Anlo Rural Bank reports impressive growth in 2022 financial year

Anlo Rural Bank reports impressive growth in 2022 financial year: Ghana News
Economics Anlo Bank  

The Anlo Rural Bank Limited, situated in the Anloga District of the , has achieved substantial financial gains in the 2022 fiscal year.

Key Highlights:

  • The bank recorded an after-tax profit growth of GH¢584,000.00 in 2022, a notable increase from GH¢469,000.00 and GH¢289,000.00 in 2021 and 2020, respectively.
  • Profit before tax experienced a 29.21% year-on-year increase, attributed to optimized interest incomes and effective fee-generation strategies.
  • Loans showed steady growth, expanding by 33.08% year-on-year, reaching GH¢4,482,389.00 in 2022.
  • The bank declared a dividend payout of GH¢0.30 per share during its Annual General Meeting.

Leadership Statements:

Dr. Kwasi Gbordzi, the Board Chairman, attributed the success to robust financial performances and healthy capital adequacy, emphasizing the bank's commitment to creating shareholder value.

Mr. Sylvester Atsu Bedzra, the CEO, expressed optimism about the bank's future, stating that 2023 is poised to be another landmark year based on their current figures.

Corporate Social Responsibility:

In 2022, the bank undertook various corporate social responsibilities, including donating air conditioners to the Municipal Hospital and supporting the Farmers Day celebration in the Keta and Anloga Districts.

Bank Profile

The Anlo Rural Bank is a leading domestic bank in the region, headquartered at Anloga, with branches at Dzelukope and Abor.

It offers a range of commercial services, including trade loans, agricultural loans, transport loans, school loans, church loans, “Dzidedi” loans, and microfinance or group loans, in addition to other services like “susu” collections.

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