MICROCAPITAL BRIEF: Odotobri Rural Bank of Ghana Opens 7th Branch, to Introduce ATMs, Mobile Banking Services

Odotobri Rural Bank Limited, a publicly traded bank in Ghana, reportedly has opened its seventh branch in the Ghanaian city of Kumasi. The bank also has plans to open another branch in the same city. At the inauguration, Odotobri’s Board Chairman, Mr Johnny Owusu-Boadi, reportedly encouraged shareholders in the bank to increase their shares in order to strengthen its capital adequacy ratio. Odotobri focuses on providing microfinance services to working groups of women and individual entrepreneurs.

Mr Owusu-Boadi also reportedly stated that the bank plans to introduce automated teller machines (ATMs) and mobile banking services in an effort to increase its operations. The schedule for the new services was not given.

Financial information for Odotobri Rural Bank Limited is unavailable.

By Charlotte Newman, Research Associate

Ghana News Agency: “Odotobri Rural Bank to Introduce Mobile Banking Services,” http://www.ghananewsagency.org/details/Economics/Odotobri-Rural-Bank-to-introduce-mobile-banking-services/?ci=3&ai=48368#.UFQB1Y2PX8m

MicroCapital.org story, September 13, 2012, “MICROCAPITAL BRIEF: ProCredit Ghana Sounds Alarm on Multiple Lending, Calls for Tighter Entry Requirements for Microfinance Institutions (MFIs),” https://www.microcapital.org/microcapital-brief-procredit-ghana-sounds-alarm-on-multiple-lending-calls-for-tighter-entry-requirements-for-microfinance-institutions-mfis/

MicroCapital.org story, July 2, 2012, “MICROCAPITAL BRIEF: 300 Susu Collectors in Ghana Submit to Regulated Microfinance Regime,” https://www.microcapital.org/microcapital-brief-300-susu-collectors-in-ghana-submit-to-regulated-microfinance-regime/

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