Takoradi: Ms. Felicia Aba Dawood, the Board Chairperson of the Lower Pra Rural Bank, announced that the bank achieved a substantial profit in 2024 despite facing challenges and uncertainties during the first half of the year. She highlighted the bank’s commitment to revenue growth, profitability, and operational excellence as key factors guiding their mission.

According to Ghana News Agency, the bank recorded a profit after tax of 14,906,272, with deposits totaling 333,628,343, and advanced an amount of 104,920,594 to customers. These figures represent a significant achievement compared to the previous year. Ms. Dawood made these remarks during the 37th annual general meeting of the bank, attributing the strong performance to prudent management decisions and the board’s dedication to corporate governance, ethical standards, and best business practices.

Ms. Dawood emphasized that the bank avoided investments in instruments affected by the Debt Exchange Programme, maintaining a focus on prudent financial management to provide relief to shareholders. She also stated the bank’s intention to leverage strategic alliances and partnerships to drive profitability and ensure long-term growth.

The board recommended a dividend of Gh0.30 per share for 2024. Mr. Ernest Nii Tackie-Otoo, the Chief Executive Officer of the bank, outlined the bank’s strategic priorities, which include customer-centered transformation, expanded loans and deposits, enhanced operational efficiency, and a reduced cost-to-income ratio. He also committed to investing in talent and leadership development while strengthening environmental, social, and governance initiatives.