Amansie Rural Bank posts GH₵11.6m pre-tax profit, as shareholders receive 5% dividend

Amansie Rural Bank in Ghana's Ashanti Region has announced a 5% dividend return to shareholders following a profit surge post-Domestic Debt Exchange Programme (DDEP).

After a three-year dividend halt due to regulatory restrictions, the bank will disburse around 1.8 million cedis, equivalent to GH¢0.050 per share, by November 4, 2024.

For the 2023 fiscal year, Amansie achieved a 90% profit increase, reaching 11.66 million cedis.

Deposit growth also rose by 43.2%, attributed to strategic cost management and increased income. CEO Frederick Kyei Kwakye emphasized adaptive strategies in response to the DDEP's challenges, supporting future financial stability.