The Lower Pra Rural Bank PLC in the Western Region has climaxed its 40th anniversary in a colourful event on Saturday, September 2, 2023.
The event that took place at the Headquarters of the bank in Shama in the Shama District brought together all key stakeholders and some dignitaries in the region to celebrate the milestone.
The bank, established in the year 1983 hasn’t had a smooth ride according to its history but through hard work and perseverance, they have grown to become one of the best and largest rural bank in Ghana.
Lower Pra Rural Bank PLC, formerly known as Essemaman Rural Bank Limited was incorporated in Ghana on the 20th of January 1983 and got the license to operate the business of banking in August 31, 1983, as the 66th RCB in Ghana.
The bank can now boast 17 branches across the length and breadth of the Western Region since its inception and has also been honoured with numerous awards for its services.
Speaking at the event, the Chief Executive Officer (CEO) of the bank, Mr. Isaac Kwamina Afful said the bank as a financial intermediary is in contact with the catchment area to mobile all available funds into the banking streams depicted by the amount mobilised. He said deposits as of August 31, 2023 amounted to 214,931,462.45.
Mr Kwamina Afful said customer durbars continue to be held in every rural community to bring banking to the doorstep of the rural and urban dwellers which has significantly reduced monies kept in the house in the rural community with its attendant theft and fire causing so much harm to rural and urban dwellers.
He said, “Currently Rural and Urban dwellers are comfortable doing business with Lower Pra Rural Bank PLC: The Bank has also taken a keen interest in the payment of salaries by the Government and other organisations to its numerous salary customers. The presence of Lower Pra Rural Bank as a financial intermediary has made it comfortable for wary customers especially Rural and Urban Dwellers to withdraw cash from their salaries with ease. The risk of travelling long distances to cash cheque or make a payment has been eliminated, the bank has now established itself in the E-banking product and has become the most preferred bank in its catchment area.”
The Deputy Managing Director of ARB APEX Bank Mr Curtis W. Brantuo speaking at the event said Lower Pra Rural Bank has become a shining light in the rural banking industry.
The bank has been efficiently run and remains profitable over the years. Even in the face of the many economic challenges confronting the nation and businesses, Lower Pra Rural Bank has remained one of the leading rural banks in the country.
He said this is a testimony that with the right structures in place and efficient strategies by the Directors, Management and Staff and the required support from Shareholders and the communities, rural and community banks can grow and become sustainable.
“In this light, we wish to call on the current Shareholders and citizens of Shama, both home and abroad, to purchase additional shares in the bank to help shore up the capital base of the bank to help the bank first, to undertake more big ticket financial intermediation projects, and second, to support micro, small and medium enterprises and individuals engaged in productive sectors of the local economy of Shama and the surrounding towns and villages,” he added.