The Manager of the Bolgatanga ARB Apex Bank, George Annor says in the face of low interest rates in the banking industry, the future of rural banks lies in micro-financing which has been found to be very beneficial.  Mr. Annor was addressing shareholders of the Toende rural Bank’s second annual general meeting at Zebilla in the Bawku West District of the Upper East Region. 

He cautioned rural dwellers about the generous services the well-established banks offer, say they a bait and after collecting their monies the established banks invest them in the cities leaving them more impoverished. 

Mr. Annor urged the people to have faith in their rural banks since they hold the key to their development.  He advised management of rural banks to motivate their bank staff not only to retain them but also to enable them to work hard to achieve set targets. 

The Chairman of the Boards of Directors of the Toende Rural Bank, Rev. Dr. Jacob Ayeebo said the bank’s performance last year was impressive.  Rev. Dr. Ayeebo said as a result of its impressive performance, the bank has been rated 19th out of 120 rural banks sin the country by the Monitoring and Evaluation Department of the ARB Apex Bank.  He said the future plans of the bank include establishing agencies at Binaba Sapeliga, Bawzuaga and Bolgatanga. 

The Bawku West District Co-ordinating Director, Abdulai Abubakar advised customers of the bank to redeem their loans promptly to enable the Bank to become viable.