Atwima Rural Bank on profit making trajectory

Eric Appiah, Board Chairman, addressing shareholders during the meeting

…shareholders urged to increase investments

Atwima Rural Bank PLC at Foase in the Atwima Kwamwoma district of Ashanti Region is back on the path of making profit after a short period of operational distress.

By this, existing shareholders and prospective ones have been urged to buy more shares to set the bank’s growth pattern on the long-term objective of making positive impact in the communities where they operate.

The bank’s Management Performance Review as at August, 2022 revealed a profit before tax of about GH¢841,000. This is a significant performance, and therefore the Board and Management are doing everything possible to ensure sustained operational efficiency to end the year well and give value to shareholders.

The Board and Management did a great job by moving the bank from a loss position of GH¢2,097,740 in 2020 to a profitable one at GH¢148,797 in 2021

The bank made positive strides and recorded profit after tax of GH¢148,797 in 2021, moving from a loss position of GH¢2,097,740 in 2020.

This historic positive result was realised due to the sacrifice and hard work of the Board, Management and Staff – and they have resolved to work much harder and spare no effort until the bank regains its lost glory.

Chairman of the Board of Directors, Mr. Eric Appiah, announced these and more at the bank’s 28th Annual General Meeting of Shareholders held last Friday at the Methodist Church in Atwima Foase, near Kumasi.

Operational Environment

According to the Board Chairman, the banking industry has undergone consolidation over recent years and regulatory oversight has improved. Capital levels are now broadly considered adequate, but more needs to be done in embedding good risk management practices as outlined in the Capital Requirements Directive (CRD) issued in June 2018.

This, he revealed, will not only create a more optimistic environment for the banking sector but also help grow public trust and confidence, and allow the regulator to focus supervisory actions on the weaker banks which a proper and full implementation of the CRD will continuously unearth.

The banking sector remained strong in 2021 with a capital-adequacy ratio of 20.8% at end of June 2021, nearly double the regulatory minimum of 11.5%. Poverty declined from 12% in 2020 to 11% in 2021, given GDP per capita growth of 2.3% from a contraction of 1.7% in 2020.

Operational Performance

In spite of the challenging macroeconomic environment coupled with unprecedented happenings that pertained during the reviewed year, the bank managed to record some positive variants in almost all the financial indicators for 2021 as indicated in the table below.

Key Performance Indicators for 2021 as against 2020





Deposits 44,010,307 38,460,115 14.43
Investments 11,130,476 10,402,697 7.00
Loans and Advances 15,695,529 9,358,265 67.71
Share Capital 1,199,524 1,156,736 3.70
Total Assets 38,399,585 32,368,917 18.63
Profit for the Year 148,797 -2,097,740


The significant growth in Loans and Advances came as a result of investment in less risky loans, such as Controller and Accountant-General Department (CAGD) loans, to compensate for the huge previous non-performing loans.

The bank made an important decision in respect of investment in government of Ghana Treasury bills and bonds, and hopes to increase such risk-free investments in the future to ensure sustainable liquidity and profitability for the bank.

The marginal growth in share capital means that owners and prospective owners of the bank, shareholders should increase their investment in shares of the bank to enjoy profit distribution as dividend and shared value.


The Board did not recommend any payment of dividend based on the bank’s current position and the Bank of Ghana’s directive on the Suspension of Distribution of Dividends (NOTICE NO. BG/GOV/SEC/2021/06).

Shareholder Passion

The shareholders passionately registered their concern for realization of the bank’s growth in the shadows of its birth-town, Atwima Foase. They urged the Board to turn their attention to rehabilitating the head-office building located at Foase, which they believe will at least give a facelift to the town

The Chairman assured shareholders of the Board’s plan in regard to considering their grievances, and called for the shareholders’ continuous support for growth of the bank by buying more shares to strengthen its current equity position – so that they can facilitate whatever strategic plan for development is being anticipated by the shareholders.

A shareholder of the bank, Mr. George Boahen, initiated the head-office building’s rehabilitation – which he led by example and pledged a donation of fifty thousand bags of cement to the bank, primarily to quicken the plan for the head-office building’s facelift.

The Ashanti Chapter of the Association of Rural Banks’ president, Mr. Patrick Owusu, commended the Board for the bank’s current profitable. He was particularly happy because Atwima Rural Bank PLC – being the ‘first born’ in Ashanti – was almost losing its seniority. He urged the Board to continue on this growth trajectory by operating within the Companies Act as well as regulatory directives.

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