By J. K Nabary
Breman Asikuma (C/R), June 15, GNA-Odeefo Amoakwa Buadu VIII, President of the Central Regional House of Chiefs, has advocated for community banks to meet the needs of stakeholders and shareholders in accordance with the law.
“By successfully satisfying their varied demands, it will definitely go a long way for the bank to attract others to join and contribute their quota towards its total growth.”
Odeefo Buadu VIII, the Paramount Chief of Breman Asikuma Traditional Area, made the call as the guest speaker at the 40th stakeholders’ engagement of the Brakwa Breman Community Bank at Breman Asikuma.
The engagement under the theme: “Together, we build a stronger community,” deliberated on how to generate funds to meet the minimum paid-up capital requirement directed by the Bank of Ghana for all existing Community Banks.
It also gave opportunity for the Board of Directors of the bank to account of their stewardship for the year under review.
Odeefo Buadu who is also a shareholder of the bank, said it was the expectation of shareholders for sustainable financial returns, accessible interest rate, financial literacy programmes and personalisation local banking services among others for the capital growth and sound corporate governance to ensure the bank’s long-term viability.
He said the meeting was a wake-up call to the Board of Director and Management to address the needs of the members successfully to boost their moral to invest more.
He stated that Brakwa Breman Community Bank PLC had for 40 years, continuously supported members in various areas and it would be painful to wake-up on December 31, 2026, to hear that it had collapsed or been merged with another bank for failing to meet the mandatory threshold within the stipulated regulatory timeline.
“Brakwa Breman Community Bank is what we own, so let us as stakeholders and shareholders, contribute our quota to supplement efforts by the Directors and the Managers to ensure full compliance before the deadline.”
Odeefo Buadu commended the Directors and management of the bank for working harder to achieve growth across all the key indicators and prayed for a stronger community to be built.
Mr Felix Owiredu Aidoo, the Board Chairman of the Bank, said in his report that the year under review was marked with significant regulatory reforms within Ghana’s microfinance sector by the Bank of Ghana which included the minimum five million Ghana Cedis by the end of 2026.
He assured that the Board and Management remained fully committed to executing strategies with urgency and discipline to ensure successful recapitalisation of the bank and to position it strongly under the new regulatory framework.
Highlighting on the performance of the bank for 2025, Mr Aidoo disclosed that their financial results showed strong growth across all the indicators with total assets increasing by 38 percent from GHc54, 72 million in 2024 to GHc75.52 million in 2025 while deposit grew by 37.68 percent from GHc47, 536,081 in 2024 to GHc65, 449,373 in 2025.
On Loans and Advances, he said a total of GHC32, 721,736 representing 56.67 percent loans was given out, compared to GHc200, 885,167 in 2024, while capital increased from GHc1, 197,221 in 2024 to GHc1, 769,741 in 2025 representing 47.82 percent.
Also, their total investment increased from GHc15, 059,753 in 2024 to GHc16, 802,386 in 2025 representing 11.57 percent.
Mr Aidoo informed the house that the Net Worth of the bank grew from GHc3,581,589 in 204 to GHc5,546,431 in 2025 representing 54.86 percent, total income increased from GHc11,011,346 in 2024 to GHc15,720,136 representing 42.75 percent.
He stated that profit before tax was more than doubled, increasing by 119.87 percent from GHc1.08 million in 2024 to GHc2,37 million in 2025.
As part of their Corporate Social Responsibility, an amount of GHc80,819.00 was used to support the Police Service, Health, Education, Infrastructure, Festivals, Churches and Traditional Councils across their catchment area.
“I thank you for your unwavering support and invite you to continue partnering with us as we build a stronger and more impactful institution,” he added.
After lengthy deliberation on the regulatory reforms by the Bank of Ghana, and the report by the Chairman of the Board, the house assured the board and management of their support at meeting the dead line for regulatory compliances and also tasked them to address their problems and needs.
The meeting was graced by members of ARB Central Regional Chapter, ARB APEX Bank PLC, sister community banks and traditional leaders from their catchment area.
GNA
Edited by Alice Tettey/Kenneth Odeng Adade