Ankobra West Community Bank increased its profit before tax by 18.21 percent to GHS 7.54 million in 2025. This marks a rise from GHS 6.38 million reported in 2024. The bank also achieved substantial growth in deposits and net advances during the same period.
Deposits at the bank grew by 38.15 percent, reaching GHS 107.37 million in 2025, up from GHS 77.72 million in 2024. Net advances, representing loans given out, surged by 208.72 percent from GHS 21.68 million in 2024 to GHS 66.96 million in 2025. This growth signals increased support for businesses and productive sectors within the bank’s operating area.
This impressive performance by Ankobra West Community Bank contributes positively to Ghana's regional banking sector. Rural and Community Banks are essential for financial inclusion and local economic development. Their robust health is crucial for distributing credit to small and medium-sized enterprises (SMEs) and individuals in underserved communities. Increased lending activities by such banks can stimulate local economies and create employment opportunities.
Dr. Frank Boateng, Board Chairman of Ankobra West Community Bank, announced these results at the bank's 34th Annual General Meeting at Esiama. He attributed the growth to increased customer confidence, strong deposit mobilisation, and expanded lending. Dr. Boateng highlighted a key achievement: stated capital increased by 310.26 percent from GHS 1.33 million in 2024 to GHS 5.46 million in 2025. This increase enabled the bank to meet the Bank of Ghana’s (BoG) revised minimum capital requirement for Community Banks ahead of schedule.
The bank's Capital Adequacy Ratio (CAR) stands at 19 percent, well above the regulatory threshold. A strong CAR indicates that a bank has enough capital to absorb potential losses, making it more resilient to financial shocks. The bank also invested GHS 415,297 in Corporate Social Responsibility initiatives covering education, healthcare, and traditional authorities. This commitment reflects their business philosophy of linking success to community well-being.
Looking ahead, the bank plans to expand its physical footprint. It has submitted applications to the Bank of Ghana for approval to open five new branches. This expansion will increase its network from four to nine branches. This move aims to improve financial service access in underserved communities. Shareholders will also receive a proposed dividend payment of GHS 500,000, while the bank retains adequate capital for future growth and regulatory compliance.
Solomon Amankwa, Executive Director of the Association of Community Banks (ACB) Ghana, commended Ankobra West Community Bank. He praised its strong financial performance, attributing it to sound governance, prudent leadership, and operational efficiency. Amankwa urged all Community Banks to enhance corporate governance, risk management, and regulatory compliance. This is critical as the sector undergoes reforms to boost financial stability and inclusion. Ghana's Rural and Community Banking sector will celebrate 50 years in 2026, marking a significant milestone in its history.