SEKYERE RURAL BANK DECLARES DIVIDEND (PAGE 26, JANUARY 5)

THE Sekyere Rural Bank has declared a total of GH¢111,943.83 as dividend for the 2007 financial year to motivate the shareholders to continue doing brisk business with the bank.
A total of 6,711 shareholders would benefit from the declared dividend with each share attracting 23 Ghana pesewas.
The bank also offered a total of GH¢5,768,819 as loans to a number of small and medium- scale businessmen and women in its catchment area to enable them to expand their businesses or open new ones.
In 2006, the bank offered a total of GH¢3,852,347.38 as loans to the business community in the catchment area.
The Chairman of the Board of Directors of the bank, Mr Kwame Dapaah Siakwan, who announced this during their annual general meeting held at Mampongteng, pointed out that the board was more determined than ever to collaborate with management and staff to initiate products, programmes and policies that would accelerate its growth for the benefit of the shareholders and clients.
He explained that the loans offered went into agriculture and cottage industries, as well as transport and business sectors among others.
On profit, he said the bank accumulated as much as GH¢612,176.91 in 2007 as against GH¢306,249.67 in 2006, with deposits increasing from GH¢6,417,194.00 in 2006 to GH¢7,872,522.00 in 2007.
On investments, he said the bank invested a total of GH¢2,398,191.00 in 2006 as against GH¢1,737,397.00 last year with liabilities decreasing from GH¢118,051.46 in 2006 to GH¢24,289.13 last year.
On the way forward, Mr Siakwan said since the banking environment had become very competitive, plans had been put in place to enable the bank to mobilise a lot of revenue to propel it to higher heights in the years ahead.
The Chief Executive of the bank, Mr K. Obese Antwi, pointed out that the outstanding performance of the bank in terms of revenue mobilisation and quality delivery of service had won many laurels for the bank.
On the Information and Communication Technology (ICT), Mr Antwi noted that the bank had improved considerably, having fully computerised its operations to provide efficient services to its numerous clients.
On its corporate responsibilities, he said they had supported a lot of development projects, including the rehabilitation of the Jamasi Police Station, financial support to the 50th Anniversary Celebration of the Adu Gyamfi Secondary School at Jamasi, periodic donations in cash and in kind to a number of schools and communities for streetlights, wells and KVIP places of convenience.