Kwahu Praso (E/R), Oct.3, GNA- Mr. Eric Kwarkye Darffour, the Board Chairman of the Kwahu Praso Rural bank has hinted that the bank would soon open branches in commercial areas to generate more income.
Speaking during the 22nd Annual General meeting for stakeholders at Kwahu Praso in the Kwahu South District, he said the bank was mostly situated in rural communities and thereby affecting the bank’s deposits mobilization.
In view of this, he added that plans were far advanced to establish more branches at Ejisu, Konongo and Mpraeso to to bring its services to the doorstep of its clients.
The areas, Mr. Kwarkye Darffour mentioned were commercial towns and was hopeful that would enable the banks to increase and enhance their profit level.
Making reference to the bank’s profit in 2017, he explained that although there was an increase in their profit, it has not been encouraging and therefore urged the shareholders to purchase more shares to enable them meet up with the Bank of Ghana’s statutory requirement of GH¢1,000.000.00.
Mr. Kwarkye Darffour indicated that the bank granted a loan of GH¢11,261,663.60 to customers, out of which GH¢7,330,442.90 was recovered, leaving a gross outstanding loan portfolio of GH¢3,931,220.70.
He therefore urged recalcitrant defaulters to settle their indebtedness in order to enhance the liquidity situation of the bank.