Atwima Kwanwoma Rural Bank Limited opens new branch at Kronum
The Atwima Kwanwoma Rural Bank Limited has officially opened a new branch at Kronum a suburb of the Kumasi city in the Ashanti Region. The branch aims at providing banking services to the people of communities like Kodie, Dwenease, Afrancho, Buoho and other surrounding communities.
Speaking at the ceremony, the Chairman of the Board of Directors (BOD) Mr Patrick Owusu in his address stated that the newly opened branch started operating about 6 months ago and it has been able open accounts for 2,712 customers amid its official opening.
Atwima Kwanwoma Rural Bank Awarded Gold
Atwima Kwanwoma Rural Bank Limited was established in 1983 as the 68th Rural Bank to be licensed by the Bank of Ghana to offer banking services to the Rural and Sub-Urban Communities at Pakyi No. 2 in the Amansie-West District of the Ashanti Region.
The bank which began humbly from rented premises had focused, among others, on the provision of financial intermediations, inculcation of saving habit among the rural folks and the provision of community infrastructure.
Atwima Kwanwoma Rural Bank Pay Dividends Despite Slump In Profits
Shareholders of Atwima Kwanwoma Rural Bank will earn dividend of ten pesewas per share, one pesewa more than last year, despite a 14 per cent slump in profits. The bank’s profit after tax went down from 6, 942, 000 in 2016 to 5, 946 000 in 2017 on the back of 11 profit before tax drop over the same period. But despite the slump, the bank is dispensing a whopping 1 million Ghana cedis as dividends to its shareholders.
Officials blame the drop in profit on an increase in Corporate Tax from 8 to 25 percent and dwindling investment rates. Board Chairman, Patrick Owusu tells Nhyira FM the bank has had to pay dearly for the increased taxes.