By Yaaba Yamikeh, Esiama
The management of Ankobra West Rural Bank PLC, located in Ghana’s Western Region, has been encouraged to build on its recent success by developing specialized financial products for underserved segments, including Small and Medium Enterprises (SMEs), farmers, women entrepreneurs, and the youth.
Speaking at the bank’s 33rd Annual General Meeting in Esiama, Mr. Alex Kwasi Awuah, Managing Director of ARB Apex Bank, highlighted the importance of these groups in driving rural economic growth.
“These segments are a powerful force in the rural economy, and the bank must leave no stone unturned in attracting them with products tailored to their needs,” Mr. Awuah said.
Focus on Sustainability and Innovation
While commending the bank’s strong performance over the past year, Mr. Awuah stressed the need for continuous innovation, especially in sustainability and digital transformation. He urged management to accelerate its adoption of digital platforms, mobile banking, and paperless services.
“By reducing manual processes, you can cut operational costs, enhance customer experience, and appeal to younger clients,” he noted.
He also emphasized the importance of strengthening the bank’s loan monitoring and recovery systems to ensure long-term sustainability.
Maintaining Financial Discipline
Mr. Awuah applauded the bank for maintaining a low non-performing loan (NPL) rate of 1.87 percent, calling it a sign of prudent financial management. He pointed out that despite the challenges posed by the Domestic Debt Exchange Programme, the bank has emerged resilient and is positioning itself as a strong player in the rural banking sector.
However, he advised the bank to reduce its reliance on government securities, which are vulnerable to economic shocks, and instead focus on quality assets and well-structured loan portfolios.
“Control your costs wisely, grow your fee-based income, and continue publishing sustainability reports. These efforts will enhance your brand reputation, attract impact investors, and support profitability,” Mr. Awuah advised.
Support from ARB Apex Bank
As the umbrella body for rural and community banks in Ghana, ARB Apex Bank, according to Mr. Awuah, stands ready to provide Ankobra West Rural Bank with technical support, training, and shared services to help the institution achieve greater success.
