Capital Rural Bank Ltd is Progressing Despite Challenges in it's Operation. 

The Capital Rural Bank Ltd at Abesim in the Sunyani Municipal of the Bono Region has made satisfactory strides toward growth at the end of its 2021 financial performance review.

According to the Board Chairperson of the Bank, this comes on a backdrop of years of operational challenges largely occasioned by externalities such as the repercussion of financial sector clean-up and the impact of the COVID-19 pandemic that caused the bank’s growth in the face of financial performance metrics.

The bank posted a significant 169 percent increase in profit before tax as it soared from a loss of GH¢987,765 in 2020 to GH¢681,991 in 2021.

As the major driver of the bank’s income, the loans portfolios performed well, closing the 2021 financial year with a total of GH¢14.07million, showing an impressive 42.24 percent more than the previous year’s figure of GH¢9.89million.

Mrs. Patricia Peprah-Agyemang, the Board Chairperson of the Bank announced these developments during the 17th Annual Shareholders General Meeting held at Abesim, the headquarters of the bank. 

She alluded that, the achievement of the bank was premised on the relative growth and development of the macroeconomic environment in 2021, adding that: “There is still a considerable distance to go to give the Ghanaian economy a clean bill of health.”

According to the Chairperson, after meeting all the liabilities, the bank’s residual value by the end of 2021 amounted to GH¢1.98million. The figure shows that the shareholders’ fund grew by 20.90 percent from the previous year’s figure of GH¢1.64million.

The Chief Executive Officer of the bank, Mr. Godfred Acheampong Larbi, urged Ghanaians to adopt the habit of saving in this current global economic crisis everyone is facing to save each and everyone from financial mismanagement.

He added that the bank is currently pursuing programs that will bring expansion in its operations, and also focus on improving its existing products and services to meet the needs of customers, as well as making them attractive to prospective customers.

On deposit mobilization drive, he explained that the bank will continue to be supported to consolidate the impressive records achieved in the last two years in operations and believe the services introduced will attract most of their customers to increase their revenue base in the years ahead. 

Story by Opamago Paparichy.