Kintampo Rural Bank Records 12.92% Growth in Assets Under CEO’s Leadership.
According to Mr. Martin Mensah, CEO of the Kintampo Rural Bank, the bank’s assets grew by 12.92% in 2021, which is a positive development for the bank’s efforts to boost the socio-economic growth of the Bono East Region.
The bank’s shareholders’ fund also saw an increase from GHC10.94 million in 2020 to GHC12.30 million in 2021, a marginal increment of 12.43%. Additionally, customer deposits increased by 10.65% in 2021, and the bank spent GHC29,690 on corporate social responsibility in health, education, agriculture, and community development.
In collaboration with the Ministry of Gender, Children, and Social Protection, and the Ghana Interbank Payment and Settlement System (GiPSS), the Kintampo Rural Bank is working to ensure that Livelihood Empowerment Against Poverty (LEAP) beneficiaries receive their allowances seamlessly. The bank is currently serving more than 8,000 LEAP beneficiaries in Kintampo South, Kintampo North, and Techiman North districts.
To support agriculture and the food value chain, the bank is partnering with the Mobilizing Finance in Agriculture (MFA) to implement a four-year agriculture financing project in the area. The Feed the Future Ghana MFA aims to increase access to commercial financing for agriculture to facilitate capital investment and promote trade for selected staples and high-value export commodities in the region.
Mr. Mensah urged shareholders and customers to continue supporting the bank’s operations. The Kintampo Rural Bank was established in 1978 and was the first rural bank in the Bono, Bono East, and Ahafo regions, and the seventh in Ghana.