Sekyere Rural Bank records GH¢1,170,166 profit before tax

The Sekyere Rural Bank recorded a profit before tax of GH¢1,170,166, representing a 481% growth rate in the year 2018, Mr. Francis Denteh, Board Chairman, has announced.

He said in spite of the major challenges that confronted the Ghanaian banking industry, the dedicated Board of Directors, staff, shareholders and enviable customers contributed to the growth in profit.

He disclosed that the Board of Directors had recommended the payment of a dividend of GH¢0.00362 per share, amounting to GH¢250,000, for the year 2018.

According to the Board Chairman, the Sekyere Rural Bank Limited continued with its efforts in contributing towards the development of its operational areas in 2018, for which the bank donated a total amount of GH¢71,858 to six institutions and communities as part of its Corporate Social Responsibility (CSR).

Mr. Denteh hinted that plans were far advanced to acquire a sizable plot of land to put up a befitting head office building for the bank at Jamasi, and implored the shareholders to significantly increase their holdings to support the project, since it involves significant capital expenditure.

The Board Chairman announced that the bank would, with the support of shareholders, continue to pursue strategies that would drive it towards the achievement of the vision of becoming the rural bank of choice in Ghana to achieve significant prowess, despite competitive banking in which they operate.

He gave the assurance that the Board of Directors would give significant attention to good corporate governance, effective risk management practices, advanced compliance programmes and excellence in customer service, and said the board had resolved to adopt more technologically-efficient and effective methods to better serve its cherished customers, since technology and digitisation had become a critical success factor in modern banking.

Michael Aidoo, General Manager, disclosed that the bank would continue to invest in education, health and agriculture as its quota in contributing to the welfare and socio-economic development of the people.

He said the bank had witnessed growth, evidenced in the current nine branches, following increases in profit over the years.

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