Pakyi-Number-Two (Ash), Oct 31, GNA – Rural and Community Banks (RCBs) have been urged to give priority to staff training to enhance the quality of their services.
Mr. Duke Osam-Duodu, Deputy Managing Director of the ARB Apex Bank, said there was the need to put more effort and resources into training to survive the intense competition in the banking industry.
He was addressing the 31st annual general meeting of shareholders of the Atwima-Kwanwoma Rural Bank at Pakyi-Number-Two in the Amansie West District.
He told them that in the face of the continued increase in the number of banks and non-banking financial institutions, they could only retain customer loyalty through improved services.
He urged them to focus on the introduction of innovative products and take deliberate steps to build good corporate image.
Mr. Osam-Duodu also reminded the board of the directors to put in place risk management policies to identify, assess, monitor and control operational and credit risks.
He also encouraged the rural bank operators to have an information communication technology (ICT) security policy to minimize risks associated with the implementation of ICT products.
The Deputy Managing Director called for the strengthening of the banks internal control mechanisms – making sure that adequate and effective measures instituted to maintain operations are efficiency.
He saluted the Atwima-Kwanwoma Bank for its strong performance, which saw its after-tax-profit hit GH¢3.53 million, last year, representing 97.04 per cent increase over the previous year’s figure of GH¢1.79 million.
Its investments also rose from GH¢30.20 million to GH¢38.24 million with total assets climbing to GH¢62.52 million from GH¢52.19 million.