Amenfiman Rural Bank Limited at Wasa Akropong in the Wasa Amenfi East Municipality of the Western Region has been adjudged Ghana Club 100 leader in the rural bank sector.
Of the 147 rural banks in the country, 9 made it into the prestigious annual compilation of the top 100 companies in Ghana that gives recognition to successful enterprise-building – for which Amenfiman Rural Bank claimed the 17th spot, registering it as the first rural bank to appear on the list.
This is the fifth time in a series that the bank has received this recognition for outstanding financial results, exceptional management and leadership, and positive contributions to the people’s prosperity. The bank is highly recognised as a long-standing member of Ghana Club 100.
The 19th edition of the esteemed Ghana Club 100 awards was organised by the Ghana Investment Promotion Council at the Kempinski Gold Coast Hotel in Accra, and was celebrated under the patronage of Senior Minister Yaw Osafo Marfo, under the theme ‘Ghana’s Private Sector, a Catalyst for Post-Pandemic Economic Transformation’.
The event identified and celebrated the best one hundred businesses in Ghana, and also awarded the leading companies in each of the strategic sectors: that is, the Best Company in Agriculture and Agribusiness, Financial Services, Information and Communication Technology, Services, Infrastructure, Petroleum and Mining Services, Manufacturing, Tourism, Health, and Education.
Amenfiman Rural Bank has recorded tremendous growth in all indicators for the past six years, vigorously penetrating the market and making very positive financial impact.
The bank’s total deposits grew significantly from GH¢363.6million in 2020 to GH¢402million in 2021, representing 10.47% growth in 2021.
The bank’s stated capital as of December 2021 stood at GH¢6.7million, significantly above the regulatory requirement of GH¢1million. This is an indication that Amenfiman Rural Bank is sufficiently capitalised for the banking business.
Commenting on the award, bank CEO Dr. Alex Asmah said to be recognised for the 5th time running as the number-one rural bank in Club 100 – and even coming ahead of some big commercial banks – comes with a lot of challenges and responsibilities to maintain or improve upon the bank’s performance.
“As a bank with this recognition, we must spare no effort in living up to the expectations of excellence and ensure that we do things right – particularly in the area of corporate governance and regulatory compliance, and be persistent with our vision and mission so we can continue to pride ourselves with the success of our clients,” he stressed.
Dr. Asmah finally dedicated the award to all customers, shareholders as well as employees of the bank for their commitment to the Amenfiman brand.