BUCOBANK adjudged the best RCB in the UER

28-06-15         

           

 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 15^th 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.