AMANTIN BANK SUPPORTS COMMUNITIES (PAGE 22, JAN 11, 2011)

THE Amantin and Kasei Community Bank in the Brong Ahafo Region is supporting a number of communities in the four districts in which it operates with development projects and programmes to better the lot of the people.
The support is in the areas of educational infrastructure, water and sanitation, and scholarships, among others.
Disclosing this at the annual general meeting of the bank at Amantin, the Chairman of the Board of Directors of the bank, Dr John Oduro Boateng, said in pursuit of the development of education, the bank had awarded bursaries to students, donated 40 double-decker beds and 20 mono desks worth GHҐ3,000 to the Yeji Senior High School, and 140 mono desks to the Kwame Danso SHS.
He said the bank had also spent GHҐ11,000 on the provision of portable water for Amantin, Kasei, Nkwanta and Hiawoanwu and was currently constructing a kitchen for the Amantin SHS at a cost of GHҐ10,300.
Dr Boateng mentioned areas that were supported with loans totalling GHҐ1,986,589 as agriculture, cottage industry, transport, trading and workers advances, among others.
He stated that the bank made significant strides in its operation in 2009, raking a profit of GHҐ211,553, an increase of 73 per cent over the previous year’s figure of GHҐ122,514.
The board chairman stressed that the achievements of the Amantin and Kasei Community Bank had resulted in its selection for all government and non-governmental poverty reduction interventions in its operational communities.
The interventions included Community-Based Rural Development Programme, Rural Enterprises Project, Millennium Development Authority, MASLOC, Root and Tuber Improvement and Marketing Project, Technoserve Rural Poverty Reduction Project and the Ghana Energy Development and Access Project.
Dr Boateng said 14 years into the bank’s operation, it had established branches in four districts — Atebubu-Amantin, Ejura-Sekyedumase, Sene and Pru.
He said the share capital of the bank stood at GHҐ182,340, but stressed the need for it to be increased to enable the bank to meet the Bank of Ghana’s requirements.
Dr Boateng stated that the bank made significant strides in its core business of mobilising funds and channelling them into credit, despite the challenges the banking industry faced.
He said deposits, which stood at GHҐ2,289,862 in 2008, increased to GHҐ2,581,786 in 2009 while advances and investments also jumped from GHҐ1,663,155 to GHҐ1,997,158, and GHҐ776,590 to GHҐ1,176,590 within the same period.
The board chairman gave the assurance that the bank would continue to be alive with its social responsibility to its operational communities.
The President of Ashanti Regional Chapter of the Association of Rural Banks, Mr K. Dapaah-Siakwan, challenged the shareholders and other people to purchase shares in the bank.
He said t he performance of the bank was worthy of commendation.