The Okomfo Anokye Rural Bank Ltd (OARB) was incorporated as a limited liability company and issued with a certificate of incorporation (No.21,793) under the companies code 1963 (Act 179) on January 18,1983. On February 7, 1983 the bank of Ghana issued the License to operate Business of Banking to OARB.
The bank received its certificate to commence Business on July 6, 1983 from the Registrar Department.The Bank’s External auditors are Richard Owusu-Afriyie and Associates. Okomfo Anokye Rural Bank Banks with EcoBank, Consolidated Bank Ghana and ARB Apex Bank Limited.
Eight, located at Ashanti Newtown, Kronum, Suame, Pankrono, Agona, Boamang, Tetrem and Wiamoase.
VISION
Our vision is to be the foremost Rural Bank with (Physical) presence in all the regions of Ghana.
MISSION
To delight and exceed our customers’ expectations through the provision of market driven financial solutions with cutting edge technology and highly motivated staff that maximizes shareholders value in a socially responsible manner in order to remain the preferred Rural Bank in the country.
PRODUCTS AND SERVICES
Savings Products;
- Current Accounts
- Savings Accounts
- Susu Savings Accounts
- Daakye Anidaso Savings
- Mebadaakye Savings
- Fixed Deposit
Loans and Advances;
- Commercial Loans
- Salary Loans
- Overdraft facilities
- Group Loans
- Funeral Loans
- Susu Loans
- Auto Loans
- X-mas Loans
Other Services;
- Shares
- Western Union Money Transfer
- Apex Link
- Unity Link
- Mobile Money Services
DISTRIBUTION CHANNEL
The bank currently has eight (8) vibrant & fully Networked Branches across the Ashanti Regions and has its head office located in Wiamoase in the Sekyere South District of the Ashanti region. The branches can be found at the following locations;
- Wiamoase
- Agona
- Ashtown
- Boamang
- Pankrono
- Kronum
- Suame
- Tetrem
PERFORMANCE ANALYSIS
Items (GH₵) |
2018GH₵ |
2017GH₵ |
%Change |
Deposits |
45,105,211 |
37,392,468 |
20.6 |
Investments (Short term) |
19,793,141 |
13,385,196 |
47.9 |
Total Assets |
54,058,927 |
44,381,222 |
21.8 |
Loans and advances (net) |
19,215,535 |
19,383,953 |
-0.9 |
Share Capital |
1,334,662 |
1,263,100 |
5.7 |
Income |
11,570,740 |
11,073,340 |
4.5 |
Expenditure |
11,194,235 |
10,100,917 |
10.8 |
Profit before Tax |
376,505 |
972,423 |
-61.3 |
Profit after Tax |
213,999 |
729,317 |
-70.7 |
Net worth |
4,200,473 |
4,237,375 |
-0.9 |
AWARDS
Our outstanding performance, OARB has received several awards locally and internationally, including Ghana Club 100 at the Ashanti Financial Services Excellence Awards, held under the auspices of the Manhyia Palace, Kumasi.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
OARB’s contribution towards the socio-economic development of the country through its CSR has been outstanding. Our contributions extend to sectors as agriculture, security, health, education, etc.
To mention but a few, the bank single-handedly made donations to the following institutions in office gadgets and educative materials; GES Agona, Methodist Teachers Welfare, Agona Police Station, Adu Gyamfi Snr High School, Okomfo Anokye Snr High School.
Donations and Special Initiatives towards the Fight against COVID-19 Pandemic
As part of the bank’s CSR in its bit to support the fight against the COVID-19 pandemic, Okomfo Anokye Rural Bank donated PPE to Sekyere south District Assembly, Sekyere South Health Directorate and the communities around the banks catchment area to aid fight COVID19.
PPE donated included boxes of hand sanitizers, nose masks, veronica buckets with washing bowls, tissues, liquid soaps, Detol disinfectants, hand gloves, and other items running into thousands of Ghana Cedis. Mr. Paul Kwabena Oduro, the General Manager presented these items on behalf of the bank.
The bank further educated and encouraged all its customer to observe the COVID-19 preventive health protocols and provided for them the Okomfo Anokye Rural Bank’s branded nose masks to most of its customers at the various branches.
COVID-19 Relief Package to Customers
As part the bank’s efforts to relieve our customers of the difficulties the COVID-19 pandemic has come with, “Relief Packages” was introduced from August 2020 to October 2020
This package came as a reduction of interest rate on our loan;
| Loan Type | 6 Months
Previous rate % |
6 months
COVID-19 Relief Package rate % |
Per annum
Previous rate % |
Per annum
COVID-19 Relief Package rate % |
| Susu loan | 16 | 15 | 32 | 30 |
| Salary loan | – | – | 28 | 26 |
| Commercial loan | – | – | 32 | 30 |
| Overdraft | – | – | 36 | 34 |
