Juaben Rural Bank pays dividend to shareholders
The Juaben Rural Bank PLC has announced the payment of GH¢1,125,053 as a dividend for the 2023 financial year, with each share amounting to GH¢0.07.
According to the Board Chairman of the Bank, Dr Appiagyei Dankawoso I, the amount represented 27.14 per cent of the profit after tax of GH¢4,145,004 for the year under review.
Dr Dankawoso I announced this at 38th annual general meeting of the bank held at Juaben in the Eastern Region yesterday.
The Board Chairman underlined that, the bank’s deposit grew from GH¢194,094,199.00 in 2022 to GH¢240,785,384 in 2023, representing a 24.06per cent increase.
He stated that loans and advances increased to GH¢71,300,218 in 2023 as against GH¢61,415,768 in 2022, representing 16.09 per cent.
On Investment, Dr Dankawoso I stated that it also saw a growth of GH¢163,656,774 in 2023 as against GH¢109,303,057, representing 49.73 per cent.
He attributed the gains made to the compliance to prudent strategic measures put in place by the board and management of the bank, and pledged to continue working very hard towards the attainment of better outcomes in the years ahead.
The Chief Executive Officer (CEO) of the bank, Mr Noble Augustine Awere Damoah, said that the ever-changing market dynamics of the country required strategic initiatives to achieve strong and sustainable business growth.
He stated that the bank’s performance had been impressive and was hopeful that as they looked into the future, the bank would continue to strategise to increase market share.
BY NORMAN COOPER
