Anum Rural Bank Expands Operations with New Branch in Asutuare

Anum Rural Bank Limited has officially expanded its operational footprint following the commissioning of a new branch in Asutuare, located in the Shai Osudoku District of the Greater Accra Region.

The expansion comes on the back of strong financial growth, as highlighted by the bank’s leadership during the inauguration ceremony last Thursday.

Addressing attendees at the launch, Board Chairman Mr. Daniel Adu Appea reported that as of December 2019, the bank had recorded a Capital Adequacy Ratio of 20.16 percent, which is more than double the Bank of Ghana’s regulatory minimum of 10 percent.

The institution’s financial performance was supported by several key metrics as of late 2019:

Stated Capital: GH₵1,956,043.64 (against the regulatory threshold of GH₵1,000,000.00)
Total Assets: GH₵37,069,376.48
Net Worth: GH₵6,914,577.90

According to Mr. Appea, the establishment of the Asutuare agency will enable the bank to identify new growth opportunities, introduce tailored financial products, and build stronger relationships within the local community.

Founded in April 1981, Anum Rural Bank now operates eight agencies across three regions:

Eastern Region: Anum, Akosombo, and Atimpoku
Volta Region: Peki, Juapong, and Dzemeni
Greater Accra Region: Asutuare and Afienya

The bank also maintains three mobilization centers located at Peki Dzake (Volta Region), Boso (Eastern Region), and Asikumah (Volta Region).

Mr. Appea emphasized that the bank is positioned to offer a wide range of services designed to meet diverse customer needs, including savings and current accounts, Susu accounts, fixed deposits, Treasury bills, microfinance facilities, ACH, e-zwich, and U-connect services.

Speaking on behalf of ARB Apex Bank, Nana Seth Frimpong confirmed that Anum Rural Bank has fully satisfied all regulatory requirements of the Bank of Ghana, describing it as “one of the best banks in the region.”

He reassured customers that rural banks across the country remain in good standing and are actively collaborating to ensure the safety of all public deposits.

In his solidarity message, the acting Chief of Asutuare, Nene Tettey Ekpa IV, welcomed the new branch and urged local residents to honor their loan obligations to support the bank’s long-term sustainability in the area.

The event was attended by key traditional leaders and board members, including:

Traditional Authorities: Nene Teye Titriku (Akusematse and Suapolor of Osudoku Traditional Area), Nene Tettey Ekpa IV (Acting Chief of Asutuare), Nene Narh Ankrah II (Sub-chief of Gbese Terkworsi), and Nana Dugbakie Nyanya II (Queen Mother of Tsangme).
Board Members: Mr. Samuel Yao Katsekpor (Vice Board Chairman), Mr. Nathaniel Afunya (Board Secretary), alongside board members Mr. Martin Adu-Owusu, Mr. Christian K. Ani-Frimpong, Mr. Edwin Kwabena Adjei, and Mr. Eric Baadu Agyeman.

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Anum Rural Bank Expands Operations with New Branch in Asutuare