Juaben Rural Bank PLC Outlines Strong Outlook, Governance Reforms at 39th AGM

Juaben Rural Bank PLC has unveiled a robust growth outlook and detailed governance reforms during its 39th Annual General Meeting (AGM), reaffirming its commitment to delivering shareholder value and promoting inclusive community development. The Bank proposed a dividend of GH¢2,614,015.04, equivalent to GH¢0.14 per share, representing double last year’s payout and offering shareholders a 28% return on investment.

Board Chairman’s Report

Delivering the Chairman’s report, Nana Dr. Appiagyei Dankawoso I welcomed shareholders, traditional authorities, invited guests, and the press. He presented the Bank’s Annual Report and Financial Statements for the year ended 31st December 2024, highlighting a challenging economic environment, with GDP growth at 5.7%, inflation at 23.8%, and a policy rate of 27%.

The Chairman emphasized the Bank’s strong financial performance, reporting a profit after taxation of GH8,748,424.00

On governance, Nana Dr. Dankawoso I announced that he and First Vice Chairman Mr. Stephen Acheampong would retire after nine years of service. Elections will be held to appoint up to four new Directors in accordance with the Bank of Ghana’s Corporate Governance Directive, which mandates diversity, professionalism, and a minimum of one female Director on the Board.

Branch Expansion and Innovation

As part of its strategic growth, the Bank opened its twelfth branch at Atonsu in Kumasi, providing customers with both face-to-face and automated banking services. Nana Dr. Dankawoso I also highlighted the Bank’s international recognition, including the Financial Inclusion Excellence Awards in Kuala Lumpur, Malaysia, and the Eminent Achievement Awards hosted by UPSA’s Faculty of Accounting and Finance, underscoring its innovative products and financial inclusion initiatives.

Corporate Social Responsibility and Green Initiatives

During the year, Juaben Rural Bank invested GH¢298,701.00 in scholarships, farmers’ day celebrations, community development, health, education, and security projects. Its Green Banking Initiative has already planted over 10,000 trees toward a 40,000-tree target, promoting environmental sustainability and community well-being.

CEO’s Remarks

Following the Chairman’s report, CEO .Mr  Augustine Awere thanked customers, stakeholders, and staff for their loyalty. He emphasized the Bank’s commitment to community impact alongside financial growth. Mr  Awere also revealed that Nana Otuo Siriboe II, Omanhene of the Juaben Traditional Area, donated 12 plots of land for the development of a well-equipped market to boost local commerce.

Mr  Awere concluded by wishing all stakeholders, customers, and staff a Merry Christmas and a prosperous New Year.