‎Adonteng Community Bank PLC celebrates strong financial performance at 27th AGM

Correspondence from the Eastern region

‎Adonteng Community Bank PLC shareholders gathered this past weekend at the New Tafo Presby Hall for the bank's highly anticipated 27th Annual General Meeting (AGM).

The event, a key forum for financial review and strategic discussion, was attended by the bank's Board of Directors, esteemed representatives from ARB Apex Bank, the Eastern Regional Chapter of the Association of Rural Banks, dedicated staff, and its valued shareholders.

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‎The AGM provided a crucial platform for the bank to present its financial performance and account for its stewardship to its owners.

Addressing the media, the Chairman of the Board of Directors, Kodwo Osafo Binfo, emphasised the significance of the annual gathering.

"This meeting is vital," stated Kodwo Binfo.

"It's our opportunity to transparently discuss our achievements, challenges, and future aspirations with the very people who have invested their confidence and capital in Adonteng Community Bank."

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‎Kodwo Binfo further highlighted the bank's robust performance throughout the 2024 financial year, announcing impressive growth across all key indicators.

Shareholders were presented with compelling figures demonstrating the bank's upward trajectory. Notably, Profit After Tax saw a remarkable surge of 76%, climbing from GHS 2,885,517 in 2023 to GHS 5,090,234 in 2024.

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‎The bank's asset base also experienced substantial expansion, with Total Assets growing by an impressive 53.12%, escalating from GHS 55,966,064 in 2023 to GHS 85,693,285 in 2024.

Complementing this growth, Total Deposits witnessed a significant increase of 50.75%, rising from GHS 46,654,661 in 2023 to GHS 70,330,769 in the past financial year.

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‎The positive financial report was met with widespread enthusiasm from the shareholders.

Many expressed their sincere gratitude to the management and staff for their diligent efforts and commitment, which have underpinned the bank's strong growth.

Demonstrating their unwavering support and belief in the bank's potential, several shareholders pledged to increase their investment by purchasing additional shares.

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‎The success of the 27th AGM underscores Adonteng Community Bank PLC's commitment to transparency, strong financial management, and its dedication to serving the needs of its community and shareholders.

The impressive performance figures signal a promising future for the bank as it continues to build on its recent successes.