Mr. Andrew Amanin Kwarteng, Board Chairman of Nwabiagya Rural Bank Limited (NRB), stated that the bank is ready to embrace all financial opportunities to improve its performance in the future.
According to him, the financial firm’s inability to collect GH 3,300,703 in interest on funds that were locked up with some fund managers had a significant impact on the bank’s financial results for the year 2021.
He underlined the institution’s readiness to execute a successful recovery of hard-core loans, close monitoring of top management performance, and the remaining locked-up funds with Fund Managers at the 34th Annual General Meeting of Shareholders of Atwima Nwabiagya Rural Bank.
He claims that the measure will hasten the bank’s smooth growth.
He assured that the NRB’s performance in all financial arenas, ” but not limited to deposits, assets, and low-risk investments,” is improving.
In the fiscal year 2021, the bank had outstanding growth patterns in several sectors of its operations.
Net interest grew from GHS 9,809,122 in 2020 to GHS 11,178,784 in 2021, a 13.96% rise.
From GHS 4,715,533 in 2020 to GHS 4,819,935 in 2021, commission and fees increased by 2.21%, or GHS 104,402.
Total operating income increased by GH 3,247,826 or 20.23% from GH 16,051,597 in 2020 to GH 19,299,423 in 2021.
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