By Juliet Aguiar DUGBARTEY, Shama
Lower Pra Rural Bank PLC has shown exceptional resilience and performed exceptionally well in the year under review.
Profit After Tax increased from GH¢3,769,124 in 2023 to GH¢14,906,272 in 2024, showing a change of 395 percent.
Deposits rose from GH¢236,024,683 in 2023 to GH¢333,628,343 in 2024, showing a growth of 41 percent.
Total Assets grew from GH¢256,280,061 in 2023 to GH¢379,536,727 in 2024, representing a change of 48 percent – a feat that has not been achieved in recent years.
“We were able to make these strides thanks to the sound leadership of the board and management, the hard work of staff, the loyalty of our customers and the unflinching support of all our stakeholders,” said Madam Felicia Aba Dawood, Chairperson of the Lower Pra Rural Bank PLC, at the 37th Annual General Meeting (AGM) of the bank at Shama in the Western Region.
She said credit risk still remains a concern as reflected in the Non-Performing Loans (NPL). “Your bank is going to embark on a robust loan recovery in the year 2025 to reduce the NPL even further. We encouraged our loan customers to repay loans made to them to encourage your bank serve you even better.”
She reaffirmed the bank’s commitment to ensuring that the community thrives by investing GH¢2,665,900 in corporate social responsibility (CSR).
“These investments were in education and sports, health and social services such as the provision of boreholes, toilet facilities in the rural areas in Shama and its environs, impacting thousands and driving sustainable progress and restoring hope in people,” she added.
Ernest Nii Tackie-Otto, the Chief Executive Officer (CEO) of Lower Pra Rural Bank PLC, said: “The leadership before me had done an admirable job laying a strong foundation. Now, as we look ahead, our journey continues but with sharper focus and renewed energy. Thanks to their dedication, we have a strong foundation to build upon”.
“I am committed to driving this bank with integrity, transparency and measurable results. Together with a strong leadership team and the dedication of my able staff, we will position this bank as not only a financial institution, but as a meaningful part of people’s lives. My leadership will be marked by transparency, accountability and results. We are here to create long-term value for all stakeholders and to ensure your investment continues to grow,” the CEO added.
Vincent Essien Blaychie, President of the Western Region Association of Rural Banks, commended the staff and management of the bank for the profit and deposit which have been sterling.
He urged the staff to cooperate with the new CEO, adding: “Every leader has his style, let us rally behind him for the sustainability of the bank”.
Curtis Brentuo, Deputy Managing Director – ARB Apex Bank, also commended Lower Pra Bank PLC for achieving this feat.
“Develop more credit products for non-performing loans to be minimal,” he added.
