Atwima Kwanwoma Rural Bank Limited in the Amansie West District of Ashanti Region has posted another remarkable growth in all the financial indicators in the 2015 year under review. The Bank posted a net profit of approximately GH¢7.2million in the 2015 period under review as against a little over GH¢ 4.4million in the previous year, … Read more
The Atwima-Kwanwoma Rural Bank continues to show strong growth, posting a net profit of GH¢7.19 million on its operations, last year. Mr. Patrick Owusu, the Board Chairman, said this represented an increase of 62.46 per cent over the previous year’s figure of GH¢4.43 million. Addressing the 33rd annual general meeting of the shareholder at Pakyi-Number-Two … Read more
The Bank of Ghana (BoG) is using the ARB Apex Bank to resuscitate some 30 rural and community banks (RCBs) from imminent collapse after their operations and finances were weakened by continuous poor corporate governance, mismanagement and thin capitalisation. As of June, this year, another 14 of the 30 banks classified as “marginal or weak … Read more
The ARB Apex bank has said it is engaging the Ministry of Finance to review the taxes on rural banks, following the hike in corporate taxes from 8 percent to 25 percent. Act 896, of the recently passed New Income Tax Act, 2015 upwardly reviewed the corporate taxes of rural banks. The elevation of taxes … Read more