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 Ghc1, 956,043.64 against the regulatory minimum of Ghc 1,000,000.00 at December last year.
This was disclosed by the Board Chairman, Mr Daniel Adu Appea on Thursday at the inauguration of a new branch at Asutuare in the Shai Osudoku District of the Greater Accra Region.
He added the bank’s total assets as at the last year 2019 was GHC37, 069,376.48 and also had a net worth of GHc 6,914,577.90.
Mr Adu- 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 in the Volta Region as well as Asutuare and Afienya in the Greater Accra Region.
He added the bank also has three mobilization centres at Peki Dzake, Boso and Asikumah in the Volta and Eastern region respectively.
He added the bank has positioned itself to provide a range of services and products including savings account, current account, susu savings account, fixed deposit, treasury bill, microfinance facilities, credit facilities, ACH, E-Zwich, and U-connect based on their customer needs.
Mr Adu Appea indicated that the establishment of the Asutuare agency will help the bank in identifying new customers as well as selling effective products to boost customer confidence.
He said the bank has also developed customer service policies and procedures that encourage strong ties with its customers while 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 and have been the hallmark of their successes all the 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 indicated that all the rural banks are in good standing according to the Bank of Ghana regulations and will continue to collaborate to ensure that all monies saved at the rural banks are safe.
The acting Chief of Asutuare, Nene Tettey Ekpa IV in his solidarity 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, Mr Martin Adu- Owusu, board member, Mr Christian K. Ani-Frimpong, member, Mr Edwin Kwabena Adjei, Member and Mr Eric Baadu Agyeman, Member.
Source: Bismark Sacky
