Amansie Rural Bank records GH¢36m pre-tax profit in 2024, marking over 200% growth.

Amansie Rural Bank PLC in the Ashanti Region has recorded an impressive financial results for last year, with a profit before tax of GH¢36.02 million. This represents 207.98 percent growth over GH¢11.69 million recorded in 2023. This strong performance was due to improved incomes generated from credit and how the company manages its investments as well as reducing operational cost Whcih led to growth in all indicators.

During the 40th annual general meeting (AGM) of the bank in Antoakrom in the Amansie West District last Friday, Mr Ben Kwakye Adeefe, the chairman of the board of directors of Amansie Rural Bank disclosed this information. Mr Ben Kwakye Adeefe added that the total assets of the bank increased by 98.92 percent rising from GH¢382.94 million to GH¢761.73 million in 2023.

However, the board chairman advised the customers to repay their loans on time so that the bank will be able to give out more loans to qualified applicants. Mr Ben Kwakye Adeefe stated the bank had received earlier approval from the Bank of Ghana (BoG) to pay dividends to the shareholders for the past two financial years in grow.

He said that the share capital of the bank increased by 48.81 percent all the way from GH¢4.49 million to GH¢6.55 million in 2023, but lending services went up by 11.27 percent representing GH¢92.18 million to GH¢102.57 million in 2023.

Mr Kwakye stated that “ I wish to inform you that our bank is part of the approved banks by the Bank of Ghana (BoG) to pay dividends to the shareholders”

He again said “ It is partly because of your sacrifices, patience and help provided by shareholders during the past years to make it possible for the board and management to use the profit kept in the business from those years to develop the future gains of the bank.”

Mr Ben Kwakye Adeefe said on the cooperate social responsibility that the bank spent almost GH¢1.05 million in 2024 which shows a 151 percent more than what it did in the previous years on many projects, including the completion of the Amansie Community Centre in Antoakrom.

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