Sekyere Rural Bank Limited was set up and commissioned in 1983 at Jamasi in the Ashanti Region of Ghana. The role of the Bank is to play an intermediary role between surplus fund holders and those in need of funds for their economic activities in the communities in which the bank operates.
Sekyere Rural Bank Limited is dedicated primarily to the mobilization of resources from its operational area for on lending to individuals savers, small and medium scale enterprises
The bank is registered under Ghana’s Companies Code 1963, Act 179 as amended Companies Act 2019, (Act 992) and operates under the Banking Law, 2004 Act 73 as amended Banks and Specialized Deposit-Taking Institutions Act 2016, Act 930 to operate the business of banking. The nature of the businesses that the Bank is authorized to carry out are:
- The provision of Current and Deposit Accounts for customers
- To act as agent for other financial institutions in the country
- To Accept and Discount Bills of Exchange
- To act as Executors or trustees of wills for people in the community
- To provide finance for farmers, small and medium scale enterprises
- Safe keeping ****
VISION
To be a rural bank of choice
MISSION
To be a unique bank, propelled by a motivated workforce, customized products, better banking services, to give value to our shareholders
CORE VALUES
- Higher Standards
- Innovation
- Due Diligence
- Partnership with stakeholders
OUR TARGET MARKET
Our primary focus is to provide tailor made solutions and wide range of financial services to the unbanked and under banked within the rural and peri-urban communities by mobilizing surplus funds from the communities and channeling such funds into the productive sectors of the economy.
The bank supports retail customers, small and medium enterprises, micro unit institutions, and farmers to ensure accelerated economic growth and development in the communities in which we operate with a prime aim of alleviating poverty in the short term and eliminating same in the long run.
PERFORMANCE ANALYSIS
Sekyere Rural Bank Limited has been recording an impressive year-on-year performance in all performance indicators as depicted below:
| PERFORMANCE INDICATORS |
SEPT. 2019 | SEPT. 2020 | INCREASE | % INCREASE |
| DEPOSIT | 81,778,828.02 | 106,917,419.18 | 25,138,591.16 | 30.73% |
| INVESTMENT | 43,208,140.84 | 59,767,075.70 | 16,558,934.86 | 38.32% |
| LOANS/ADVANCES | 28,931,338.73 | 31,398,362.31 | 2,467,023.58 | 8.52% |
| SHARE CAPITAL | 2,150,157.99 | 2,199,807.99 | 49,650.00 | 2.30% |
| TOTAL ASSETS | 95,713,695.39 | 126,681,701.43 | 30,968,006.04 | 32.35% |
| PROFIT BEFORE TAX | 1,190,415.96 | 1,659,836.03 | 469,420.07 | 39.43% |
AWARDS
As a result of our outstanding performance, Sekyere Rural Bank has won so many awards, locally and internationally, including six Gold Awards at the Ashanti Financial Services Excellence Awards, held under the auspices of the Manhyia Palace, Kumasi.
The bank won an International Gold Award on Quality, Innovation and Excellence during the 2012 BID Century International Quality ERA Convention in Geneva, Switzerland.
Another award was also won in Best Practices Award in Excellent Performance, instituted by the Chartered Institute of Financial and Investments Analysts – Ghana.
The bank was awarded Platinum (International Arch of Europe) for Quality, Leadership, Technology and Innovation in Frankfurt, Germany.
CORPORATE SOCIAL RESPONSIBILITY
The contribution of the bank towards socio-economic development of the country, through its Corporate Social Responsibility (CSR) has been enormous. Our CSR contributions cut across several sectors, including health, education, security, agriculture, etc.
To mention a few, the bank single handedly built a big Police Post for the Ghana Police Service at a strategic location in-between Jamasi and Asante Mampong scalp, where armed robbers attack was rampantly experienced by several commuters. Since this onerous intervention by Sekyere Rural bank, cases of armed robbery have now become a thing of the past in the area.
The bank prides itself as an institution that applied its initiative to build and fully furnish a 50-seater ICT Centre for the Interbeton JHS in Agona Ashanti, to uplift ICT education at the school. It has annually supported the National Farmers Day Celebration by providing items and equipments to Municipal and District Assemblies with its catchment areas to be awarded deserving farmers. The bank has also donated several quantities of branded exercise books in support of the Otunfour Educational Fund, other schools, and also sponsored educational quizzes, among others.
Donations and Special Initiatives towards the Fight against COVID-19 Pandemic
As part of the bank’s CSR in support of the fight against COVID-19, pandemic the bank donated PPE to three health institutions. The beneficiary Hospitals were Jamasi Health Center, Agona Asamang SDA Hospital and Pope John Paul II Medical Center at Jamasi in the Sekyere South District of the Ashanti Region.
PPE donated included Veronica Buckets with stand and washing bowls, boxes of hand sanitizers, liquid soaps, hand gloves, nose mask, tissues, soaps, and other items running into thousands of Ghana Cedis. The items were presented by the General Manager, Mr. Micheal Aidoo on behalf of the bank.
The bank further educated all its customers to observe the preventive protocols and provided Sekyere Rural Bank branded nose masks to most of its customers.
COVID-19 Relief Package to Customers
As part the bank’s efforts to support our customers revive their businesses from the economic impact of the COVID-19, a ‘COVID-19 Relief Package’ was introduced.
This package granted a moratorium of up to six (6) months for our customers without interest. Loan beneficiaries of staff of private institutions that could not pay their salaries during the pandemic also benefited from this package.
Micheal Aidoo, General Manager
Dr Francis Denteh, Board Chairman
