Business General News

Otumfuo Directs Asokore Mampong Rural Bank



Otumfuo Osei Tutu II , the Asantehene has directed Asokore Manpong Rural Bank to honour Bank of Ghana monetary and supervision policies to help the bank to meet it’s target of serving their customers.

According to him, ” to carter for any difference between the bank of Ghana’s Credit Loss Provision requirements, Loans and Advances impairments as an infant bank, it is still expecting of the bank obtaining to the floor the disposal of issuing credit loans to customers to help build confidence in the rural bank”.

In a speech read on his behalf, Otumfuo’s Akronfirihene, Oheneba Akwasi Abeyie during the Bank’s First Annual General Meeting in Asokore Manpong municipality in Ashanti region, he added that, the largest shareholders of the bank are better of enough of their purchase of shares, explaining that “flouting of shares is key”this he therefore appealed to the general public to patronized shares of the bank.

He said, the performance of the bank is so impressive that, the Central Bank financial year per their provisions made under section 157 of the Company’s Act,2019 (Act 992), the Asokore Manpong Bank on behalf of their customers are on-course.

On his part, Nana Boakye Ansah Debrah , Board Chairman of the bank said the bank was able to meet the rigorous scrutiny of the Regulator and mobilized enough capital from the distinguished shareholders of about more than 100percent of the required minimum of GH1,000,000 together issuing to them license on the 18th June 2018.

Commenting on the bank’s assets and investment, Nana Debrah noted  that, total deposit grew up from July_Dec 2018 1,229,592 to 16,753,603 2021 as well as profit before tax July_ Dec 2018 527,137 grew to GH 52,291 year ended 2021.

He said the Bank’s corporate social responsibility activitives between 2020 and 2021, Asokore Manpong municipality kindergarten Schools, the Farmers Day celebration, COVID 19 support including end of year community football gala through packages in the corporate responsibility had received a maximum support in that regard in the municipality.

Source:David Amoateng (Editor, Weekly Observer)

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