Lower Pra Rural Bank has posted its highest-ever profit after tax, signaling strong resilience and strategic discipline despite economic headwinds in 2024. The bank recorded a profit of GHS14.9 million, deposits totaling GHS333.6 million, and customer loans amounting to over GHS104.9 million.
Board Chairperson Ms. Felicia Aba Dawood, speaking at the bank’s 37th Annual General Meeting, credited the stellar performance to robust corporate governance, ethical standards, and management’s focus on operational excellence and revenue growth.
“We are happy to report an unprecedented achievement,” she stated, emphasizing that the bank’s avoidance of risky investments—particularly those affected by the government’s Debt Exchange Programme—helped protect shareholder value.
In recognition of the strong performance, the Board has proposed a dividend payout of GHS0.30 per share for 2024.
Looking ahead, Ms. Dawood said the bank will pursue strategic partnerships to boost long-term growth and profitability.
Chief Executive Officer Mr. Ernest Nii Tackie-Otoo outlined key priorities for the coming year, including customer-centered transformation, expanded lending and deposits, improved operational efficiency, and a lower cost-to-income ratio. He also pledged to invest in talent development and strengthen the bank’s environmental, social, and governance (ESG) initiatives.
The bank’s performance stands as a testament to strong leadership and disciplined financial management in Ghana’s rural banking sector.
