C/R:Microfin Rural Bank Records 135% Profit Growth, Shareholders Urged to Repay Loans

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Kasoa, Central Region – Microfin Rural Bank has recorded a remarkable 135.10% profit growth, with deposits surging from GH¢17.6 million in 2023 to GH¢25.4 million in 2024, reflecting a 43.97% increase. This achievement was announced at the bank’s 12th Annual General Meeting (AGM) held at the Kasoa Akweley Credit Union Training Center in the Central Region.


Speaking on behalf of the Board of Directors, Alhaji Yusif Twumasi attributed the bank’s positive performance to prudent financial management and effective loan recovery strategies. He expressed confidence that the bank is on track to maintain operational efficiency and deliver greater value to its shareholders.

"The performance this year demonstrates that Microfin Rural Bank is a performing institution. The Board and Management are committed to sustaining this momentum to end the year strong," he emphasized.



Also addressing the meeting, Mr Ebenezer Kwao Ahene-Larbie, Vice President of the Central Regional Chapter of the Association of Rural Banks, commended the Board, Management, and staff of Microfin for their dedication to service delivery in their operational areas. He urged them to uphold good corporate governance and maintain high standards in customer service and relationship management.


"Microfin's performance is an inspiration to other rural banks and should be used as a benchmark for excellence," Mr. Ahene-Larbie stated.




Some shareholders praised the Management and Board for implementing effective measures to recover loans from defaulters, a move they say has helped improve the bank's financial standing. They also called on fellow shareholders with outstanding loan obligations to repay promptly to allow others to benefit from the bank’s loan facilities.


“Let us not rest on our achievements. Every shareholder has a role to play in safeguarding the future of this bank,” one shareholder remarked.



The meeting closed with renewed commitment from all stakeholders to ensure the continued growth and sustainability of Microfin Rural Bank.

Credit: Janet Kwakye 

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