The Chief Executive Officer of Amansie Rural Bank PLC, Frederick Kwakye Kyei, says most employees migrating from Ghana often leave without repaying their loans.

According to him, the trend is negatively affecting the rural banking sector.

This follows revelation by the Ghana Registered Nurses and Midwives Association (GRNMA) that about 4,000 members were cleared to work outside the country.

Similarly, over 10,000 teachers have relocated to Europe, according to the Registrar of the National Teaching Council (NTC).

CEO of Amansie Rural Bank PLC, Frederick Kwakye Kyei, says the development has adverse impact on clients’ loan portfolio.

He was speaking at the 38^th annual general meeting of the bank at Antoakrom.

“The Bank continued to grant more credit facilities to customers and a significant portion of the credit facilities went to the salaried customers of the Bank in 2022.  There are default from salary earners because of the migration. Those who are our customers are likely to default. So we are reassessing our strategies to move to commercial and microfinancing to increase commerce. However, we are collaborating with the Bank of Ghana to regulate the migration,” he said. 

The general meeting assembled stakeholders and shareholders to deliberate on fiscal plans for the future.

The Amansie Rural Bank chalked some successes in the financial year, including recording an increase in pre-tax profit of over 67.81%.

Some shareholders encouraged management to remain committed to improving customer service delivery.

”When we organise general meetings like this, we get to share our opinions and management over the years have been taking them into consideration. The latest include the appointment of some two members to the board of directors. We continue to ask them to listen to us when we share our contributions,” Amidu Abass stressed.

Meanwhile, the Amansie Rural Bank is celebrating its 40^th anniversary in the rural banking sector.

The bank aims to increase its shareholders and its social corporate responsibilities to improve lives in the operational areas.

“40 years have been a great success. We have changed our name bringing on board all the Amansie communities and increasing our shareholders. We have had lots of corporate social responsibility including improving security within our catchment areas. As part of it, we have sponsored education of some members within our operational communities and we wish to do more as we move into the future,” he said. 

The theme for the anniversary is “40 years of impacting communities through banking”.