Nsoatreman Rural Bank Limited in the Brong Ahafo Region has announced its commitment to sponsor another batch of six (6) needy but brilliant students to complete Senior High School (SHS) in the next academic year.
The bank called on parents and stakeholders to apply for the scholarship scheme when official declarations are being made to enroll new batch of students.
Chairman of Board of Directors at the bank, Mr. Kofi Agyeman disclosed at the 26th Annual General Shareholders Meeting of the bank on Saturday, October 10, 2015, that a total of GHC12, 187.00 was spent on the first batch of students for their three (3) years term in school.
Speaking on the performance of the bank for the year under review, Mr. Kofi Agyeman said:
“The year 2014 was very tough for businesses and households as the cedi continued to depreciate fast against the major currencies resulting in price hikes for almost every commodity. Electricity supply was unstable and there were upward adjustments of utility charges.
He further explained that, “A general rise in the cost of running a business and cost of living prevailed the year—and these adversely impacted on all sectors of the economy. For rural banks of which Nsoatreman Rural Bank is no exception, operating cost and non-performing loans galloped astronomically reducing profits immensely. This notwithstanding, our bank was adjudged satisfactory during the year under review.”
Manager of Nsoatreman Rural Bank, Mrs. Agnes Grimmon-Intsiful in an interview with the News Hunter Daily Magazine called on the public to save their monies with nearby rural banks so that they can apply for loans when they need arises.
She said the bank now undertakes the MTN money transfer in addition to the Apex Link money transfer, Money Gram, Western Union and others.
Mrs. Grimmon-Instsiful hinted that, the bank also offers e-zwich services to customers and in the near future, the bank will install ATMs in all of its agencies.
In a speech delivered on his behalf, Mr. Kwadwo Aye Kusi, Managing Director of ARB Apex Bank Limited, observed that thebank was able to maintain its position as a satisfactory bank based on the 2015 2nd quarter report of the Efficiency Monitoring Unit of the Apex Bank.
According to him the performance of the bank was good and that some basic weaknesses were identified, which must be closely monitored by the board and management staff of the bank in order not to worsen them.
“The performance of the Nsoatreman Rural Bank in the rural banking industry amidst the stiff competition in the financial services industry in general, required consistent management of their resources to achieve sustainable growth,” he said.