Agona-Nkwanta (WR), March 27, GNA- The Ahantaman Rural Bank Limited is to pay a total of GHc2, 714,278 in dividends to shareholders of the bank despite the COVID-19 stress and the aftereffects of the financial sector clean-up.
Mr Eric Danning, the Chairman of the Board of Directors said the proposed dividends of GHC 0.08 per share was a 23.53 per cent return on a share price of GHC 0.34.
The Bank in the 2021 fiscal year chalked some quick progress and growth with robust appreciation in total assets, deposits, and investment.
He said the increase in total assets was because of investment in some government securities and deposits also recording moderate year on year good liquidity flow.
Mr Danning at the Annual General Meeting of the Bank at Agona Nkwanta told Shareholders that the 2021 performance of the bank indicated significant growth in paid-up capital and total assets as well.
The Bank made a profit before tax of 6, 364,328 cedis with total assets of 166,019,417 and paid-up capital of 5,745,516 cedis.
The shareholders’ fund in the year under review stood at 18, 157, 753 cedis and an investment portfolio of 85, 291,613 cedis.
The Board Chairman said the Bank continued to deploy innovative approaches in ICT (Information and Communication Technology), strategies, good policies, and prudent management to soaring growth in the years ahead.
Mr Benjamin Afful-Eshun, the Chief Executive Officer of the Ahantaman Rural Bank appreciated the dedication of staff in achieving the feat in the year under review.
Mr Alex Kwesi Awuah, Managing Director of the Apex Bank lauded the Bank’s performance and urged them to strengthen internal auditing mechanisms through training and retraining.
Ms Comfort Owusu, Official of Association of Rural Banks urged them to be more innovative and strategic in the years ahead to achieve more.
The association she announced would initiate cyber security training programmes for members to become more aware of threats in the internet space and how to handle them.
GNA