The Atwima Kwanwoma Rural Bank has posted a 40 percent profit after tax for the 2020 financial year, despite the impact of the covid-19 on businesses. The Bank grew its profit from 3,031, 095 cedis in 2019 to 3,841,061 cedis at the end of the 2020. This represents an increase rate of 26.72 percent. CEO, Dr Sarfo Kantanka says the bank’s strategic plans show a more impressive performance by the end of 2021.
Atwima Kwanwoma Rural Bank Limited at Pakyi No 2 in the Ashanti Region has inaugurated its Bantama branch in the heart of the Race Course Market, as part of its branch expansion drive for the foreseeable operational year. The Bantama branch-opening now brings to ten the total number of branches currently being operated by the bank, spread across various communities and towns in the region.
Atwima Kwanwoma Rural Bank Ltd in partnership with StarLife Assurance launched Bancassurance and unveiled four (4) products for the benefit of its customers and the general public. They are HomeCall Plan, the Child Education, the WealthMaster Plans and the Ultimate Protection Plan. Atwima Kwanwoma Rural Bank Ltd and StarLife have been in collaboration since 2020, with the aim of promoting solid life for customers and a strong financial backbone through savings and insurance products.
Atwima Kwanwoma Rural Bank (AKRB), established on 6th September 1983 and located at Pakyi No. 2 off the Kumasi Obuasi road has become a household name in the Rural Banking Industry because of its outstanding performance. Currently, with ten branches and counting, it is described as the best performing rural bank in Ghana. This can be attributed to a host of factors such as operational efficiency, prudent management, selfless and competent staff and good corporate governance among others.
The Ghana Police Service plays a significant role in ensuring that we go about our duties safely without looking over our shoulders. Therefore, we all need to support them in various ways for effective policing duties. To this end, last Saturday Atwima Kwanwoma Rural Bank Ltd donated 2 Office Cabinet, 1 Laptop, and 2 Sets of Office Desk to Ghana Police Service at Pakyi No. 2. We plead with all Ghanaians to volunteer timely information to aid the work of the Ghana Police Service to enable them to fight crime effectively.
Atwima Kwanwoma Rural Bank Limited at Pakyi No2 in the Ashanti Region has designed some credit relief packages for clients to cushion them in coping with effects of the COVID-19 pandemic. The offers include tenor extensions and deferment on eligible loans for clients in vulnerable sectors highly impacted by the pandemic; particularly Susu loans, SMEs (Loans and Overdrafts) and Clearance loans.
The Atwima Kwanwoma Rural Bank Limited has officially opened a new branch at Kronum a suburb of the Kumasi city in the Ashanti Region. The branch aims at providing banking services to the people of communities like Kodie, Dwenease, Afrancho, Buoho and other surrounding communities.
Speaking at the ceremony, the Chairman of the Board of Directors (BOD) Mr Patrick Owusu in his address stated that the newly opened branch started operating about 6 months ago and it has been able open accounts for 2,712 customers amid its official opening.
Atwima Kwanwoma Rural Bank Limited was established in 1983 as the 68th Rural Bank to be licensed by the Bank of Ghana to offer banking services to the Rural and Sub-Urban Communities at Pakyi No. 2 in the Amansie-West District of the Ashanti Region.
The bank which began humbly from rented premises had focused, among others, on the provision of financial intermediations, inculcation of saving habit among the rural folks and the provision of community infrastructure.
Shareholders of Atwima Kwanwoma Rural Bank will earn dividend of ten pesewas per share, one pesewa more than last year, despite a 14 per cent slump in profits. The bank’s profit after tax went down from 6, 942, 000 in 2016 to 5, 946 000 in 2017 on the back of 11 profit before tax drop over the same period. But despite the slump, the bank is dispensing a whopping 1 million Ghana cedis as dividends to its shareholders.
Officials blame the drop in profit on an increase in Corporate Tax from 8 to 25 percent and dwindling investment rates. Board Chairman, Patrick Owusu tells Nhyira FM the bank has had to pay dearly for the increased taxes.
