Anlo Rural Bank Plc records significant profit in 2022
News & Reports
Anloga (V/R), Dec. 04, GNA- The Anlo Rural Bank Plc in the Anloga District of the Volta Region, has made a significant gain in the 2022 financial year.
The Bank recorded a profit growth of GH¢584,000.00 after tax in the year under review, compared to the GH¢469,000.00 and GH¢289,000.00 recorded in 2021 and 2020, respectively.
The Bank’s profit before tax also increased by 29.21 per cent over the previous year, which could be credited to optimise interest incomes and effective fee generation strategies.
In terms of loans, the Bank witnessed steady growth, expanding by 33.08 per cent year-on-year and reaching GH¢4,482,389.00 for the year 2022.
The Bank also declared a dividend payout of GH¢0.30 per share at its Annual General Meeting.
Dr Kwasi Gbordzi, the Board Chairman of the Bank, said the feat was chalked due to robust financial performances, healthy capital adequacy, and this reflected their continuous focus on creating shareholder value and rewarding the trust and confidence of the people.
Mr Sylvester Atsu Bedzra, the Chief Executive Officer of the Bank, told the Ghana News Agency, that the Bank had done significantly well by realising such profits and per their figures so far, 2023 would be another landmark year for the Bank.
In 2022, the Bank undertook some corporate social responsibilities including donations of air conditioners to the Keta Municipal Hospital and also supported the Farmers Day celebration in the Keta and Anloga Districts.
The Bank is one of the leading domestic banks in the region and is headquartered at Anloga with two other branches at Dzelukope and Abor.
It offers commercial services like trade loans, agricultural loans, transport loans, school loans, church loans, “Dzidedi” loans, and microfinance or group loans in addition to other services, including “susu” collections.