The Builsa Community Bank
Limited, BUCOBANK, was adjudged the best Rural Community Bank in the
Upper East Region for the year 2013 by the Association of Rural Community Banks
in its maiden edition of Rural and Community Banks Excellence Award, held last
year.
As a result of its performance output, the
Efficiency Monitoring Unit of the Association of Rural Banks, ARBs, puts
BUCOBANK ahead of all the 16 Rural and Community Banks, RCBs of Northern
Ghana.
BUCOBANK in 2013 was also rated satisfactory and ranked 16 out of 141
RCBs nationwide.
The bank, despite its success story continues to perform
creditably and has succeeded in making strides in the period under
review.
This came to light at the bank’s 15th Annual General Meeting of
shareholders in Sandema.
The Chairman of the Board of Directors of BUCOBANK,
Pascal Ayaric, who made this known in the bank’s 2013/2014 report, said
despite the challenges in the country, the bank recorded significant
improvements in all the key performance indicators including assets, deposits,
loans and advances, short term investments, pre-tax profit and stated capital.
In view of this, the bank made profit of 795 thousand and 53 Ghana cedis in last
year as against 640, 172 Ghana cedis in 2013, an increase of 24 percent.
Mr.
Ayaric commended the management, shareholders and staff of the bank, for their
impressive performance during the year under review. He said, in its drive to
re-position itself for more business opportunities,
BUCOBANK, is embarking on
rebranding and as a first step. The
Board he hinted is proposing a change of the Banks name from Builsa Community
Bank limited to BUCOBANK-Builsa Community Bank limited.
Mr Ayaric indicated
that the banks logo and motto will also be changed as part of the rebranding.
He encouraged its clients to take advantage of a new project dubbed” Promoting
Micro-insurance Services in Northern Ghana”- “PROMISING”, a GiZ sponsored
programmed, aimed at increasing the penetration of micro-insurance services to
customers, which will soon be rolled out, to improve on their businesses and
lives.
The ARB Apex Bank Manager, Pascal Nkulenu, commended the bank for
exceeding the minimum paid up capital of 300 thousand Ghana cedis for banks.
He,
however hinted that the Bank of Ghana may increase the minimum paid up capital
soon and urged the bank to start sensitising its existing and potential
shareholders to assist the bank make up for any increase that may occur.
Deputy Upper East Regional Minister, Daniel
Syme, said today’s banking is dependent on quality service to customers and
urged the bank to address all relevant issues that will help improve on service
delivery to customers.
The 15th Annual General Meeting brought
together shareholders, representative of the Paramount Chief of the Builsa
Traditional Council, Sandem Nab, Azagsuk Azantilow, Former Member of Council of
State for the Upper East, Adezi Kanga and Former DCE for Builsa North, Norbert
Awulley.