The Odotobri Rural Bank at Jacobu has declared a net profit of GH¢13,624,874 million before tax representing an increase of 92.17 percent as against GH¢4,663,415 million it made in 2022.
The bank’s total deposits recorded an increase of GH¢242,773.461 million from 2022 to GH¢314,372, 747 million in 2023 representing 29.47 percent.
The Chairman of the Board of Directors of the Bank, Rev. Prince Osei Owusu announced this at the bank’s 37th Annual General Meeting held at the Nana Adu Gyamfi Community Centre at Jacobu, in the Amansie Central District of the Ashanti Region.
He said the increase in deposits was due to intensified mobiliSation efforts by Directors, Management and Staff, coupled with the growing public confidence in the bank’s catchment areas.
According to Rev. Osei Owusu, in 2022, the bank recorded an increase of GH¢273,808,115 million to GH¢357,993,798 million in 2023 representing an increase of 30.75 percent in total Assets.
He pointed out that the year 2023 was characterized by a decreasing trend of interest rate in the financial landscape particularly in the primary and secondary markets, as well as the decreasing trend of interest rate and inflation as part of economic recovery measures to stabilize the economy.
The Board Chairman commended the management, staff and shareholders for their hard work and sacrifices, time, effort and expertise of directors that contributed to the success of the bank and urged them to sustain the spirit.
The Managing Director of the ARB Apex Bank, Alex Akwasi Awuah, was full of praise for the bank for being one of the best in the country and admonished them to continue to work assiduously to create a viable value for shareholders of the bank.
