January 29, 2026
In a stellar performance, Nkrankwanta Area Rural Bank, located in Dormaa West District, demonstrated significant progress across financial indicators in 2021.
Performance Highlights:
Deposit Growth: Achieved a remarkable 23% growth, closing the year with over GH¢17.31 million compared to GH¢14.12 million in the previous year.
Loans and Advances: Registered a substantial increase of 187%, reaching various sectors and ending the year with a total deposit of GH¢4.05 million.
Asset Base Growth:
The bank’s assets grew by 30%, reaching GH¢19.25 million.
Profit Surge: Despite a marginal reduction in short-term investments, the bank posted a remarkable 251% growth in pre-tax profit, standing at GH¢541,056.
Stated Capital Increase:
Witnessed a 10% rise from GH¢1.03 million to GH¢1.13 million.
Shareholders’ Fund Soars: Experienced an outstanding 360% increase, soaring from GH¢224,516 to GH¢1.03 million.
Dividend and Future Outlook:
Due to regulatory directives, the bank couldn’t propose dividends; however, it remains optimistic about future payouts.
Future Strategies:
The bank plans to deepen customer relationships, enhance technology, innovate products, manage risks, and maintain regulatory compliance for sustained growth.
Agency Expansion:
The bank is set to open a new agency at Dormaa-Ahenkro and relocate the Adabokrom agency in the Western North Region for strategic growth.
Nkrankwanta Area Rural Bank remains steadfast in its commitment to providing superior services and ensuring a robust future in the banking industry.
