Agona Nkwanta, May 19, GNA – Madam Elizabeth Obeng, Chairperson, Board of Directors, Ahanta Rural Bank, says the bank has rebounded from the adverse effect of the Domestic Debt Exchange Programme (DDEP). 

She said to the bank recorded an outstanding performance in 2024. 

 “Year on year performance of the bank indicates significant growth in the key performance areas such as Deposits, Advances, Profit and Total Assets”. 

She disclosed that the bank’s deposit increased from GHc236,095,344 in 2023 to GHc367,253,780 in 2024 while profit after tax also increased from GHc4,443,446 in 2023 to GHc14,024,102 last year. 

Madam Obeng at the 37^th AGM indicated that the Board has recommended dividend of GHC0.08 per share, amounting to GH¢3,130,261 which is the equivalent of 22.32 per cent of the profit after tax.  

“In compliance with regulatory directives, we have written to the Bank of Ghana to seek approval for the payment”.  

“We hope that we shall receive the required approval for payment to be made in the shortest possible time”, she told the shareholders. 

She said in line with the policy to give a portion of the bank’s profit back to the communities, it had supported some social interventions within its catchment areas.  

“During the period under review an amount of GH¢1,274,072 was spent to support critical areas under the bank’s Corporate Social Responsibility”, she added. 

 Mr. Benjamin Afful-Eshun, the Chief Executive Officer of the Bank, said the bank would work well to help double the current dividend for shareholders next year. adding, “Because as CEO, I must satisfy my shareholders and Directors”. 

He stated, “We want to expand our digital infrastructure. We have had an approval for our new short code.” 

“We are going to introduce lots of digital channels to help customers do business with the bank wherever they find themselves”, he pointed out. 

The Bank was also committed to ensuring compliance with the statutory provisions in the Anti Money Laundering Act and the applicable regulations and guidelines. 

To this end, the bank, which had branches in Western and some parts of Central Region had decided to continuously train its staff on the Bank’s Anti-Money Laundering Policies to ensure strict compliance in line with corporate governance.  

The Bank also has a comprehensive policy on conflict of interest and disclosures and would ensure strict compliance with the legal provisions. 

GNA 

Edited by MSM/CA