Yaa Asantewaa Rural Bank makes financial headway

Yaa Asantewaa Rural Bank Limited has witnessed a remarkable success in its financial operations for the year 2017.

The financial institution according to authorities was able to earn a profit of GH 130,960 which was an increase over that of the year 2016 (GH 101,974).

The Bank during the same year (2017) was able to generate a profit attributable to shareholders of GH 139,000 and a diluted earnings per share of GH 0.029, compared to an attributable profit of GH 101,000 and a per share of GH 0.023 in 2016.

As a top up to the foregoing indelible performance, the Bank was able to generate a return on total equity (ROE) of 11.05 with its total assets recording GH 13million from GH 7.7 million, a growth of 68.83% and a deposit growth of 100% to over GH 10million from GH 5million for the same period.

Underscoring the foregoing during the holding of the Bank’s 5th Annual General Meeting of Shareholders in Kumasi, the Board Chairman Mr Samuel Addo Otoo touched on some cooperate social responsibilities done by the institution which include; the financing of the construction of New Agogo community market located at Atonsu at the cost of over GH 20 million, provision of a set of dining tables worth GH 10,000 to Ejisuman Senior High School plus the donation of exercise books and cash donation to the International Foundation for Students and Youth Development, Ejisu at the cost of GH 1,000.00.

The Board Chairman Mr Samuel Addo Otoo premised on the abovementioned achievements was optimistic that the Bank will witness a robust rate of growth in the years ahead of them considering the increase in investor confidence.

He assured that authorities of the institution will continue to deepen their relationship with customers and offer them a superior customer experience through the right technology and innovative products and services while maintaining their focus on minimizing and diversifying risk as well as improving productivity and efficiency.

By Enock Akonnor