Juaben Rural Bank Receives International Award, Announces Major Financial Gains at 39th AGM
Juaben Rural Bank PLC has received international recognition for innovation and product development while recording significant financial gains, as announced at its 39th Annual General Meeting (AGM). The Bank proposed a dividend of GH¢2,614,015.04, equivalent to GH¢0.14 per share, doubling last year’s payout. The dividend represents 29.88% of profit after taxation and offers shareholders a 28% return on investment.
Board Chairman’s Report
Nana Dr. Appiagyei Dankawoso I, Board Chairman, welcomed shareholders, traditional authorities, invited guests, and members of the press. Presenting the Bank’s Annual Report and Financial Statements for the year ended 31st December 2024, he noted a challenging economic environment, with GDP growth at 5.7%, inflation of 23.8%, and a policy rate of 27%.
He highlighted that the Bank’s profit after taxation reached Gh¢8,748,424.00
On governance, he noted that he and First Vice Chairman Mr. Stephen Acheampong would retire after nine years on the Board. Elections will be held to appoint up to four new Directors in line with the Bank of Ghana’s Corporate Governance Directive, which includes gender diversity requirements.
Branch Expansion and Innovation
The Bank has expanded its operations with the opening of its twelfth branch at Atonsu, Kumasi, strategically located to serve customers with both face-to-face and automated banking services. Nana Dr. Dankawoso I also highlighted that the Bank had received multiple awards, including the Financial Inclusion Excellence Awards in Kuala Lumpur, Malaysia, and the Eminent Achievement Awards hosted by UPSA’s Faculty of Accounting and Finance, recognizing its innovative products and commitment to financial inclusion.
Corporate Social Responsibility
During the year, Juaben Rural Bank invested GH¢298,701.00 in community-focused initiatives such as scholarships, farmers’ day celebrations, security projects, health support, and education. Its Green Banking Initiative has planted over 10,000 trees toward a 40,000-tree goal, promoting environmental sustainability.
CEO’s Report
Following the Chairman’s report, CEO Mr Augustine Awere thanked customers and stakeholders for their loyalty. He highlighted that this year’s festive gifts to customers had improved significantly and emphasized that the Bank’s mission extends beyond profit to positively impacting communities.
Mr Awere revealed that Nana Otuo Siriboe II, Omanhene of the Juaben Traditional Area, donated 12 plots of land for a well-equipped market to boost local commerce. He concluded by wishing all stakeholders, customers, and staff a Merry Christmas and a prosperous New Year.
