The Amenfiman Rural Bank Limited at Wassa Akropong in the Wassa Amenfi East District in the Western Region has opened a branch at Kejetia in Kumasi.
This is the fourth branch in the Kumasi Metropolis coming after Santasi, Abrepo Junction, Suame and the newly inaugurated Kejetia branch making eighteen in total the number of branches currently being operated by the bank.
These are Wassa Akropong, Wassa Akropong High Street, Manso Amenfi, Asankragwa, Samraboi, Asankragwa main (Nkoso Fie), Dunkwa on Offin, Prestea and Bawdie.
The rest are Enchi, Tamso, Santasi in Kumasi, Sefwi Dwenase (Adepa Fie), Tarkwa, Abrepo also in Kumasi, Sefwi Bekwai and Suame, and the newly inaugurated Kejetia branch.
B&FT can confirm that Amenfiman & Fiaseman Rural Banks originally registered to operate in the Western Region are the only rural banks that have been licensed by the Bank of Ghana to open branches outside their home region.
The development stems from the fact that Amenfiman has made some tremendous impact in the metropolis since it entered the Kumasi market hence the demand for more branches.
The CEO, Dr. Alex Asmah has reiterated in an interview that entering into a typically petty trading enclave like Kejetia means they have come to do what the bank is very well-noted for. He said Amenfiman Rural Bank has succeeded in nurturing small businesses to become more viable and helped those businesses to make a very significant impact.
He further mentioned that the bank has given credit support to petty traders and small business owners and educated them to ensure that the products are utilized appropriately so that the customers can realize the anticipated profit and pay back the loans.
“We have the expertise in managing small businesses and petty trading and that has been our primary focus as a rural bank; opening a branch at Kejetia means we have come to the people who really need our support and we are poised to make a very significant impact here at Kejetia, he stressed.
Dr. Asmah stressed that the rural banking industry has a purpose for which they were established and Amenfiman Rural Bank would not move away from its core objectives of ensuring that the communities in which the Bank operates see the kind of development they desire to have.
According to him, the bank will not relent in its efforts to remain innovative in its products development agenda which will be tailor-made so that it will continue to be relevant particularly to the community in which they operate.
The Chairman of the Board of Directors, Dr. Tony Aubynn in a brief remark said making enough profit and paying a good dividend to shareholders are not only the primary focus of the bank, but they are also very committed to their corporate social responsibility activities.
He advised customers at the Kejetia branch to have the confidence to do business with the bank because the bank has a very solid financial standing.
The Bank recorded a little over GH¢6million as the bank’s total share capital as at close of December 2019.
The amount which far exceeds Bank of Ghana’s minimum threshold and is about 500% more than the minimum GH¢ 1million mandated for all rural banks to achieve in 2020.
B&FT can confirm that Amenfiman Rural Bank holds the highest share capital in the rural banking industry as at the close of December 2019.
The Bank has recorded consistent growth in its stated capital since 2016 to date and has devised a strategy to realize GH¢10million in four years.