Kintampo Rural Bank achieves over GHC100 million profit – Chief Executive 

The Kintampo Rural Bank in the Bono East Region realised GHC130 million profit in the 2023 and 2024 financial year, Mr Martin Mensah, the Chief Executive Officer of the Bank, has said. 
 
He said the bank’s balance sheet expanded by 35.95 per cent from GHC96.40 million in 2023 to GHC131 million in 2024, saying that the achievement was driven by a strong deposit mobilisation strategy. 
 
Mr Mensah pledged the bank’s dedication to executing its Corporate Social Responsibility to better the socio-economic livelihoods of the rural dwellers.   
 
Speaking to the Ghana News Agency (GNA) in an interview at Kintampo, Mr Mensah said customer deposits also grew from GHC78.33 million to GHC107.47 million, representing 37.20 per cent within the fiscal year. 
 
The bank’s investment portfolio also grew from GHC47.95 million in 2023 to GHC64.90 million in 2024, representing 35.35 percent with loans and advances growing from GHC32.94 million to GHC44.43 million within the period. 
 
Mr Mensah said the bank’s equity grew from GHC14.23 million to GHC20.40 million, representing 43.30 per cent, adding that its pre-tax profit jumped from GHC3.50 million to GHC10.29 million within the period, a representation of 193.67 per cent. 
 
The bank’s profit after tax also witnessed an increase, jumping from GHC2.75 million in 2023 to GHC6.94 million in 2024, a percent of 152.43 increment. 
 
Mr Mensah said its capital adequacy ratio of 29.51 per cent exceeded the regulatory minimum of 10 per cent, thereby reinforcing a stronger capital position and capacity to support future growth. 
 
He added that the bank delivered a sustainable value to shareholders by achieving a return on assets of 5.30 per cent and a return on equity of 34.03 per cent, urging customers and shareholders to continue to remain loyal to the bank. 
 
Mr Mensah said the bank remained dedicated to serving the financial needs of the local communities within its operational enclave, committing to meet the Bank of Ghana’s minimum capital of GHC5 million to operate as a community bank.