The amount compares with the GH¢8,227,290 it released the previous year.

During the same period, the bank declared a net profit of GH¢1,621,043 as against GH¢938,987 it posted in 2022. Its stated capital for 2023 was GH¢1,323,261.

The Chairman of the Board of Directors of the bank, Benjamin Amoah, announced this at the fifth annual general meeting of the bank at Winneba at the weekend.

He attributed the positive achievements of the bank to the improvement in risk management systems to reduce bad debt, coupled with the offering of training for the staff to check revenue leakages.

Mr Amoah added that the bank also introduced new products to entice customers.

He advised shareholders and customers of the bank to have confidence and continue to do business with the bank.

Job creation

The Chief Executive Officer (CEO) of the bank, Daniel Amoah Gyampoh, said the bank had been complementing the government's efforts in job creation by employing more youth in its 10 branches spread throughout the country.

Mr Gyampoh advised loan defaulters to honour their obligations to the bank to enable others in need of similar facilities to benefit.

He made a passionate appeal to the government to reduce the over 25 per cent taxes collected from rural and community banks, saying it was negatively affecting the fortunes of banks.

The Member of Parliament (MP) for Gomoa West, Richard Gyan-Mensah, admonished the bank to adopt new initiatives including Information Communication Technology (ICT) to improve its services.

He advised shareholders who were contemplating selling their shares in the bank to reconsider their decision.

Attractive initiatives

In an address read on behalf of the Managing Director of the ARB Apex Bank, Alex Kwasi Awuah, he commended the board, management and staff of the bank for their assiduity and the adoption of attractive initiatives to make the bank very attractive.

He, however, urged them to focus their attention on digital banking and also acquire ATMs to enhance the services rendered by the bank.