The ARB Apex Bank's highly anticipated mobile banking solution app is at the testing phase with more than 2,000 employees of rural and community banks enrolled on it to ensure effective operations of the banks.

Mr Alex Kwasi Awuah, the Managing Director (MD) of ARB Apex Bank PLC, disclosed this in a speech delivered on his behalf at the 36th Annual General Meeting (AGM) of the Agona Rural Bank Limited at Kwanyako in the Agona East District of Central Region.

Mr Awuah said: "once this testing phase is completed, we will proceed to launch the approved USSD Code *992# to our esteemed customers as part of efforts to enhance quality service.

The Managing Director said the move would enable their valued customers to easily access a wide range of banking services such as funds transfer, bill payments, airtime top-up, bank statement requests and many more.

Consequently, the Apex Bank would further initiate the Financial Sector Development Project, all of which are designed to enhance the banking experience at RCBS.

The MD said he believed strongly that the App would encourage the RCBs to actively enlist a substantial number of customers as anticipated by the mobile, internet and agency banking solutions to bring about a transformative shift in the banking sector.

"It is projected that if executed effectively by the banks, it will significantly contribute to their revenue generation to improve operations of the banks"

The MD congratulated the shareholders of the Agona Rural Bank on holding a successful 36th AGM and expressed the hope that a more successful performance story would be told next year.

He said the impressive performance displayed by the board of directors and management obviously showed that they would deploy every arsenal at their disposal to make sure the bank became competitive again.

Mr Awuah said the splendid performance put up by Agona Rural Bank was a worthy example and must be emulated by sister banks to enable them to become viable and sustainable.

Mr James Kojo Buabeng, Chairman of the Board of Directors of the Bank, said the bank made significant profit of GHC 214,784 in 2022 as against a loss of GHC 60,453 in 2021, the year under review.

The chairman said the bank had not been able to meet the Bank of Ghana requirement of GHC1,000,000 share capital, adding that currently it needed GHC123,400 to meet the minimum capital requirement.

Mr Buabeng appealed to the shareholders of the bank and potential customers to buy more shares to enable the bank to remain recognised as a rural bank by the BOG.

Mr Philip Lovemore Amedefu, Chief Executive Officer (CEO) of the Bank, reiterated calls on shareholders, well to do citizens of Agonaman and investors both local and foreign to invest in the bank.

The CEO said the future looked bright for the bank and expressed the hope and confidence that 2023 would be much better than 2022.