Akatsi: The Avenor Community Bank PLC is ambitiously aiming to achieve a minimum stated capital of GHS5 million by December 2026 as part of its strategy to bolster its financial position and comply with updated regulatory requirements. This goal, if accomplished, would empower the Bank to explore new business ventures, support sustainable growth, and enhance long-term shareholder returns.
According to Ghana News Agency, Mr. Thomas Clarkson Adade, the Board Chairman, unveiled these plans during his Chairman's Report at the Bank's 43rd Annual General Meeting held in Akatsi. He highlighted that the Bank is actively taking steps to strengthen its capital base, with a clear plan laid out to meet the new minimum stated capital requirement.
The Bank is also focusing on increasing shareholder participation and other approved capitalization measures to solidify its capital position. Mr. Adade expressed optimism about the Bank's future, emphasizing a commitment to strengthening corporate governance, risk management, and compliance frameworks. Additionally, the Bank plans to enhance service delivery and operational efficiency while expanding its instant microfinance loan product into new regions.
Furthermore, Mr. Adade mentioned the Bank's intent to boost support for small and medium-scale enterprises, aligning with its strategy to deepen financial inclusion and stimulate local economic activity. The Bank's 2025 financial performance showed a notable improvement, with a 9.79 percent increase in profit before tax, reaching GHS2.99 million. Total assets surged by 31.08 percent to GHS60.08 million, while customer deposits grew by 38.37 percent to GHS44.80 million. Loans and advances also saw a rise, increasing by 17.93 percent to GHS18.99 million.
Mr. Daniel Dagba, the Municipal Chief Executive for Akatsi South, who spoke as the Guest Speaker, praised the Bank for its achievements and encouraged the Board and Management to combine financial growth with initiatives that positively impact local residents' welfare. He assured that the Assembly is committed to collaborating with the Bank to promote local enterprise, agriculture, youth empowerment, and community development.