The Asawinso Community Bank PLC has initiated a scholarship scheme aimed at supporting the children of shareholders within its operational areas. This move is designed to provide financial assistance to brilliant but needy children of shareholders, enabling them to pursue their educational goals. The bank's Chairman, Mr. Anokye Asare, announced this at the bank's 40th Annual General Meeting (AGM) in Sefwi Asawinso.
The AGM, held under the theme "Sustainability and Growth," also saw Mr. Asare disclose the bank's impressive performance over the past year. The bank recorded significant improvements in profitability, financial strength, and shareholder value. Notably, it transformed from a loss-making institution into a stronger organization. Key to this transformation was a 211 percent increase in profit before tax, which rose to GH¢5,746,845 from the previous year's GH¢1,847,716.
According to Mr. Asare, the bank's growth in profitability can be attributed to its focus on revenue enhancement, prudent cost management, operational efficiency, and effective financial management. These measures not only improved profitability but also contributed to a 34 percent growth in total assets, reflecting an expansion in the bank's financial capacity and overall business operations.
Over the past three years, the bank has demonstrated remarkable growth in its financial position. Total assets increased from GH¢55,252,636 in 2023 to GH¢158,666,762 in 2025, representing approximately 187 percent growth. Additionally, customer deposits grew from GH¢55,321,534 in 2023 to GH¢153,409,679 in 2025, an increase of about 177 percent. This growth in customer deposits reflects increasing confidence in the bank and the effectiveness of its deposit mobilization strategies.
The bank's strong performance and transformation have earned it significant local and international recognition. The bank, along with its Chief Executive Officer (CEO), Mr. Kwasi Ameyaw, received several awards for financial performance, leadership, innovation, and contribution to the rural and community banking sector. These recognitions include the Most Outstanding in Rural and Community Banking Services Award and the Rural Bank of the Year 2026.
Mr. Kwasi Ameyaw attributed the bank's prudent financial performance to the hard work, dedication, and determination of its management and staff. He also commended shareholders and other stakeholders for their contributions towards increasing their shareholdings, helping the bank meet the Bank of Ghana's new minimum capital requirement of GH¢5 million by December 31, 2026.
Looking forward, Mr. Ameyaw appealed to cocoa farmers, traders, business owners, and individuals to transact business with Asawinso Community Bank PLC, taking advantage of its various products and services. He assured customers and prospective clients of the bank's commitment to providing reliable and quality banking services to support their financial and business needs.
Key points
- The bank's profit before tax increased by 211 percent to GH¢5,746,845.
- Total assets grew by 187 percent to GH¢158,666,762 in 2025.
- The bank introduced a scholarship scheme for children of shareholders to support their educational aspirations.
