Atwima Mponua Rural Bank records huge growth in deposits
The Atwima Mponua Rural Bank PLC has reported a significant milestone in its operations, recording a remarkable growth in deposit mobilization. As of September 2024, the bank achieved total deposits of GH₵226.3 million, representing a substantial 30.37% increase from the GH₵155.8 million reported in December 2023.
This impressive growth reflects the success of the strategic measures implemented by the bank’s Board of Directors (BOD) to strengthen oversight, improve operational efficiency, and deepen customer trust.
A Celebration of Four Decades of Impact
The announcement was made during the bank’s 40th-anniversary celebration at Toase in the Ashanti Region. The event, themed “Building on a Legacy and Forging a Path to Future Growth,” brought together stakeholders, customers, and staff to reflect on the bank’s achievements and chart a course for its future.
In her address, Madam Constance Phyllis Puttick, Chairperson of the Board, commended the resilience and adaptability of the bank amidst Ghana’s challenging economic conditions in 2022 and 2023. She highlighted the bank’s sustained commitment to supporting communities and businesses despite a difficult macroeconomic environment, including high inflation, a depreciating currency, and the impacts of the Domestic Debt Exchange Programme.
“The bank has stood firm through these challenges, and our ability to adapt and innovate has been critical to maintaining our leadership position in the rural banking sector,” Madam Puttick said.
Supporting Economic Growth through MSMEs
Atwima Mponua Rural Bank continues to play a pivotal role in empowering micro, small, and medium-scale enterprises (MSMEs), which form the backbone of Ghana’s economy.
“We are committed to providing accessible and innovative financial solutions that enable small businesses to grow, create jobs, and contribute meaningfully to the local and national economy,” Madam Puttick added.
Advancing Digital Transformation and Green Banking
In its bid to remain competitive and enhance customer satisfaction, the bank is making significant strides in its digital transformation agenda. The introduction of an online banking platform is underway, which will complement its existing digital services.
The bank is also adopting green banking practices to promote environmental sustainability while ensuring transparency and accountability in its operations. These initiatives align with global best practices and demonstrate the bank’s commitment to long-term growth.
Strengthening Capital Base
Madam Puttick appealed to stakeholders to continue purchasing additional shares to strengthen the bank’s capital base, which stood at GH₵1.646 million at the end of 2023. She noted that a robust capital foundation is critical for the bank’s ability to expand its operations, meet regulatory requirements, and remain competitive in the evolving financial landscape.
Navigating Challenges and Embracing Opportunities
Madam Puttick acknowledged the challenges posed by the global and domestic economic environment but expressed confidence in the bank’s ability to navigate them. She pledged the Board’s commitment to implementing strategies that ensure sustained growth and transformation in the coming years.
“Through innovation, dedication, and collaboration, we will continue to forge a path to success and deliver value to all our stakeholders,” she affirmed.
A Legacy of Excellence
The 40th-anniversary celebration was a moment of pride and reflection for the bank, which was established to bring financial services closer to rural communities. Over the years, it has evolved into a leading rural bank, known for its customer-centric approach, innovative products, and strong community engagement.
The event featured several activities, including awards to recognize outstanding employees, customers, and partners who have contributed to the bank’s success over the years. Atwima Mponua Rural Bank PLC remains a trusted financial partner, committed to building on its legacy and embracing the future with confidence and resilience.
