Akuapem Rural Bank at Mamfe in the Akuapem North District of Eastern Region has out-doored a new corporate cloth.
Launching the corporate Friday-wear was part of activities marking the bank’s fortieth anniversary launch held recently at Mampong-Akuapem in the Eastern Region.
The new cloth, according to directors of the bank, is a consistent move to maintain the bank’s corporate image and brand awareness.
The General Manager, Mr. Kingsley Kyere, tells Business & Financial Times that introducing the new cloth is part of the bank’s reform approaches to meet current marketing trends in the banking industry.
According to him, healthy competition in the banking industry is bringing some forms of innovative strategies, and the board and management as well as staff have a responsibility to make conscious efforts toward meet prevailing standards.
The bank has made very significant impact in the rural economy and supported the various communities where it operates in the area of corporate social responsibility.
Mr. Kyere attested that the banking environment has experienced some challenges since government started the clean-up, and with the outbreak of COVID-19 the board and management has exhibited some level of resilience and been able to withstand the difficult times.
According to him, introduction of the corporate cloth is one of the many marketing activities that will be rolled out in the year 2021 after 40 years of existence and making meaningful impact in the rural economy. He is however confident that by next year Akuapem Rural Bank will have surmounted all challenges and taken-off well to serve its cherished customers even better.
Akuapem Rural Bank continues to show signs of resilience, recording some remarkable growth in all indicators despite punitive impacts of the COVID-19 outbreak on the economy.
The bank has been consistent in maintaining positive profit performance; profit before tax in 2020 was GH¢1.6million, after falling from GH¢3.2million in 2016 to GH¢0.6million in 2019.
The 2020 Profit Before Tax represented a growth rate of 166% over the 2019 performance, an indication of great prospects and opportunities for the bank, cherished customers and shareholders.
The Bank recorded a strong credit portfolio performance with Non-Performing Loans Ratio of 4.2% in 2020. Similarly, it consistently maintained a strong solvency position and recorded a Capital Adequacy Ratio of 20.46% at the end of December 2020. This high CAR indicates that the bank has enough capital space to do more business.