Odotobri Rural Bank PLC spent an amount of GHs 191,430 last year on socio-economic activities in and beyond communities it operates.
Per the breakdown, it injected GHs 51,700.00 into Education and Scholarship, GHs 11,164.00 into Health, GHs 58,100.00 inti Traditional Support, GHs 1,000.00 into Ghana Police Service , GHs 28,820.00 into Agriculture and GHs 40,646.00 into other related Corporate Social Responsibility.
As a way of offering financial support to customers, the Bank granted total loans and overdraft facilities of GHs 56,840,612.00 to customers, representing an increase of 26.11%.
In the same year, the Bank’s share capital grew by 14.39% from GHs 3,342,973.00 in 2022 to GHs 3,823,864.00 in 2023.
It also recorded a profit of GHs 9,176,738.00 in 2023.
Total Assets recorded an increase of 30.75% from GHs 273,808,115 in 2022 to GHs 357,993,798.00 in 2023.
Share Capital also grew by 14.39% that is increasing from GHs 3,342,973.00 as at 31st December, 2022 to GHs 3,823,864.00.
In recognition of its remarkable performance, it was ranked 88th in the ranking of companies in Ghana by Investment Promoting Centre (IPC).
It was also ranked 14th out of 130 Rural and Community Banks in the 4th Quarter Performance Review of 2023 financial year.
The above were disclosed by the Board Chairman of the Bank, His Worship Rev. Prince Osei Owusu when delivering his report at the Bank’s 37th Annual General Meeting held on Saturday, 26th October, 2024 at Jacobu of the Amansie Central District.
In his address, His Worship Rev. Prince Osei Owusu acknowledged the commitment of the Board, Management and entire staff to the objectives of the Bank.
He underscored their individual and collective efforts as the key that culminated in the significant performance in the Bank’s operational results for 2023 financial year.
