AUDIO: Despite Uncertainties in the Global Market Kwahu Rural Bank Ltd Was Able To Make Appreciable Profit in Year 2016 – Board Chairman


Kwahu Rural bank held its 35th annual general meeting of shareholders at Pepease Presbyterian church Saturday 27th May 2017.

Present at the Annual General Meeting were Mr. Ernest Andrews Appeadu, Chairman of Board of Directors, other board members and Mr Andrews Wiredu Darko General Manager of the Bank. Also in attendance were Representatives from Association of Rural Banks and ARB Apex Bank Ltd.
Speaking at the meeting Mr Appeadu said although there was stiffness and uncertainty in the global market which affected the local market, Kwahu Rural Bank Ltd did well in the year under review, 2016.
According to him, the bank had its fair share of growth in the banking industry and for the year under review posted a net profit after tax of Gh822,805.00 as at 31st December 2016 compared to December 2015’s Gh953,548 representing a marginal decline Gh130,743.00 (13.71%). This he said translates into earning per share of Gh0.01 whiles 2015 stood at Gh0.0121.

According to him Kwahu Rural Bank was established in 1990 and it has been ranked amongst four profitable Rural Banks in the Eastern Region.

He said despite many challenges management and workers have been able to provide proper and effective services to customers and shareholders of the Bank.

He indicated that the Bank has approximately seven branches at Nkawkaw, Mpraeso, Bepong, Kwahu Tafo, New Abirem and Koforidua with headquarters located at Pepease. The bank also has an agency at the Nkawkaw market.

“It is our prayer that our customers continue to build faith and continue to work with Kwahu Rural Bank and also we have other plans of extending our services to other places of convenience, he pointed out.

Source: Agoo News/Ghana