The Chief Executive Officer of Sefwiman Rural Bank PLC, RICHARD KWAME AGYEI has disclosed that the bank is robust and highly recognized in the rural banking sector in Ghana.
He stated this in an interview with pressmen during the bank’s Annual General Meeting held on Saturday 23rd August at CAC Central auditorium, Bibiani, to account to their shareholders where he disclosed that the bank’s total asset as at 2023 was a little over GH₵ 83 million but there was a growth of 94% in 2024 with GH₵ 162.4 million as at December 31. Total deposits by customers was GH₵ 71 million in 2023 but surged to GH₵ 144.1 million which represents 103% increase by December 2024.
He added that, investments also rose by 124% with monetary value of GH₵ 115.1 million in 2024 as against GH₵ 51 million in 2023, he said, adding that there are massive growth in all the key performance indicators positioning Sefwiman Rural Bank as a solid and recognisable player among rural banks in the country.
He further cited that ARB APEX bank and Bank of Ghana rank Sefwiman Rural Bank PLC among the strongest rural banks in Ghana therefore, he urge individuals to bank with them assuring them their deposits are safe. He added that SRB gives collateral-free loans to its customers to support their businesses.
Mr Agyei beseeched government to reduce the cooperate tax for the rural banks in order to render more of cooperate social responsibilities to communities. “Previously, our tax rate was just ten percent but today we pay 25% of cooperate tax”, he revealed.
Another challenge he mentioned was poor network connectivity which affects their digital operations.
Story by: AKUAPEMHANN KWAME OMONO ASAMOAH
