Takoradi: Madam Elizabeth Obeng, Chairperson of the Board of Directors at Ahanta Rural Bank, has announced that the bank has successfully rebounded from the challenges posed by the Domestic Debt Exchange Programme (DDEP). According to her, the bank achieved an exceptional performance in 2024, marking a significant recovery.
According to Ghana News Agency, the bank demonstrated substantial growth in key performance metrics including Deposits, Advances, Profit, and Total Assets. Deposits rose from GHc236,095,344 in 2023 to GHc367,253,780 in 2024, while profit after tax surged from GHc4,443,446 in 2023 to GHc14,024,102 last year. At the 37th Annual General Meeting, Madam Obeng revealed that the Board had recommended a dividend of GHC0.08 per share, totaling GHS3,130,261, which represents 22.32 percent of the profit after tax. The bank is currently awaiting approval from the Bank of Ghana to proceed with the dividend payout.
In addition to financial success, the bank has demonstrated its commitment to social responsibility, spending GHS1,274,072 on social interventions in its local communities. Madam Obeng highlighted that this aligns with the bank's policy of returning a portion of its profit to the community.
The bank's CEO, Mr. Benjamin Afful-Eshun, expressed optimism about the future, aiming to double the current dividend for shareholders in the coming year. He emphasized the bank's plans to expand its digital infrastructure, having received approval for a new short code and planning to introduce multiple digital channels to enhance customer interaction.
Ahanta Rural Bank is also dedicated to compliance with statutory provisions, particularly the Anti-Money Laundering Act. The bank intends to continue training its staff in Anti-Money Laundering Policies and corporate governance to ensure strict adherence to legal requirements. Furthermore, the bank maintains a comprehensive policy on conflict of interest and disclosures, ensuring rigorous compliance with legal standards.
