The Juaben Community Bank injected GH¢1.6million into the country’s agricultural sector to help improve the food stock and enhance export in 2014.
The amount represented a 15 per cent increase over the GH¢1.4million devoted to the sector in 2013.
The Bank has over the years, supported players along the agriculture value chain, comprising poultry production, animal husbandry, citrus, oil and palm cultivation.
Speaking to the Graphic Business on the sidelines of the bank’s Annual General Meeting (AGM) at Juaben, the Chief Executive Officer (CEO) of the Bank, Noble Kwabena Agyei-Poku, said the increased support to the sector was due to feedbacks it received from some beneficiaries and its positive impact on the industry.
He explained that apart from aiming at profit making, it also sought to creating jobs, improving the standard of living of people in its catchment area, enhancing the nation’s productivity as well as feeding both local and international market.
He also expressed the bank’s commitment towards enhancing the lives of the people in its catchment area.
Financial performance
The Board Chairman of the Bank, Mr Kwabena Krobea Asante, announced a profit after tax of GH¢2.2 million in 2014, as against GH¢2.4 million in 2013. This represents a 6.85 per cent decline in the bank’s profit.
He blamed the losses to the surging energy crisis and worsening economic conditions which generally did not support the growth of businesses in the country.
Deposits grew from GH¢30million in 2013 to GH¢34million in 2014, representing an increase of 13.55 per cent while total assets increased from GH¢40million in 2013 to GH¢44.9 million, showing an increase of 11.36. per cent.
Corporate Social Responsibility
The bank spent GH¢77,200 to support health and sanitation, agriculture (Farmers’ Day Awards), the education sector and other institutions in the bank’s catchment area.
Some of the beneficiary institutions include Ghana Blind Union, Juaben government hospital, National Fire Service, Juaben Presby Primary School and Achinakrom Senior High School.
The Board Chairman also said the bank was currently supporting 70 students with scholarship schemes for which a total of GH¢68,651.70 was spent in the year under review.
The Paramount Chief of Ashanti Juaben, Nana Otuo Srieboe II, who chaired the AGM, commended staff and management of the bank for its dedication and hard work that had led to the creation of many jobs in its catchment area and beyond.
He also commended the various stakeholders who helped in diverse ways towards the establishment of the bank and pledged the traditional council’s support towards the operations of the bank to improve the lives of shareholders and other clients.
Source: Graphic.com.gh
