Close Menu
MyGhanaDaily
    Facebook X (Twitter) Instagram
    MyGhanaDaily
    Monday, October 6
    Trending
    • Speaker of Parliament postpones resumption of parliament
    • African Union Soil Observatory Project Officially Launched
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    • Best Ghanaian Music Videos of All Time
    Your Marketplace Banner
    • News
    • Business
    • Entertainment
      • Music
      • Movies
      • Fashion
      • Celebrity news
    • Sports
    • Health
    • Technology
    • Agriculture
    • Opportunites
    • Videos
    • More
      • Education
      • Tourism
      • History
      • Feature
      • Opinion
      • World
    MyGhanaDaily
    Home»Finance»Nyakrom Rural Bank PLC makes giant strides, profit in 2023
    Finance

    Nyakrom Rural Bank PLC makes giant strides, profit in 2023

    myghanadailyBy myghanadailyMay 15, 2024No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Nyakrom Rural Bank PLC makes giant strides, profit in 2023. The Nyakrom Rural Bank PLC, the pioneer rural bank, has made a profit before tax of GHC 2.143 million in 2023 compared with GHC 1.03 0 million in 2022, representing a 108 per cent growth.
    Nyakrom Rural Bank PLC makes giant strides, profit in 2023. The Nyakrom Rural Bank PLC, the pioneer rural bank, has made a profit before tax of GHC 2.143 million in 2023 compared with GHC 1.03 0 million in 2022, representing a 108 per cent growth.
    Getting your Trinity Audio player ready...

    Nyakrom Rural Bank PLC makes giant strides, profit in 2023. The Nyakrom Rural Bank PLC, the pioneer rural bank, has made a profit before tax of GHC 2.143 million in 2023 compared with GHC 1.03 0 million in 2022, representing a 108 per cent growth.

    The Board of Directors and the Management of the bank are working assiduously to improve on the performance in the coming year, despite economic challenges facing the country.

    Send your stories to Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140

      Nana Ambrose Linson Arthur, Chairman of the Board of Directors, announced this at the 43rd Annual General Meeting (AGM) of the shareholders of the bank at Agona Nyakrom in the Central region.

    The Chairman said the total deposit from customers grew to GHC 91. 33 million in 2023 from GHC 67.64 million in 2022, a 35 percent increase.

    He said the bank’s assets increased from GHC 71.4 million in 2022 to GHC 100.19 million in 2023, representing 40 percent growth over last year’s performance.

    ‘’ Our total investments increased from GHC 18. 62 million in 2022 to GHC 21.09 million in 2023, representing 13 percent growth over the period ‘’ the Board Chairman announced.

    Nana Linson Arthur said the net loans and advances granted to customers grew from GHC 40.44 million in 2022 to GHC 59.86 million in 2023, a 48 percent growth.

    According to Nana Linson Arthur, the growth in loans was as a result of expansion in the bank’s Women in Development (WID) Cocoa and fish programmes which was started three years ago.

    He said the bank expanded cocoa farmers loan to 146 groups of about 2,500 farmers in the catchment area, adding that the bank disbursed a total of GHC 10.2 million to maintain their cocoa farms.

    Nana Linson Arthur said the bank’s microfinance product had seen significant improvement and by the end of 2023, the bank had about 943 groups of about 8,900 customers, saying the bank was able to disburse more than GHC 50 million and hoped to increase it to GHC70 million in 2024.

    Mr Kaedebi Donkor, Chief Executive Officer (CEO) of Nyakrom Rural Bank PLC, underscored the bank’s significant progress in its financial operations and called on market women and business executives in the catchment area to take advantage to access numerous facilities to grow their businesses.

    He said the bank had rolled out many products and services to facilitate growth, which included fixed deposit, Susu Account, Susu loans, commercial loans, Quick susu loans and others.

     Okofo Katakyi  Nyakoh Eku X, Omanhene of Nyakrom Traditional Area, commended the board of Directors and Management of the bank for their hard work and dedicated services that had yielded positive results.

    He called on the shareholders of the bank to increase their shares to enable the bank to increase its share capital in order to become one of the best rural banks in the country.

    Mr Kweku Kum, the president of the Central Regional chapter of the Association of Rural Banks, praised the board of directors and the management of the bank for their innovative operations that had contributed meaningfully to the significant growth of the financial position of the bank.

    He added his voice to calls on shareholders to buy more shares to help improve and increase share capital of the bank to further enhance its operations.

    Source: GNA

    Send your news stories to
    Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140
    Advertise with us | Follow our WhatsApp channel for more news
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleAfrica must harness innovative, digital solutions for economic prosperity – President Akufo-Addo
    Next Article  Charlotte Osei chairs 2024 Oguaa Fetu Afahye Planning Committee
    myghanadaily

    myghanadaily is managed by the Publishing Desk. You can reach us via email; info@myghanadaily.com

    Related Posts

    GRA takes tax education to markets as part of GH¢360 billion revenue drive

    May 9, 2025

    Ghanaian workers call for reset in service conditions

    May 1, 2025

    Economic recovery hinges on 2025 Budget, asserts Finance Minister Ato Forson

    March 11, 2025
    LATEST NEWS
    • Speaker of Parliament postpones resumption of parliament
    • African Union Soil Observatory Project Officially Launched
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    SPORTS NEWS

    2026 FIFA WCQ: Ghana beats Mali

    September 9, 2025

    The Black Stars Podcast: A six-part dive into Ghana’s football history, struggles and sparks of glory

    August 30, 2025

    2026 World Cup qualifiers: Black Stars set to open camp on September 1

    August 27, 2025

    Felix Afena-Gyan Joins Amedspor on Season-Long Loan

    August 21, 2025

    Ayew Stays Positive as Foxes Target Quick Response

    August 21, 2025
    Recent Posts
    • Speaker of Parliament postpones resumption of parliament
    • African Union Soil Observatory Project Officially Launched
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    Like Us On Facebook
    Facebook Pagelike Widget
    • Facebook
    • Twitter
    • Instagram
    © 2019 -2025 Copyright | MyGhanaDaily.com

    Type above and press Enter to search. Press Esc to cancel.