Felicia Aba Dawood
Lower Pra Rural Bank Plc, which has branches in some parts of Western and Central Regions increased its profit after tax from GH¢3,769,124.00 in 2023 to GH¢14,906,272.00 in 2024, representing a 395 percent increase.
The Bank’s deposits also went up from GH¢236,024,683.00 in 2023 to GH¢333,628,343.00 in 2024 showing a growth of 41 percent.
Its total assets also increased from GH¢256,280,061.00 in 2023 to GH¢379,536,727.00 in 2024 representing a change of 48 per cent.
This came to light at the 37th Annual General Meeting (AGM) of the bank at Shama in the Western Region.
Chairperson of the Board of Directors of the bank, Felicia Aba Dawood, described the success chalked as unprecedented in recent years.
“We were able to make these strides thanks to the sound leadership of the board and management, the hard work of staff, the loyalty of our customers and the unflinching support of all our stakeholders,” she added.
She said credit risk still remains a concern as reflected in the Non-Performing Loans (NPL).
“Your bank is going to embark on a robust loan recovery in the year 2025 to reduce the NPL even further. We encourage our customers to repay loans to ensure your bank serves you even better,” she noted.
She reaffirmed the bank’s commitment to ensuring its host communities thrive with an investment of GH¢2,665,900.00 in Corporate Social Responsibility (CSR).
“These investments were in education and sports, health and social services such as the provision of boreholes, and toilet facilities in the rural areas in Shama and its environs.
Chief Executive Officer of the bank, Ernest Nii Tackie-Otto, said, “The leadership before me has done an incredible job laying a strong foundation”.
He said he was committed to steering the affairs of the bank with integrity, transparency, and measurable results.
“Together with a strong leadership and the dedication of my staff, we will position this bank as not only a financial institution, but as a meaningful part of people’s lives,” he added.
Deputy Managing Director-ARB Apex Bank, Curtis Brentuo, commended Lower Pra Bank Plc for its achievements in the year under review.
From Emmanuel Opoku, Shama