Juaben Rural Bank Posts Impressive 2024 Performance, Declares One of Ghana’s Most Competitive Dividends
Juaben Rural Bank PLC has reported remarkable financial performance for the year 2024 and proposed one of the country’s most competitive dividends, underscoring its commitment to shareholders and community development. At the Bank’s 39th Annual General Meeting (AGM), a dividend of GH¢2,614,015.04, equivalent to GH¢0.14 per share, was proposed – double the amount paid in 2023. The dividend represents 29.88% of profit after taxation, providing shareholders with a 28% return on investment.
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 a challenging operating environment with GDP growth at 5.7%, inflation at 23.8%, and a policy rate of 27%.
Highlighting operational success, Nana Dr. Dankawoso I reported a profit after taxation of GH 8,748,424.00
On governance, the Chairman noted that he and First Vice Chairman Mr. Stephen Acheampong would retire after over nine years of service. Elections will be held to appoint up to four new Directors in compliance with the Bank of Ghana’s Corporate Governance Directive, which includes requirements for professionalism, experience, and at least one female Director to ensure gender diversity.
Branch Expansion and Innovation
In line with its growth strategy, Juaben Rural Bank inaugurated its twelfth branch at Atonsu in Kumasi, providing enhanced face-to-face and automated services to customers. The Bank has also earned local and 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, highlighting innovation in product development and financial inclusion.
Corporate Social Responsibility and Green Initiatives
The Bank invested GH¢298,701.00 in community development projects covering education, scholarships, farmers’ day celebrations, health support, and security initiatives. Its Green Banking Initiative has already planted over 10,000 trees toward a 40,000-tree target, supporting environmental sustainability and national development.
CEO’s Remarks
Following the Chairman’s report, CEO Mr . Augustine Awere expressed gratitude to customers, stakeholders, and staff for their loyalty and support. He noted that this year’s festive gifts to customers were significantly improved, reflecting the Bank’s focus on positive community impact beyond profit.
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 business and economic activity. He concluded by wishing all stakeholders, customers, and staff a Merry Christmas and a prosperous New Year.
