The Avenor Community Bank PLC is targeting a minimum stated capital of GH¢5 million by December 2026 as it moves to strengthen its financial position and meet the new regulatory requirement.
The Bank said achieving the threshold would position it to pursue new business opportunities, support sustainable growth, and improve long-term returns to shareholders.
Mr Thomas Clarkson Adade, Board Chairman of the Bank, disclosed this in his Chairman’s Report presented at the Bank’s 43rd Annual General Meeting in Akatsi on Saturday.
He said the Bank was taking steps to strengthen its capital base and had outlined measures to meet the new minimum stated capital requirement.
The Bank, he said, was also seeking to strengthen its capital position through increased shareholder participation and other approved capitalisation measures.
Mr Adade said the Bank’s outlook remained positive and that Management would continue to focus on strengthening corporate governance, risk management and compliance frameworks.
He said the Bank would also improve service delivery and operational efficiency while expanding its instant microfinance loan product into new catchment areas.
Mr Adade further said the Bank intended to increase support for small and medium-scale enterprises as part of its strategy to deepen financial inclusion and stimulate local economic activity.
The Bank’s financial performance in 2025 showed a 9.79 per cent increase in profit before taxing to GHS2.99 million, while total assets rose by 31.08 per cent to GHS60.08 million.
Customer deposits also increased by 38.37 per cent to GHS44.80 million, with loans and advances growing by 17.93 per cent to GHS18.99 million.
Mr Daniel Dagba, Municipal Chief Executive for Akatsi South, who served as Guest Speaker, commended the Bank for its performance and urged the Board and Management to combine financial growth with interventions that would directly improve the welfare of residents.
He said the Assembly was committed to working with the Bank to promote local enterprise, agriculture, youth empowerment, and community development.
GNA
