#OutstandingBrands2022: Sekyere Rural Bank – making versatility and innovation a key focus for growth

Sekyere Rural Bank
Michael Aidoo, CEO

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


To be a rural bank of choice


To be a unique bank, propelled by a motivated workforce, customized products, better banking services, to give value to our shareholders


  • 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.

 Products and services

Savings Products:

  • Current Accounts
  • Savings Accounts
  • Fixed Deposits
  • Susu Savings Accounts
  • Medaakye Savings (Investments Account)
  • Bronya Anidaso Savings
  • Aku Sika Group Savings

Loans and Advances

  • Overdrafts Facilities
  • Salary Advance
  • Commercial Loans
  • Salaried Loans
  • Credit Line
  • S- Smart Loan (Controller Loan Product)
  • X’mas Loan
  • Group Loans (Aku Sika)
  • Susu Loans
  • Funeral Loans
  • Fast Track Loan (FT)
  • Agric Loan
  • Development Loan (DL)

Other Services

  • Domestic Funds Transfers
  • Western Union Money Transfer
  • Advisory Service (Trust, Investment)
  • Shares
  • Agent for the ARB Apex Bank and other Financial Institutions in the country
  • Safe-Custody Services (Bailment Agreement)
  • Executors and Trustees for Wills

Distribution channel

The bank currently has nine (9) Vibrant & fully networked branches across the region and has its head office located in Jamasi. The branches are as follows:

  • Jamasi
  • Agona
  • Ntonso
  • Mamponteng
  • Ahwiaa
  • Kronom
  • Afrancho
  • Abrepo Junction
  • Mensah

Board of directors

The affairs of the bank are directed by the following able and competent Board of Directors:

Noble Dr. Francis Denteh                       – Board Chairman

Mr. Osei-Assibey Bonsu                         – Vice Chairman

Kwame Owusu Sekyere, Esq.                 – Board Secretary

Mr. John Amoah                                     – Member

ACP Nana Bediako-Poku I (Rtd)            – Member

Mr. Kofi Boateng Oduro                         – Member

Miss Constance Asamoah                        – Member

Executive management

The bank prides itself with a well-qualified, professional and competent Executive Management team:

Micheal Aidoo                         – Chief Executive Officer

Prosper Badu                           – Deputy General Manager, Operations

James Owusu -Ansah               – Deputy General Manager, Finance and Administration

  1. Krobea Asante – Manager, Risk and Compliance

Muntala Mohammed               – Manager, Audit

Simon Aboagye                       – Manager, Microfinance

Ulric Ofori Asare                     – Manager, IT

Samuel Opoku Ware                – Manager, Credit

Esi Ampiah Adu-Gyamfi        – Manager, Human Resource

Percy Sydney Annan               – Manager, Marketing

Maxwell John Adu                  – Manager, Administration

Performance analysis

Sekyere Rural Bank Limited has been recording an impressive year-on-year performance in all performance indicators as depicted below:

DEC. 2020 DEC. 2021 INCREASE
Deposit 115,727,784.74 126,840,131.92 11,112,347.18
Investment 66,620,933.29 68,765,947.33 2,145,014.04
Loans/Advances 33,929,296.08 49,060,840.29 15,131,544.21
Share Capital 2,206,957.99 2,240,177.99 33,220
Total Assets 134,670,155.42 142,635,085.61 7,964,930.19
Profit Before Tax 1,036,613.86 1,865,295.69 828,681.83


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 within its catchment areas to be awarded deserving farmers.  The bank has also donated several quantities of branded exercise books in support of the Otumfour Educational Fund, other schools, and also sponsored educational quizzes, among others.

Various Personal Protective Equipment (PPEs) were donated by the bank to three health facilities during the COVID-19 pandemic. 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. 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.

The bank recently built and furnished a security post for the Jamasi Health Center to improve security at the hospital.

What to look out for in 2022

  • Excellent customer service.
  • Introduction of new products and repackaging of existing ones that will meet the needs of our customers.
  • The use of innovative ways to sell the bank’s products through digitalization.
  • Offer lending to its customers at a very moderate lending rates.


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