Strong Financial Performance and Strategic Vision of Atwima Mponua Rural Bank PLC
Atwima Mponua Rural Bank PLC, located in the Atwima Nwabiagya Municipality within the Ashanti Region, has demonstrated impressive financial performance across all key indicators for the year 2024. This success is a reflection of the bank’s strategic focus on growth, innovation, and corporate governance.
Deposit Mobilization Growth
One of the most notable achievements was the substantial increase in deposit mobilization. By the end of 2024, the bank recorded approximately GH₵ 255.6 million in deposits, up from GH₵ 156.8 million in December 2023. This represents a growth of 62.97%, showcasing the bank’s ability to attract and retain customer funds.
Despite this progress, the Board Chairperson, Mrs. Constance Phyllis Puttick, emphasized the need for continued efforts to achieve even greater results in the coming years. She encouraged the management and staff to maintain their high standards of performance while exploring new opportunities for growth.
Operational Challenges and Recovery Measures
The bank faced several challenges during the year, including the slow recovery of the Domestic Debt Exchange Programme (DDEP) and a decline in investment income. These factors contributed to the need for the bank to address long-standing delinquencies in its loan portfolio, which had become toxic assets with no earning potential.
In addition, a significant portion of the bank’s investments remained locked in state-owned investment houses, with little immediate prospect of recovery. To stabilize its financial position, the bank implemented measures such as freezing capital expenditure and withholding dividends to shareholders. These steps were necessary but difficult, aimed at ensuring long-term recovery and sustainability.
Financial Highlights
The bank’s financial performance for 2024 was remarkable, as shown by the following figures:
| Category | 2024 (GH₵ M) | 2023 (GH₵ M) | Percentage Change |
|—————————|——————|——————|————————|
| Total Deposit | 255.549 | 156.808 | 62.97% |
| Loans and Advances | 52.433 | 37.886 | 38.66% |
| Investments (short-Term) | 132.200 | 47.369 | 179.08% |
| Total Assets | 268.783 | 157.177 | 71.00% |
| Stated Capital | 1.886 | 1.646 | 14.58% |
| Retained Earnings | 1.566 | (9.154) | Over 100% |
| Shareholders Fund | 7.119 | (4.417) | Over 100% |
| Net Profit before Tax | 14.651 | (4.995) | Over 100% |
| Net Profit after Tax | 11.296 | (4.796) | Over 100% |
These figures highlight the bank’s strong financial health and resilience despite the challenging economic environment.
Profitability and Revenue Growth
By the end of 2024, the bank reported total income of GH₵ 43.0 million, compared to GH₵ 24.1 million in 2023. Expenditure stood at GH₵ 28.2 million, slightly lower than the GH₵ 29.1 million recorded in 2023. This resulted in a profit before tax of GH₵ 14.8 million, a significant improvement from the loss of GH₵ 5.0 million in 2023. The profit after tax reached GH₵ 11.6 million, up from a loss of GH₵ 4.8 million in the previous year.
Corporate Social Responsibility Initiatives
In 2024, the bank continued its commitment to shared value by investing GH₵ 61,350 in Corporate Social Responsibility (CSR) initiatives. These efforts focused on agriculture, social inclusion, and education, benefiting thousands and promoting sustainable development.
New Strategic Focus
Under the leadership of CEO Edward Kwarteng, the bank launched a new strategic cycle spanning 2026–2030. The theme of this initiative is “Consolidating Operational Performance Growth through fostering Innovation and System Transformation, Resilient, Corporate Governance, Customer-focused, and Human Resources Development: forging ahead for Sustainable Growth.”
This strategy emphasizes human resource development, digital transformation, and branch modernization to ensure long-term business sustainability. It also aims to build on the successes of the previous strategy cycle and reposition the bank as a leading player in the rural banking sector.
Regulatory Recognition
The Ashanti Regional Manager of ARB Apex Bank, Leonard N. Maasang, commended the bank for its exceptional performance and community engagement. He highlighted the 38.66% increase in loans and advances as a testament to the bank’s customer-centric approach and dedication to rural financial intermediation.
Mr. Maasang also praised the bank’s consistent CSR efforts and urged other Rural and Community Banks (RCBs) to follow suit. He emphasized that such initiatives not only enhance public confidence but also contribute to long-term sustainable development.