Management of the Association of Rural Banks (ARB) has indicated that despite the Bank of Ghana’s rigorous banking sector clean-up to boost the financial sector and the impact of the coronavirus pandemic, rural banking remains robust.
Rural banking saw an increase in deposits from ¢2.85 billion in 2017 to ¢3.88 billion at close of 2019.
In spite of the impact of COVID-19, rural banking has seen some modest level of growth from ¢4.03 billion at the end of March 2020 to ¢4.23 billion at the end of June 2020.
The Managing Director of the Apex Bank of the Association of Rural Banks (ARB), Kojo Mattah who disclosed this said the positive development was as a result of management and boards of rural and community banks (RCBs) consistently pursuing service innovation and digital technology.
Mr Mata was speaking at the 19th Annual Managers’ Conference of the Apex Bank in Ho.
He said the Bank will sustain the current momentum for results-oriented change that is driving progress of rural and community banks through innovation and digitization.
Mr Mattah noted that innovation remains a key growth mechanism that has enabled rural banks to provide competitive products and enhanced services and urged people to transact business with rural banks.
The Volta Regional President of Association of Rural Banks, Simon Nero Davor urged Board members of rural banks not to take loans from the banks for ethical reasons.
The 19th Annual Managers’ Conference of the Apex Bank was themed theme: “The Speed of Change”.
By: Elorm Aryee.
