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| pix by unachukwu frank |
La community bank, a rural bank in La at their 26th
Annual General Meeting which took place at the Osu Presbyterian Church Hall
announced their financial performance, making GHC1.41m profit in 2013.
Speaking with the
General Manager of the bank, Mr. Augustus Pappoe, he said the bank’s financial
performance has tremendously improved, compared to that of the previous year as
the bank has moved from 20th position on the profit league table to
the 12th position in 2013.
The improved financial
performance can be seen in the difference between the 2012 profit which was
GHC858, 679 and 2013 profit, GHC1.41m, he added.
He said their branching
network has a historical problem as they were not initially allowed to operate
beyond the La community but this problem was resolved some few years ago when
the bank received the directive to operate outside the community. They
therefore took advantage of this opportunity to open a branch in 2007 at Madina
and 2009 at Teshie and Nungua.
Mr. Augustus, during
the interview, told B&LG that opening branches are capital intensive as the
bank is operating in the city and not in the rural area, but the bank has been
able to establish the standards that any universal bank has established.
He added that, the bank
is in the process of opening branches in the vicinity between Kaneshie and Mallam, and between Circle to
Achimota before the end of 2014 precisely.
Although the bank does
not have much branches, it has been experiencing tremendous improvement in
their profit margins due to staff commitment, resolve to fix any challenges,
raising of more deposit and investments to improve the lives of customers who
bank with the bank as one of their corporate strategies is to eliminate poverty
in the community, he added.
He finally urged all
customers and potential customers to bank with La Community Bank as it is a
bank that can be relied upon and is ever ready to support customers in any
venture they undertake. He urged individuals who are not saving with the bank to
start with their susu collectors to reduce the stress of coming to the bank and
have confidence in the bank as it is there to improve the lives of the
community and provide greater opportunities for everyone.
By Addotey Michael
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