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Mr Eric Osei-Bonsu, Managing Director of ARB Apex Bank, has advised Rural and Community Banks (RCBs) to form strategic alliances and mergers with each other to enable them stay in competitive business. He said such initiatives would enhance their capital acquisition and deposits to support worthy ventures to generate capital to provide financial services for their customers. Mr Osei-Bonsu gave the advice in an address read on his behalf at the 14th Annual General meeting of Dumpong Rural Bank, at Asakraka in the Kwahu South District. He said the banking industry was under going rapid technological transformation in the form of Electronic Banking, such as E/Zwich, Electronic Financial Analyses and Surveillance System (EFASS) and cheques code/line clearing. Mr Osei-Bonsu urged RCBs to strengthen their internal control and risk management to enhance their operations. He advised management of the bank to establish effective structures to identify and mitigate incidence of risks, which could adversely affect the success of the bank. The Chairman of the Board of Directors of the bank, Mr Anthony Osafo Antwi said the financial institution was able to mobilize a deposit of GHC 1,349,154 last year as against GHC 1,059,000 in 2007, representing an increase of 27.43 percent. He said the bank recorded a net profit of GHC 12,136 as against GHC 10,094 in the year under review, an increase of 20.23. Mr Osafo-Antwi said that the bank's total asset rose from GHC 1,761,076 last year as against GHC 1,419, in the year under review. The bank granted loans and overdraft totaling GHC 708,499 to customers in the cottage industry, transport, agriculture and commerce last year as against GHC 613,029 in 2007. He appealed to shareholders to increase their share capital to enable the bank to meet the Bank of Ghana's minimum capital requirement of GHC 150,000.