The Managing Director of ARB APEX Bank Limited, Mr Eric Osei-Bonsu, has advised Rural and Community Banks (RCBs) to form co-operative mergers to enable them survive the competitive landscape in the country.
Mr Osei-Bonsu observed that the banking sector had not only become very competitive but also risky and therefore urged RCBs to initiate policies to help them identify, assess, monitor and control risks.
This was contained in a speech read on his behalf at the 24th Annual General Meeting of the South Akim Rural Bank Limited held at Nankese, near Suhum on Saturday.
Mr Osei-Bonsu announced that Apex Bank would soon automate its star product, the Apex Link Money Transfer, to make it more efficient, fast, safe and secure.
He said to enable the South Akim Rural Bank to operate efficiently and remain dynamic to innovative products in the sector, it would need more investments.
He therefore urged shareholders to buy more shares to enable the Bank to increase its capital base to purchase new equipment.

The Chairman of the Board of Directors of the Bank, Mr William Kwadwo Boateng, said despite the heightening competition and pressures, it achieved remarkable improvement in its financial performance in 2008.
He said the Bank made a profit of 108 percent over 2007 operations, adding that dividend per share of the Bank also increased by 75 percent.
Mr Boateng said as a result of the performance of the Bank, the Board of Directors of the Bank had recommended bonus shares to all shareholders as of the year ending December 31, 2008.