Anum Rural Bank PLC has posted a resilient financial performance for the 2024 fiscal year, recording significant growth across key indicators despite economic headwinds.
This was disclosed at the Bank’s 42nd Annual General Meeting (AGM), held on Saturday, October 11, 2025, at the Ebenezer Presbyterian Church, Anum.
Delivering the Board’s report, Mr. Richard Sarbah Eshun, Chairman of the Board of Directors, announced that the Bank achieved a profit before tax of GH¢3.64 million, compared to GH¢3.98 million in 2023 — representing an 8.56% decline attributed to inflationary pressures, high utility tariffs, and increased corporate taxes. However, other performance indicators showed robust growth.
Strong Financial Performance Amid Economic Challenges
Total operating income rose by 21.9% to GH¢24.57 million from GH¢20.16 million in 2023, while interest income increased by 23.5% to GH¢22.24 million. Net interest income also climbed to GH¢20.31 million, marking a 25.3% increase over the previous year.
The Bank’s total assets grew by 28.2%, reaching GH¢106.39 million as of December 2024, up from GH¢82.99 million in 2023.
Total deposits recorded a notable 30.3% jump to GH¢80.32 million, while shareholders’ funds appreciated by 13% to GH¢14.58 million.
Mr. Eshun highlighted that short-term investments rose sharply by 55.4%, from GH¢29.9 million to GH¢46.47 million, underscoring strong liquidity management. The Bank’s capital adequacy ratio stood at 12.93%, above the Bank of Ghana’s prudential minimum of 10%, affirming the institution’s stability and sound capitalization.
Return to Dividend Payments and Community Support
For the 2024 financial year, the Board recommended a dividend of GH¢0.0095 per share, amounting to GH¢697,394 — a move approved by the Bank of Ghana. This marks the Bank’s return to dividend payments after a pause in 2023, signaling renewed stability and profitability.
The Chairman reaffirmed Anum Rural Bank’s commitment to community development, noting that GH¢72,251 was spent on scholarships, charitable initiatives, and donations as part of its Corporate Social Responsibility (CSR). Eleven long-serving staff were also honored with cash awards and home appliances for between 10 and 25 years of service.
Branch Expansion and Governance Developments
The Bank continued its expansion drive with the commissioning of a new agency at Dodowa in February 2025, which has already shown promising deposit mobilization. Additionally, the Atimpoku Agency was relocated to its newly completed office building in September 2025 after receiving regulatory approval.
Anum Rural Bank now operates nine agencies across three regions — Eastern, Volta, and Greater Accra — with additional mobilization centers in Boso, Asikuma, and Dzake.
Mr. Eshun also announced the approval of two new directors, Mr. David Sebastian Damoah, Esq., and Ms. Grace Sabea Sandor, by the Bank of Ghana, and noted the retirement of Mr. Christian Ani-Frimpong after serving three terms.
ARB Apex Bank Commends Performance
Representing Mr. Alex Awuah, Managing Director of ARB Apex Bank, Mr. Kofi Owusu commended Anum Rural Bank for its resilience and growth despite challenging macroeconomic conditions. He noted that the Bank’s 55% increase in investments and 30% deposit growth reflected strong management and customer confidence.
He also urged the Bank to enhance digital transformation and cybersecurity, ensure prompt loan repayments, and continue building capital reserves to maintain stability in an evolving banking environment.
“The story of 2024 is one of growth in a tough climate, prudent risk management, and a return to rewarding shareholders,” he said. “Continue to invest in communities because beyond the profit is the humanity we care for.”
Focus on Human Capital and Financial Inclusion
Delivering remarks on behalf of the Chapter President of the Rural Banks Association, Dr. Patrick Tandoh-Offin, the Vice Chairman, Mr. Theophilus Oware, emphasized the need for continuous human resource development and alignment with regulatory expectations.
He urged rural banks, including Anum Rural Bank, to develop tailored financial literacy and microfinance programs to empower market women, youth, and smallholder farmers, noting that such initiatives are key to deepening financial inclusion and sustaining community trust.
Looking Ahead
The Bank outlined its 2025 priorities to include aggressive deposit mobilization, enhanced customer service, digital banking expansion, and strict adherence to corporate governance directives.
Mr. Eshun concluded by expressing gratitude to shareholders, management, staff, and the Presbyterian Church of Ghana for their continued support.
“Our selfless and dedicated staff have worked hard to keep the Bank growing within the competitive banking industry,” he said. “Long live Anum Rural Bank PLC, long live Ghana.”
