Sekyere Rural Bank records yet another sterling performance in 2023 financial year
The Sekyere Rural Bank Plc in the Ashanti Region has recorded yet another sterling performance in 2023 financial year in spite of the difficult macroeconomic challenges, the Board Chairman, Noble Dr Francis Denteh , has stated.
According to him, the bank continued its vision of creating value for shareholders and excelled in all the key performance ratios of the banking sector.
Addressing shareholders at the bank’s 34th Annual General Meeting at Jamasi on Saturday March 23,2024, Noble Dr Denteh revealed that, the bank increased its savings portfolio from Gh¢ 48,833,786 in 2021 to Gh¢ 59, 682,490 in 2022 representing 22 per cent increase
He added that Demand Deposit also grew from Gh¢ 18,979,998 in 2021 to Gh¢ 23,330,409 representing 23 per cent increase.
He revealed that, while the bank recorded over one million Ghana cedis profit, shareholders fund grew by 16 per cent, compared with the previous growth of 12 per cent.
Noble Dr Francis Denteh urged shareholders and other customers to remain loyal to the bank as the financial institution continues to grow in strength
“Notwithstanding challenges, in deposit mobilization on the back of general economic challenges, the bank’s deposit mobilization drive remained strong, and recorded a growth rate of 19 per cent compared to the previous growth of 10 per cent”
“The bank maintained the required benchmarks (even above the benchmarks) for Capital Adequacy Ratio, Primary and Secondary Reserves throughout the 2022 accounting year,” Dr Denteh added.
For his part the Chief Executive Officer for the Bank, Mr Micheal Aidoo disclosed that the bank spent a total amount of Gh¢ 56, 910 on corporate social responsibility activities toward the stakeholders within its catchment areas, with special focus on health, education, security, agriculture and other social needs.
He added that, the bank will continue to extend support to individuals and groups in need in all catchment areas.
He noted that the bank as part of efforts to bring banking at the door steps to the customers have introduced and online banking platform
He urged all customers to take advantage of the innovation to transact business with the bank at the comfort of their homes and offices.
Source: Ghana/otecfmghana.com/Jacob Agyenim Boateng
