Juaben Rural Bank Achieves Over GH¢7 Million Stated Capital, Expands to 12 Branches
Juaben Rural Bank PLC has recorded remarkable growth in both its financial performance and operational footprint, achieving a stated capital of over GH¢7 million and expanding its services with the opening of its twelfth branch at Atonsu in Kumasi. The Bank’s progress was highlighted at its 39th Annual General Meeting (AGM), where a dividend of GH¢2,614,015.04, equivalent to GH¢0.14 per share, was proposed – double the amount paid last year. This dividend represents 29.88% of profit after taxation and offers a 28% return on investment to shareholders.
Board Chairman’s Report
Delivering the Board Chairman’s report, Nana Dr. Appiagyei Dankawoso I welcomed shareholders, traditional authorities, invited guests, and members of the press. He presented the Bank’s Annual Report and Financial Statements for the year ended 31st December 2024, noting that the operating environment was challenging yet rewarding. Key economic indicators during the period included a GDP growth of 5.7%, inflation of 23.8%, and a policy rate of 27%.
Nana Dr. Dankawoso I highlighted that the Bank’s profit after taxation had reached GH¢8,748,424.00
On governance, the Chairman noted that he and First Vice Chairman Mr. Stephen Acheampong would retire after serving over nine years. Elections will be held to appoint up to four new Directors, in compliance with the Bank of Ghana’s Corporate Governance Directive, which also requires gender diversity on the Board.
Branch Expansion and Innovation
As part of its growth strategy, Juaben Rural Bank opened its twelfth branch at Atonsu, strategically located to offer both face-to-face and automated services to customers. The Bank has also received local and international recognition for its innovative approach, including the Financial Inclusion Excellence Awards in Kuala Lumpur, Malaysia, and the Eminent Achievement Awards hosted by UPSA’s Faculty of Accounting and Finance.
Corporate Social Responsibility
During the year, the Bank invested GH¢298,701.00 in scholarships, farmers’ day celebrations, security initiatives, community development, health support, and education. Its Green Banking Initiative has planted over 10,000 trees in the first year of a 40,000-tree commitment, promoting environmental sustainability.
CEO’s Report
Following the Chairman’s address, CEO Mr Augustine Awere thanked customers and stakeholders for their loyalty. He noted that this year’s festive gifts to customers had improved significantly and emphasized that the Bank’s focus extends beyond profit-making, with a commitment to positively impact communities.
Mr Awere revealed that Nana Otuo Siriboe II, the Omanhene of the Juaben Traditional Area, donated 12 plots of land for the development of a well-equipped market, which will support local commerce. He concluded by wishing all stakeholders, customers, and staff a Merry Christmas and a prosperous New Year.
