board secretary, and Mr Martin Adu-Owusu, Mr Christian K. Ani-Frimpong, Mr Edwin Kwabena Adjei, and Mr Eric Baadu Agyeman, all board members.
From: David Kodjo, Asutuare.