The Managing Director (MD) of the ARB Apex Bank Limited, Kojo Mattah said the Rural and Community Banks (RCBs) sub-sector cannot afford to fail the nation’s rural economy.
That, he said, was because the 144 RCBs with more than 850 branch locations and agencies were the livewire of the rural economy.
Mr Mattah said this in an address read on his behalf by Mr Reuben Adamtey, the Sunyani branch Manager of the ARB Apex Bank, at the 31st Annual General Meeting of the Asutifi Rural Bank at Acherensua in the Asutifi South District of the Ahafo Region.
“We cannot afford to do less, because the uniqueness of our branches gives us comparative advantage over the other banks. Let us keep pushing ourselves so that there will come a time when anytime the name of RCBs is mentioned all the other financial sector players will begin to catch cold,” he said.
Mr Mattah recounted the recent banking sector crisis and made it clear that RCBs could not continue to operate in silos.
“We must come together to build a very strong and positive image for the RCBs because that is the only way we can continue to grow together as a family with endearing values and shared destinies.”
Mr Mattah gave the assurance that the Bank would always stand ready to lead collective efforts “to enhance our image and grow our sector for the teeming shareholders.”
Touching on regulatory issues, he reminded the RCBs that the deadline for the Bank of Ghana’s recent notice on “Compliance with the Minimum Pay-up Capital for RCBs and Microfinance Institutions” is February 28, this year.
He, therefore, urged shareholders of the Asutifi Rural Bank to buy more shares to enable the Bank to meet the required minimum pay-up capital of one million Ghana cedis.
He advised loan defaulters to make good on their debt to the Bank so as to expand the pool to reach other borrowers without passing on the cost of default to them, thus leading to high lending rates.
“Let us repay our loans and also in time to help the banks to grow their loan portfolios.”
The President of the Brong Ahafo Chapter of the ARBs, Mr Kofi Agyemang, commended the Board of Directors of the Asutifi Rural Bank for their hard work, sacrifices and dedication to duty and urged them to keep up the good deeds.
He advised staff to accord its customers the necessary respect during their business transactions.
Nana Antwi Kesse Basahyia, Nifahene of the Achierensua Traditional Council, who stood in for the Omanhene, Agyewodin Professor Adu-Gyamfi Ampem, urged the shareholders to rally behind the Bank to ensure its accelerated growth.
The Deputy Coordinating Director of the Asutifi District Assembly, Nicholas Efferh, said government would continue to protect the interest of financial and other institutions to help develop the national economy.
The Member of Parliament for the area, Alhaji Collins Dauda, urged shareholders and customers to put their shoulders to the wheel to help the Bank live up to expectation.
- Former NSMQ contestant, Francis Tetteh reported dead
- 13 reasons behind Akuapem Poloo’s sentencing
- NDC suspects doctoring of Techiman South election summary sheets
- Mahama must call sycophantic campaigners to order – Kunbuor
- Kuami Eugene reacts after KiDi said his communication is poor
- NRSA petitions MTTD to investigate Cocobod vehicle that broke traffic regulations
- We’re running into a credibility problem – Kunbour on unanswered calls for NDC’s election 2020 collated figures
- Stolen ring causes teenager’s finger to rot at Pantang
- Kuami Eugene describes critics of his attire during Range Rover presentation as shallow
- ECG to announce ‘dumsor’ timetable for works on Pokuase BSP
Ghana’s CEOs Summit to push for Digital Economy Act
ECG releases ‘dumsor’ timetable; outages to begin May 10
Choosing Alan or Bawumia as 2024 flagbearer may not augur well for NPP – Ben Ephson
Worawora Government Hospital appeal to residents to donate blood
Cadre’s influence in NDC dwindling – Ben Ephson
Sibi residents in Oti Region call on government for access to potable water
People of Shiari calls on government for development facelift
BoG implements policies to accelerate digital financial inclusion
Chelsea preparing to withdraw from European Super League
Teacher allegedly butchers man in Bono Region
Amasaman MP makes donation to Muslims to mark Ramadan celebration
Court rejects bail application of business executive held over spousal murder
Joy Sports team divided over European Super League
Majority of Ghanaians at risk of contracting Covid-19 if not vaccinated in next 2 to 3 months – Health experts
Regulatory environment revamped for innovative digital banking industry – 1st Deputy Governor