Story: Benjamin Xornam Glover, Sandema
Builsa Community Bank Branch (BUCOBANK) started operating from Sandema in 1997 with a vision to be the leading rural bank and the centre of excellence for the delivery of efficient and effective micro finance services.
Sixteen years down the line the bank says it is alive to its responsibilities of not only encouraging saving habit among people within its catchment area ut also helping its clients to raise capital to start a business venture or expand existing business and also help to easily access credit facilities from the bank.
Speaking at the bank’s annual general meeting in Sandema the Board Chairman, Mr Pascal Avabe Ayaric said the bank has over the years strived to provide all stakeholders with cost effective services to justify the reasons for its existence.
Mr Ayaric said by close of December 2012, the bank disbursed loans totaling GH c 3.1 million as against GH c2.5 million last year to groups engaged in agriculture, construction, cottage industries, commerce and transport.
He added that with the exception of stated capital, the bank also recorded significant improvements in almost all the key areas of operations which led to its being rated 32nd out of 133 Rural and Community Bank nationwide by the Efficiency Monitoring Unit of the ARB Apex Bank by the end of December 2012.
He said during the year of during the year under review, the bank spent a total of GH c 3.812 in support of various interventions as part of its corporate social responsibilities and this amount covered support in the areas of education, health, agriculture, sports and culture.
In achieving this vision, in the face of growing competition in the banking environment, the Board Chairman said the bank has made provision for the installation of an Automated Teller Machine at its branches to enable customers of the bank access their money at their convenience as well as ease the congestion in the banking halls particularly during pay days.
On micro financing, the Board Chairman noted that government’s development agenda continue to see private sector development as the engine of growth with emphasis on small and medium scale business enterprises. To that end, the bank with support from its development partners such as TRIAS, SPEED and CORDIA as well as the Government of Ghana will continue to support its clients with flexible credit schemes to improve on their income generating activities as part of efforts aimed at reducing poverty in its operational area.
“Our Credit with Education Scheme has covered almost all the communities in the Builsa North and South Districts. We are expanding our outreach in the Bolgatanga Municipality, Kassena Nankana Municipality, Talensi and Nabdam Districts. We therefore want to encourage people particularly women to join this scheme in order to have reliable source of funds for their small businesses,” Mr Ayaric said.
He disclosed that as part of the bank’s expansion programme, it has acquired a new plot of land for the construction of a permanent bank building at Fumbisi where it operates a mobilization centre. The Board Chairman said all things being equal; the structure should be completed by the end of this year, adding that the bank has already applied to the Bank of Ghana for the upgrading of the Fumbisi mobilization centre to a full agency.
Mr Ayaric said the board has initiated the process to get a new strategic document for the next five years to replace the existing one adding in the remaining months on this year, the board will continue to adopt effective risk management strategies that will ensure that the bank achieve its goals of being recognized as one of the top ten rural /community bank in Ghana.
“The banking landscape continues to undergo dramatic changes which cut across regulations, technology, competition and new products. As a community bank we must effectively prepare to embrace and overcome these challenges,” the Board Chairman said
A client of the bank, Mr Gabriel Asumboya, whose business, Viikandi Investments who was rewarded as the best depositor for the year 2012 praised BUCOBANK for being alive to responsibilities. He said for the past four years since he started doing business with the bank, they have played their role effectively. He however urged the bank to be more innovative by developing and introducing new and attractive products, such as SMS and internet banking to meet the needs and aspirations of the clients in the area.
Mr. James Kwesi Arko, Manager of Bolgatanga Branch of ARB Apex Bank, commended the board, management, staff and shareholders of BUCOBANK for working relentlessly to improve performance in the face of intense competition. He urged the bank’s management to enhance its loan recovery strategies.
Mr. James Kwesi Arko who spoke on behalf of Mr. Kwadwo Aye Kusi, the Managing Director of the ARB Bank Limited also stressed the need for management to strengthen the internal control mechanisms to ensure that adequate and effective measures are put in place to enhance standards and improve performance, with a view to ensuring efficient operations.
For 2011, a total amount of GH c 84,501 was charged as provision for bad and doubtful debts as against GH c 107,424 in 2010 by BUCOBANK. Despite being a reduction, the 2011 figure was considered to be on the higher side and as such management was encouraged to continue to o take legal action against defrauding customers to recover all outstanding loans of the bank.
The Builsa North District Coordinating Director, Alhaji Mohammed Issaka on behalf of the assembly congratulated the board of directors of the bank, management, staff and the customers for the diverse role they played in bringing the bank to this stage.
He said emerging competitions demands that management will have to improve access of banking services to the people in the District in order to remain in business.
Mr Issaka said while the assembly will continue to create the enabling environment for business to flourish, it behooves management of the bank to be innovative and responsive to the needs of clients to attract more customers.
-End-
Story: Benjamin Xornam Glover, Sandema
Builsa Community Bank Branch (BUCOBANK) started operating from Sandema in 1997 with a vision to be the leading rural bank and the centre of excellence for the delivery of efficient and effective micro finance services.
Sixteen years down the line the bank says it is alive to its responsibilities of not only encouraging saving habit among people within its catchment area ut also helping its clients to raise capital to start a business venture or expand existing business and also help to easily access credit facilities from the bank.
Speaking at the bank’s annual general meeting in Sandema the Board Chairman, Mr Pascal Avabe Ayaric said the bank has over the years strived to provide all stakeholders with cost effective services to justify the reasons for its existence.
Mr Ayaric said by close of December 2012, the bank disbursed loans totaling GH c 3.1 million as against GH c2.5 million last year to groups engaged in agriculture, construction, cottage industries, commerce and transport.
He added that with the exception of stated capital, the bank also recorded significant improvements in almost all the key areas of operations which led to its being rated 32nd out of 133 Rural and Community Bank nationwide by the Efficiency Monitoring Unit of the ARB Apex Bank by the end of December 2012.
He said during the year of during the year under review, the bank spent a total of GH c 3.812 in support of various interventions as part of its corporate social responsibilities and this amount covered support in the areas of education, health, agriculture, sports and culture.
In achieving this vision, in the face of growing competition in the banking environment, the Board Chairman said the bank has made provision for the installation of an Automated Teller Machine at its branches to enable customers of the bank access their money at their convenience as well as ease the congestion in the banking halls particularly during pay days.
On micro financing, the Board Chairman noted that government’s development agenda continue to see private sector development as the engine of growth with emphasis on small and medium scale business enterprises. To that end, the bank with support from its development partners such as TRIAS, SPEED and CORDIA as well as the Government of Ghana will continue to support its clients with flexible credit schemes to improve on their income generating activities as part of efforts aimed at reducing poverty in its operational area.
“Our Credit with Education Scheme has covered almost all the communities in the Builsa North and South Districts. We are expanding our outreach in the Bolgatanga Municipality, Kassena Nankana Municipality, Talensi and Nabdam Districts. We therefore want to encourage people particularly women to join this scheme in order to have reliable source of funds for their small businesses,” Mr Ayaric said.
He disclosed that as part of the bank’s expansion programme, it has acquired a new plot of land for the construction of a permanent bank building at Fumbisi where it operates a mobilization centre. The Board Chairman said all things being equal; the structure should be completed by the end of this year, adding that the bank has already applied to the Bank of Ghana for the upgrading of the Fumbisi mobilization centre to a full agency.
Mr Ayaric said the board has initiated the process to get a new strategic document for the next five years to replace the existing one adding in the remaining months on this year, the board will continue to adopt effective risk management strategies that will ensure that the bank achieve its goals of being recognized as one of the top ten rural /community bank in Ghana.
“The banking landscape continues to undergo dramatic changes which cut across regulations, technology, competition and new products. As a community bank we must effectively prepare to embrace and overcome these challenges,” the Board Chairman said
A client of the bank, Mr Gabriel Asumboya, whose business, Viikandi Investments who was rewarded as the best depositor for the year 2012 praised BUCOBANK for being alive to responsibilities. He said for the past four years since he started doing business with the bank, they have played their role effectively. He however urged the bank to be more innovative by developing and introducing new and attractive products, such as SMS and internet banking to meet the needs and aspirations of the clients in the area.
Mr. James Kwesi Arko, Manager of Bolgatanga Branch of ARB Apex Bank, commended the board, management, staff and shareholders of BUCOBANK for working relentlessly to improve performance in the face of intense competition. He urged the bank’s management to enhance its loan recovery strategies.
Mr. James Kwesi Arko who spoke on behalf of Mr. Kwadwo Aye Kusi, the Managing Director of the ARB Bank Limited also stressed the need for management to strengthen the internal control mechanisms to ensure that adequate and effective measures are put in place to enhance standards and improve performance, with a view to ensuring efficient operations.
For 2011, a total amount of GH c 84,501 was charged as provision for bad and doubtful debts as against GH c 107,424 in 2010 by BUCOBANK. Despite being a reduction, the 2011 figure was considered to be on the higher side and as such management was encouraged to continue to o take legal action against defrauding customers to recover all outstanding loans of the bank.
The Builsa North District Coordinating Director, Alhaji Mohammed Issaka on behalf of the assembly congratulated the board of directors of the bank, management, staff and the customers for the diverse role they played in bringing the bank to this stage.
He said emerging competitions demands that management will have to improve access of banking services to the people in the District in order to remain in business.
Mr Issaka said while the assembly will continue to create the enabling environment for business to flourish, it behooves management of the bank to be innovative and responsive to the needs of clients to attract more customers.
-End-
No comments:
Post a Comment