By Enock Akonnor (Managing Editor) enockakonnor2013@gmail.com
Asokore Mampong Rural Bank PLC is emerging as a stabilizing economic force within the Ashanti Region, leveraging prudent management, strengthened governance, and community-focused strategies to weather national uncertainties and expand its footprint.
Speaking at the Bank’s 4th Annual General Meeting in Asokore Mampong, Vice Chairman Mr. Sefa Dankwa emphasized that the Bank’s 2024 performance was not only a story of financial growth but also a reflection of strategic discipline in an election-year economy.
Instead of aggressive lending, the Bank prioritized safeguarding customer funds, improving governance structures, and building strong investment buffers; decisions that have positioned it for accelerated lending in 2025.
Strategic Caution Pays Off Amid National Uncertainty
While many financial institutions struggled with volatility tied to the election cycle, Asokore Mampong Rural Bank adopted a deliberately cautious approach.
This included slowing loan disbursements to protect asset quality while accelerating deposit mobilization and investment growth.
This strategy resulted in a 65% rise in total assets and a 63% growth in investments, signaling strong public confidence in the Bank at a time when many Ghanaians were wary of financial stability.
Strengthening Governance for Long-Term Stability
A key theme at the AGM was governance reform. The introduction of Lawyer Phyllis Irene Nortey into the Board pending BoG approval marks a broader effort to deepen legal, compliance, and risk oversight.
The end of tenure of the previous external auditors and the proposal of Softwind Consults also reflect the Bank’s adherence to modern governance standards.
These reforms, according to Mr. Dankwa, are essential as the Bank transitions from a rural financial institution into a competitive regional player.
Evolving From a Rural Bank Into a Regional Force
The Bank’s recent recognition as “Best in Rural Banking” at the Ashanti Business Merit Awards highlights its growing influence beyond the municipality.
With deposits for mid-2025 already surpassing 2024’s year-end numbers and profit before tax for the first half of 2025 exceeding the entire previous year, the Bank is transitioning into a major financial anchor for small and medium enterprises in the region.
The planned establishment of a new fourth branch in Adum, Kumasi’s commercial hub, further signals this strategic shift from rural-focused banking to a broader urban–rural financial service model.
Community Impact at the Core
Despite its expansion aspirations, the Bank maintains its grassroots identity. Over GH¢46,000 has been invested in community initiatives since 2020, reinforcing its role as a development partner rather than just a financial service provider.
A Call for Shared Ownership
The leadership appealed to shareholders and local institutions to increase their stake in the Bank, emphasizing that collective investment is crucial for sustaining its growth trajectory and reinforcing its mission as a community-owned financial institution.
Source; www.leakyGhana.com
Enock Akonnor is an experienced Ghanaian journalist, based in Kumasi and currently serves as the CEO and Managing Editor of www.leakyghana.com.
With a wealth of expertise built over many years in the media industry, he has earned a solid reputation as one of Ghana’s most sought-after journalists.
Contact:
📞 +233 541 921 562
✉️ enockakonnor2013@gmail.com
