Amantin and Kasei Community Bank, based at Amantin in the Bono East Region, recorded a profit after tax of GH¢5.99 million for the 2024 financial year, representing a growth of 222.53 per cent over the GH¢1.85 million posted in 2023.
The strong performance influenced the Board of Directors’ proposal to pay GH¢1,491,184.40 in dividends to shareholders for 2024, translating into GH¢0.37 per share.
The Board Chairman, Richard Owusu Afriyie, who announced this at the bank’s 20th Annual General Meeting (AGM), noted that the payment is subject to approval by the Bank of Ghana, which ratifies all dividend declarations in the banking sector.
On other indicators, he said total deposits rose from GH¢81.5 million in 2023 to GH¢148.1 million in 2024, representing growth of 81.66 per cent.
The lending portfolio also expanded by 69.62 per cent, increasing from GH¢25.34 million to GH¢42.98 million, creating opportunities for businesses, especially in the agricultural value chain, to access financing.
Mr. Afriyie explained that the increase in loan disbursements reflected the bank’s strategic support for micro, small and medium-scale enterprises (MSMEs), agriculture and community-based businesses, which are key drivers of local economic growth.
He further disclosed that investments surged by 102.44 per cent to GH¢76.19 million from GH¢37.63 million in 2023, while total assets climbed by 80.45 per cent to GH¢167.9 million from GH¢93.06 million the previous year.
Gross income also rose by 66.32 per cent, reaching GH¢29.82 million compared with GH¢17.93 million in 2023.
On the bank’s capital position, Mr. Afriyie said the institution ended the year with a Capital Adequacy Ratio (CAR) of 17.78 per cent, well above the Bank of Ghana’s 10 per cent benchmark.
This, he noted, demonstrated resilience against market volatility while safeguarding depositor funds. The bank’s stated capital as at December 31, 2024, stood at GH¢1,545,456.
Touching on corporate social responsibility (CSR), the Board Chairman announced that GH¢599,186.00 from the 2024 profit after tax had been transferred into the CSR fund to support development initiatives within the bank’s catchment area.\
