Business News of Wednesday, 8 January 2020Source: ghananewsagency.orgToende Rural Bank makes GHC261,355.00 profit in 2018The bank made significant profit in 2018The Toende Rural Bank Limited at Zebilla in the Bawku West District of the Upper East Region has recorded an amount GHC261,355.00 as profit before tax in 2018. Dr Joseph Ayembilla, the Board Chairman of the Bank, said this at the 13th Annual General Shareholders’ meeting at Zebilla. The Board Chairman said the bank’s total assets rose from GHC12,907,056.00 in 2017 to GHC19,110,354.00 in 2018, representing 48.06 per cent increase. It also recorded 12.80 per cent increase in Loans and Advances, making GHC5,271,153.00 in 2017 and GHC5,945,920.00 in 2018. And recorded an increase in Short Term Investments from GHC4,400,000.00 in 2017 to GHC9,080,048.00 in 2018, representing a 106.36 per cent rise.

Source: GhanaWeb January 08, 2020 01:52 UTC