Amanano Rural Bank in the Ashanti Region is prioritizing support for the agricultural sector in implementing its 2025 business strategic plans.
The Bank says it is dedicated to empowering women in the agriculture sector, especially, in promoting their welfare and contributing positively to the community.
Acting Chief Executive Officer Daniel Bediako says the bank is marking a significant milestone toward becoming the fastest-growing bank in the Atwima Mponua District.
He was addressing the 36th Annual General Meeting of the bank at Nyinahin.
This year’s meeting served as a vital platform for stakeholders to engage in meaningful discussions and foster collaboration aimed at enhancing community development.
With seven branches across the Ashanti Region, Amanano Rural Bank is committed to contributing positively to the local economy and the well-being of its residents.
Mr. Bediako expressed optimism about the future, highlighting how the bank has transformed challenges into opportunities since he assumed leadership.
“We will continue to work assiduously towards increasing the Bank’s profitability to increase shareholders’ worth (return on equity). Our aim is to sustain the ROE of more than inflation,” he said.
The bank posted 4.4 million cedis Profit before Tax in 2023 as against 842,127 cedis in 2022. The remarkable growth represents a 423.7% leap in profits for the bank after incurring losses in the previous years.
The bank deposit for the year grew from GH¢80,352,006 to GH¢99,490,218 at the close of the year, representing a growth of 19.23 per cent.
Mr. Bediako also emphasized the bank’s readiness to make prudent investments that will benefit the local community and support sustainable growth.
The bank is also committed to putting in the necessary effort to mobilize shares effectively, aiming to enhance its capitalization in conformity with the Bank of Ghana’s requirements.
Timely dividend payments to shareholders and customers have been a challenge for the bank.
However, Mr. Bediako noted the importance of seeking approval from the Bank of Ghana before processing such payments to shareholders, indicating a commitment to regulatory compliance and responsible financial management.
The Amanano Rural Bank has, meanwhile, introduced digital banking features aimed at enhancing the experience of shareholders and customers.
“We are developing a mobile app, implementing advanced ATMs, and offering convenient shortcodes. These initiatives will ensure a smooth and flexible banking experience for all users,” said the Acting CEO.
