The Upper Manya Kro Rural Bank (UMKRB) is considering reviving the oil-palm industry in the Upper Manya District to improve the local economy and create jobs.Towards this end, the bank is to partner Asare Odometa Plantations Limited (AOPL) as Technical Operator to secure funding under the Outgrower and Value-Chain Fund.Mr. James Kwame Otieku, Chairman of the Board of Directors of the bank, announced this at its 28th annual general meeting at Asesewa in the Eastern Region.The Fund, a collaboration between the Ministry of Food and Agriculture (MOFA) and KfW -- a German Development Cooperation Agency, is a major economic intervention that the bank seeks to pursue to promote wealth-creation in its operational areas with the active participation of AOPL.He said the bank grew its total deposits by 52% from GH¢7.25million in 2010 to GH¢11.02million in 2011. During the year under review, the bank granted total loans and overdraft facilities of GH¢21.04million, representing an increase of 63.7% over the 2010 figure of GH¢12.85million.Mr. Otieku said this effort of mobilising deposits was made possible through the continued support of customers and the hardworking staff. He said total net income grew by 33.4% from GH¢2.53million in 2010 to GH¢3.37million in 2011.“From 2010 to 2011, net income and operating expenses grew by 33.4% and 46.1% respectively. This was expected given the massive expansion of the bank over the past four years,” Mr. Otieku said.He said the bank maintained its profit-making record by posting an after-tax profit of GH¢675,905 in 2011 against GH¢664,384 in 2010, representing 1.73% growth.Total assets recorded a 48% rise, moving from GH¢10.6million in 2010 to GH¢15.7million in 2011. The income surplus balance fell by 14.3% from GH¢1.4million in 2010 to GH¢1.2million in 2011.“This is attributed to the capitalisation of GH¢551,955 as bonus issues,” he explained. Mr. Hyginus S. Zon, Head, Internal Control Department, ARB Apex Bank Limited, commended the Board, the Supervising Manager and his team for their visionary and transformational leadership.He said the bank was rated “satisfactory” based on the 2011 fourth-quarter report of the Efficiency Monitoring Unit of the Apex Bank. Meanwhile, the bank in 2011 undertook major developments within its catchment areas, which included the inauguration of Klo-Agogo Agency and a library complex for Asesewa Senior High School.A total of GH¢53,000 was also earmarked for corporate social responsibilities during the year under review.