Bonzali Rural Bank to support SMEs, agribusinesses


Bonzali Rural Bank PLC, a financial institution in the Northern Region, has reiterated its support for small and medium enterprises (SMEs), farmers and other businesses in its operational areas.

With a robust financial position reflected in a balance sheet size of GH¢64million, the bank possesses strength and capability to support the local economy, creating job opportunities, alleviating poverty and enhancing its capacity to meet growing customer demands.

Dr. Augustine Ngmentomo Beakana, its Chief Executive Officer, emphasised the bank’s extensive experience in the financial sector during an interview with B&FT.

He stated: “With many years in the financial sector, we have gained valuable experience to provide excellent customer service, timely financial assistance and collaborate with state and private institutions to enhance our customers’ capacity for business growth”.

Over 1,000 SMEs, teachers, agribusinesses, artisans and others in the operational areas have benefitted from the bank’s loan services. It currently offers E-banking services such as GIP, Western Union, e-zwich, AIP, ACH and salary advances for teachers.

Loan services include commercial, overdraft, agric-loans and personal loans, while deposit products encompass savings, walma, current accounts, fixed deposits, abia dahinshali accounts and zaa buni savings.

The CEO highlighted the bank’s strong research and business development team, which engages customers and the public to identify and tailor services to their needs – aligning with the bank’s purpose.

He noted the bank’s significant deposit growth due to effective mechanisms for curbing fraud and inefficiencies, along with improved product and service quality that builds customer trust.

In 2024, the bank developed quality financial services to meet regulatory requirements. Collaborations with development partners aim at improving access to financial and technical support, ensuring funds are used for their intended purpose.

The bank is committed to maintaining its microfinance dominance, expanding operations to strategic areas for economic growth.

The CEO urged district assemblies in its operational areas to channel investments via the bank for seamless transactions.

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