Story by 

Joseph A. Coffie

The 28th Annual General 

Meeting of the GA Rural Bank Limited was held today, 3rd October 2020 at Amasaman, the Bank's Premises.

This meeting was attended by the board chairman, board of directors, shareholders, representative of the managing director of Apex Bank Limited, Executive Director of Association of Rural Banks, chairmen and directors of sister rural banks among others.

Mr. Daniel Benjamin, the general manager of the bank welcome everyone and indicated clearly how the entire world and Ghana is grappling with the novel corana virus and its impact on the bank and the economy.

He entreated all to observe the protocols instituted by the government of Ghana to save lives. He also said that "Your support and confidence in us even in these uncertain times drive us to look for more innovative ways to create greater value".

He noted that "The performance for the 2019 fiscal year increased marginally amidst the clean-up and recapitalization exercise by Bank of Ghana".

"Currently your esteemed bank has stood the rest of time and has registered with the Ghana Deposit Protection Corporation." He stated.

He however indicated clearly that "The Ghana Deposit Protection Corporation in accordance with the GDPC, Act 931 as amended is a form of insurance scheme which is meant to reimburse depositors in the event of a bank failure". This means depositors monies are safe in case the bank faces solvency issues. Let me assure all shareholders that the bank is very resilient and will continue to stay afloat he said.

The general manager also said that, the government is constructing a four tier interchange at Pokuase and expanding that Accra-Kumasi Highway. This has affected our Medie Branch. Plans are far advanced to relocate the branch to a new venue which is about 50 meters away from the current location.'

He made mentioned of the their flagship product, "the E-Susu which was introduced in 2017 is doing extremely well and the challenge is getting trustworthy and committed employees for this product."

He appeal to all and sundry to recommend reliable people for employment at susu agents to help improve the fortunes of the bank.

The General Manager Mr. Daniel Benjamin concluded by saying, covid-19 has caused  havoc on businesses and  individuals, as a result, the bank has reduced interest rates to ease the pressures of our esteemed customers and therefore urge all loan defaulters to approach them to renegotiate and start paying all facilities granted them.

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