Afram Community Bank’s profit dip 24th Dec 2020 | Source: GNA
The Afram Community Bank (ACB) Limited recorded a profit of GH¢330, 348.00 in 2019 as against GH¢664,606.00 in 2018, showing a decrease of 54.35 per cent.
The bank s income also reduced from GH¢2,577.207 in 2018 to GH¢2,451,315, representing a decrease of 4.88 per cent in the financial year under review.
This was attributed to unstable economic challenges during the period under review.
While the bank’s liability on customers’ deposits moved down from GH¢15,800,820 in 2018 to GH¢15,277,554 in 2019, representing 3.31 per cent decrease, its loans and advances also witnessed a decrease from GH¢14,875,797 in 2018 to GH¢14,258,366 in 2019, representing a decrease of 4.14 per cent.