The Manya Krobo Rural Bank increased its profit from GH¢ 763,179 in 2013 to GH¢1,172,553 in 2014.
The bank also achieved a net worth growth of GH¢4,996,970 as at 31st December 2014.
According to a member of the board of directors Mr. Matey-Johnson, the tax expense of the bank increased from GH¢64,788 in 2013 to GH¢88,858 in 2014 during the year under review.
He said for year 2014, the board of directors declared a dividend of GH¢330,512.
Mr. Matey-Johnson made this known at its 34th annual general meeting at Abanse –Odumasi Krobo in the Eastern region.
He also revealed that, the directors are to ensure that the company keeps proper accounting records that disclose reasonable accuracy at any time the financial position of the company. The directors are also responsible for safe guarding the assert of the company and talking reasonable steps for the prevention and detection of fraud and other irregularities.
Source: ritefmonline.org
