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Don't ignore Rural and Community banks – Association tells Ghanaian businesses

The Association of Rural and Community Banks in the Upper East Region had its 3rd Biennial General Meeting in the Garu District over the weekend to sensitize the public on the importance of banking in the rural sectors.

The meeting was also geared towards building a strong platform for bankers and clients to interact on issues relating to handling and depositing of money by clients.

Speaking at the program, the Chapter President of the Association, Alhaji Sheriff Adams, announced that financial performance amongst various rural and community banks in the region have seen a positive change, as the five banks can boast of a total asset base of GHc 134.09 million representing 3.28 percent of the total assets of the banks amounting to GHc 4,089.59 million.

“The total net worth of the five of rural and community banks (RCBs) stood at GHc 17.13 million representing 3.42 percent of the entire banks’ net worth of GHc 501.03”, he said.

He added that as at the end of the year 2018, the five banks had advanced loans and advances to the tune of GHc 51.79million to clients in various sectors of the economy which represents 3.57 percent share of the total advances of the rural and community banks which stood at GHc1451.05million.

He however explained that the RCBs in the Chapter have demonstrated very good performance in their operations and look reliable for business.

“This is because evidence can be seen at the 3rd Rural Banking Excellence Awards held in Bolgatanga where various awards were received by four RCBs out of five RCBs in the region”, he said.

See also  Joseph Yieleh Chireh - MP for Wa West

The meeting started with a float through the streets of the Garu District. The meeting was under the theme: The role of Rural and Community Banks in financial inclusion”.

The Garu District Chief Executive, Emmanuel Avoka, in a keynote address was happy with the selection of Garu for the 3rd Biennial Meeting and commended the Rural Banks for their role in the development of rural communities and empowering the people to establish and improve on existing businesses.

He however assured workers of the various banks that government will continue to support them to achieve their quest.

Source: A1radioonline.com | Moses Apiah | Ghana

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