Shama (WR), June 04, GNA – The Lower Pra Rural Bank increased deposits from GHC129.6 million in 2020 to GHC151.1million in 2021, a percentage margin of 16.59 per cent.

Meanwhile, loan advances outstanding under lending programme in 2020 totalled GHC59.4 million as against GHC73.37 in 2021, representing an increase of 23.52 percent, the Board Chairman, Mr Issac Kwamina Van-Ess, announced.

Mr Van-Ess, at the 34th Annual General Meeting (AGM) of the Bank at Shama in the Western Region at the weekend explained that the post COVID-19 pandemic accounted for the giant leap in advances from the previous year.

He encouraged defaulting clients to turn a new leaf adding, the bank would not relent in recovering all advances with some defaulters already sent to court.

On profitability, he revealed that, total income recorded in 2021 was GHC44,304,085.20 as against total expenditure of GHC42,632,762.52, resulting in a profit before tax of GHCGHc1,671,322.68.

Mr. Van-Ess indicated that Lower Pra continued to pursue prudent investments to maximise on shareholders’ investment.

The near cash securities as of December 31, 2021, was GHC61million as against GHC50.1 million in 2020, an increase of 21.76 per cent.

The bank, he said, had declared a dividend of GHC20.00 per share for 2021, the highest so far in the country.

The Board Chairman said, the bank had projected to own Kakum Rural Bank Ltd in the coming years to enhance its growth and capital base in the Central Region.

“Our hope is to surmount operational challenges faced during the past years. The bank will undertake limited recruitment to augment its staff to ensure effective monitoring and repayment of loans.” Mr Van-Ess said.

Mr Alex Kwasi Awuah, the Managing Director of the ARB APEX Bank said the sound financial indicators posted by the Bank had showed the strength of the Bank in the Rural and Community Banking, “the Bank has well positioned to remain a pacesetter in the country”

However, Mr. Awuah cautioned against risks that may jeopardize stakeholders’ funds …”let us be guided by the past lessons and avoid the temptation of falling victims to suspicious investment schemes”.

He also urged the Rural Banks to endeavour to comply with all directives and regulations.

Mr. Awuah assured the sector players of the Institution’s readiness to assist members to fly higher in the financial sector.

GNA

Shama (WR), June 04, GNA – The Lower Pra Rural Bank increased deposits from GHC129.6 million in 2020 to GHC151.1million in 2021, a percentage margin of 16.59 per cent.

Meanwhile, loan advances outstanding under lending programme in 2020 totalled GHC59.4 million as against GHC73.37 in 2021, representing an increase of 23.52 percent, the Board Chairman, Mr Issac Kwamina Van-Ess, announced.

Mr Van-Ess, at the 34th Annual General Meeting (AGM) of the Bank at Shama in the Western Region at the weekend explained that the post COVID-19 pandemic accounted for the giant leap in advances from the previous year.

He encouraged defaulting clients to turn a new leaf adding, the bank would not relent in recovering all advances with some defaulters already sent to court.

On profitability, he revealed that, total income recorded in 2021 was GHC44,304,085.20 as against total expenditure of GHC42,632,762.52, resulting in a profit before tax of GHCGHc1,671,322.68.

Mr. Van-Ess indicated that Lower Pra continued to pursue prudent investments to maximise on shareholders’ investment.

The near cash securities as of December 31, 2021, was GHC61million as against GHC50.1 million in 2020, an increase of 21.76 per cent.

The bank, he said, had declared a dividend of GHC20.00 per share for 2021, the highest so far in the country.

The Board Chairman said, the bank had projected to own Kakum Rural Bank Ltd in the coming years to enhance its growth and capital base in the Central Region.

“Our hope is to surmount operational challenges faced during the past years. The bank will undertake limited recruitment to augment its staff to ensure effective monitoring and repayment of loans.” Mr Van-Ess said.

Mr Alex Kwasi Awuah, the Managing Director of the ARB APEX Bank said the sound financial indicators posted by the Bank had showed the strength of the Bank in the Rural and Community Banking, “the Bank has well positioned to remain a pacesetter in the country”

However, Mr. Awuah cautioned against risks that may jeopardize stakeholders’ funds …”let us be guided by the past lessons and avoid the temptation of falling victims to suspicious investment schemes”.

He also urged the Rural Banks to endeavour to comply with all directives and regulations.

Mr. Awuah assured the sector players of the Institution’s readiness to assist members to fly higher in the financial sector.

GNA

Shama (WR), June 04, GNA – The Lower Pra Rural Bank increased deposits from GHC129.6 million in 2020 to GHC151.1million in 2021, a percentage margin of 16.59 per cent.

Meanwhile, loan advances outstanding under lending programme in 2020 totalled GHC59.4 million as against GHC73.37 in 2021, representing an increase of 23.52 percent, the Board Chairman, Mr Issac Kwamina Van-Ess, announced.

Mr Van-Ess, at the 34th Annual General Meeting (AGM) of the Bank at Shama in the Western Region at the weekend explained that the post COVID-19 pandemic accounted for the giant leap in advances from the previous year.

He encouraged defaulting clients to turn a new leaf adding, the bank would not relent in recovering all advances with some defaulters already sent to court.

On profitability, he revealed that, total income recorded in 2021 was GHC44,304,085.20 as against total expenditure of GHC42,632,762.52, resulting in a profit before tax of GHCGHc1,671,322.68.

Mr. Van-Ess indicated that Lower Pra continued to pursue prudent investments to maximise on shareholders’ investment.

The near cash securities as of December 31, 2021, was GHC61million as against GHC50.1 million in 2020, an increase of 21.76 per cent.

The bank, he said, had declared a dividend of GHC20.00 per share for 2021, the highest so far in the country.

The Board Chairman said, the bank had projected to own Kakum Rural Bank Ltd in the coming years to enhance its growth and capital base in the Central Region.

“Our hope is to surmount operational challenges faced during the past years. The bank will undertake limited recruitment to augment its staff to ensure effective monitoring and repayment of loans.” Mr Van-Ess said.

Mr Alex Kwasi Awuah, the Managing Director of the ARB APEX Bank said the sound financial indicators posted by the Bank had showed the strength of the Bank in the Rural and Community Banking, “the Bank has well positioned to remain a pacesetter in the country”

However, Mr. Awuah cautioned against risks that may jeopardize stakeholders’ funds …”let us be guided by the past lessons and avoid the temptation of falling victims to suspicious investment schemes”.

He also urged the Rural Banks to endeavour to comply with all directives and regulations.

Mr. Awuah assured the sector players of the Institution’s readiness to assist members to fly higher in the financial sector.

GNA