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Last Quarter NewsLetter 1st JANUARY-31st MARCH, 2007
In This Issue:
- SEND OFF PARTY FOR MR E. K. KWAPONG, FORMER MANAGING DIRECTOR OF THE BANK
- UPDATE ON TRAINING
- EFFICIENCY MONITORING UNIT'S REPORT ON RURAL COMMUNITY BANKS
- APPOINTMENT OF NEW MD FOR THE ARB APEX BANK LIMITED BANK
The ARB Apex Bank Limited organized a thanks-giving service/send-off party for Mr. E. K. Kwapong, the former Managing Director of the Bank.
The service, which was held at the Conference Room of the Bank, was officiated by Honorable Most Reverend Dr. S. Asante Antwi, Immediate Past Presiding Bishop of the Methodist Church and a member of the Council of State.
In his sermon, the Most Reverend Asante Antwi described Mr. Kwapong as a courageous person who tirelessly worked to bring rural banking to its present level. He, however, charged the new Managing Director to continue form where Mr. Kwapong had left off or, if possible, move the rural banks to a higher level.
Mr. Eric Osei-Bonsu, the incumbent Managing Director in his speech during the reception, praised Mr. Kwapong for the countless achievements he had chalked for the Apex Bank.
He said the Bank would continue to remember the professionalism, gentle-nature, boldness as well as courage, diplomacy, humility and exemplary leadership which he displayed during his tenure of office.
He also praised Mrs. Kwapong for the support to her husband, which created an encouraging environment for Mr. Kwapong to work diligently and assiduously.
Mr. Osei-Bonsu said the seed that Mr. Kwapong had sown had blossomed into a formidable rural banking industry which is now recognized nationally and internationally.
He wished them long life and God's guidance, protection and a peaceful retirement.
UPDATE ON TRAINING
RCBs' DIRECTORS AND MANAGERS GO TO SCHOOL
The introduction of the e-zwich smart card would allow one to make payment with an electronic card loaded with money. Another latest electronic introduction in the banking setting is the eFASS- i.e. electronic Financial Analysis and Surveillance System. Introduced as part of the Bank of Ghana's IMPACT Project launched in 2005, the eFASS among others aims at improving the effectiveness and efficiency of working methods using:
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- Automation
- Business rationalization and
- Business process re-engineering.
The eFASS thus functions as a customised software developed exclusively for the Bank of Ghana to strengthen its analysis and surveillance processes, monitor performance of the banking sector and assist the enforcement of regulations, among others.
In their bid to equip the Rural and Community Banks with basic appreciation of the eFASS, the Bank of Ghana and the ARB Apex Bank have embarked on a country wide sensitization of all RCB's. Thus from February, 2008 to date, a total of 169 Directors, 71 managers and 64 sector officers from 92 RCBs have been trained. This is to expose Directors to an overview of the eFASS. In a brief remark at one of such eFASS training programmes in Sunyani, the Managing Director of the ARB Apex Bank Limited, Mr. Eric Osei-Bonsu, called on all RCBs to equip themselves for the challenges of the contemporary information technology conscious and competitive banking. He added that RCBs could not afford to be left behind and urged all to improve their operations as well as customer care.
Meanwhile, the eFASS training for the Directors would be completed in April with the training of the Northern Sector, Greater Accra and Volta Region RCBs. This will then be followed by the foot soldiers training.
EFFICIENCY MONITORING UNIT'S REPORT ON RURAL COMMUNITY BANKSApex News
The highlights of the quarterly report from the EMU for the period March, 2008 are as follows:
The five (5) strong Banks which emerged during the period were Kwahu, Akuapem, North Volta, Ahantaman and Asubonten R/Bs.
The seven (7) marginal Banks were Dumpong, Mponua, Ahafo Ano Premier, Asuo Pra, Ekumfiman, Lower Amenfi and Denkyiraman R/Bs. The only unsatisfactory Bank was Tano Agya R/B Ltd. The comparative ranking status at the end of the year (2007) revealed the following:- -four (4) Banks upgraded their status -one hundred and five (105) Banks maintained their status. -seven (7) Banks were downgraded -There were four (4) new Banks.
ON-SITE MONITORING ACTIVITIES
The Unit conducted on-site monitoring duties at Odotobri and Atwima Rural Banks in the Ashanti Region from 10th -14th March, 2008.
RFSP ACTIVITIES
Merchant Bank Ltd., consultants for the cleaning of RCB?s Share registers, held a training programme for RCBs in the Ashanti Region on 8th and 9th March, 2008. The Unit also participated in two (2) evaluations in connection with the MCA for the selection of consultants for the automated clearing house and cheque clearing encoding systApex Newsem for all Banks in the country.
FINANCIAL PERFORMANCE OF RURAL AND COMMUNITY BANKS
YEAR TO YEAR COMPARISON
PERFOMANCE INDICATOR |
DECEMBER 2006 GH¢'m |
DECEMBER 2007 GH¢m |
|
|---|---|---|---|
TOTAL ASSETS |
298.75 |
375.80 |
25.8 |
TOTAL ADVANCES |
115.10 |
167.97 |
45.9 | Apex News
TOTAL INVESTMENTS |
84.63 |
90.75 |
7.2 |
TOTAL DEPOSITS |
226.46 |
285.46 |
26.1 |
PROFIT BEFORE TAX |
8.87 |
12.51 |
41.0 |
PAID- UP CAPITAL |
9.35 |
11.18 |
19.6 |
NETWORTH |
38.53 | Apex News
47.40 |
23.0 |
'CAEL' COMPOSITE RATING AS AT DECEMBER, 2007
CATEGORY |
INTERPRETATION OF THE RATINGS |
|
STRONG |
Obtained average scores between 1.0-1.5 Performance indicators were strong in every aspect. |
|
SATISFACTORY |
Obtained average scores between 1.6-2.5. Good performance indicators but few weaknesses identified. |
|
FAIR |
Obtained average scores between 2.6- 3.5 Performance indicators need to be closely watched as weaknesses may become severe. |
|
MARGINAL |
Obtained average scores between 3.6- 4.5 . Banks need constant supervision as the weaknesses may become difficult to correct in future. |
|
UNSATISFACORY |
Obtained average scores of above 4.5. High degree of failure evident; constant supervision needed. |
|
TOTAL |
MR. ERIC OSEI- BONSU HEADS THE ARB APEX BANK LIMITED
The Board of Directors of the ARB Apex Bank Limited has appointed Mr. Eric Osei-Bonsu as the new Managing Director of the Bank with effect from January 2, 2008. He took over from Mr. Emmanuel Kwasi Kwapong, who retired from the service of the Bank on 31st December, 2007.
Until his appointment, Mr. Osei-Bonsu was the Deputy Managing Director (Risk Management) of the Amalgamated Bank and also the National President of the Association of Rural Banks-Ghana.
Mr. Osei-Bonsu has over thirty (30) years of rich experience in banking. He worked with the Ghana Commercial Bank (London Branch), National Investment Bank and The Trust Bank where he held Senior Management positions.
He also worked with Siddiqui Shamin & Partners (Chartered Accountants) and Irish Life Assurance Company Limited, both in the United Kingdom.
Mr. Eric Osei-Bonsu holds an MBA (Finance) from the University of Ghana, Legon. He is a Chartered Banker (ACIB, London) and also a Fellow (FCIB) of both the Chartered Institute of Bankers (London) and the Chartered Institute of Bankers (Ghana).
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He is married with four (4) children.