The Kwabre Area Community Bank PLC has reported a profit before tax of GH¢2,922,817 for the two-year period of 2024 and 2025. This impressive financial performance was disclosed by the chairman of the Board of the bank, Ing. Louis Kwakye, at the 6th Annual General Meeting of the bank held at Kodie in the Afigya Kwabre South Municipality. The bank's profit was comprised of GH¢1,643,450 in 2024 and GH¢1,279,367 in 2025.
The bank's financial performance also showed significant growth in cash and bank balances, which increased from GH¢1,864,090 in 2024 to GH¢4,545,014 in 2025, representing a 143.8% increase. This growth in cash and bank balances was a notable achievement for the bank, according to Ing. Kwakye. The bank's total assets also saw a substantial increase, rising from GH¢15,183,300 in 2024 to GH¢24,609,914 in 2025.
The bank's deposits also experienced significant growth, increasing from GH¢13,147,734 in 2024 to GH¢20,752,496 in 2025, representing an increase of GH¢7,604,752 or 57.8%. Ing. Kwakye attributed the bank's impressive performance to the resilience and potential of the bank. He, however, noted that the bank faces major challenges, including capitalisation, profitability, and loan recovery in the private sector.
Despite the challenges, Ing. Kwakye assured that the Board and management remain committed to addressing them and positioning the bank for sustainable growth. The bank aims to provide convenient and reliable banking services while creating long-term value for its shareholders, customers, and stakeholders. The chairman commended the management and staff of the bank for their efforts in deposit mobilisation.
Ing. Kwakye also encouraged shareholders to increase their shareholding and support the bank's capitalisation efforts for sustainable growth, in compliance with the new regulatory capital requirement of the Bank of Ghana. The bank's growth and performance are significant, given its role in serving the local community and contributing to Ghana's financial sector.
The Kwabre Area Community Bank PLC's achievement is a testament to the potential of community banks in Ghana. The bank's growth in assets, deposits, and profit demonstrates its ability to serve its customers effectively while contributing to the country's economic development. The bank's commitment to addressing its challenges and positioning for sustainable growth is crucial for its long-term success.
The bank's Annual General Meeting provided a platform for stakeholders to engage with the bank's leadership and discuss its performance and future plans. The event was attended by shareholders, customers, and other stakeholders who are interested in the bank's growth and success. The bank's leadership is focused on building on its achievements and addressing its challenges to ensure sustainable growth and long-term success.
Key points
- The Kwabre Area Community Bank PLC recorded a profit before tax of GH¢2,922,817 in 2024 and 2025.
- The bank's cash and bank balances increased by 143.8% from GH¢1,864,090 in 2024 to GH¢4,545,014 in 2025.
- The bank's total assets and deposits also saw significant increases, rising by 62.1% and 57.8%, respectively.
