Community banks have been encouraged to take full advantage of ongoing regulatory reforms in Ghana’s microfinance sector to strengthen their operations, deepen financial inclusion and contribute more effectively to local economic development.
The call was made by the Sunyani Regional Manager of ARB Apex Bank, Ms Susan Boateng, at the 40th Annual General Meeting of Kintampo Community Bank PLC held in Kintampo in the Bono East Region.
She said the reforms being implemented by the Bank of Ghana were intended to strengthen the rural and community banking sector through improved corporate governance, enhanced resilience and greater institutional sustainability.
According to Ms Boateng, one of the major changes under the revised Microfinance Sector Framework is the transition from the traditional “Rural Bank” designation to “Community Bank,” a move she said reflects a broader vision for growth, accountability and stronger engagement with local communities.
She noted that the change presents an opportunity for community banks to expand their services, improve customer engagement and play a greater role in promoting financial inclusion across underserved areas.
Ms Boateng commended Kintampo Community Bank PLC for embracing the transition, describing the move as a strategic step that would position the bank for future growth while strengthening its contribution to economic empowerment within its catchment area.
She also highlighted the Bank of Ghana’s decision to raise the minimum stated capital requirement for Rural and Community Banks from GH¢1 million to GH¢5 million, explaining that the measure is aimed at enhancing the sector’s capacity to withstand economic shocks, support expansion and boost depositor confidence.
According to her, institutions that proactively strengthen their capital base will be better positioned to finance critical sectors of the economy, including agriculture, small and medium-sized enterprises (SMEs), women-led businesses and youth entrepreneurship initiatives.
Ms Boateng welcomed Kintampo Community Bank’s efforts to improve its capital position through the capitalization of income surplus and the issuance of bonus shares, describing the initiative as evidence of prudent management and commitment to regulatory compliance.
She further urged community banks to accelerate investments in digital transformation, cybersecurity and customer service, stressing that technology would be critical to maintaining competitiveness in the evolving financial services industry.
“Banks that leverage technology, build customer trust and maintain strong governance structures will remain relevant and competitive in the evolving financial services landscape,” she said.
She also called on bank management teams to prioritize staff development, strengthen risk management systems and expand financial inclusion programmes to reach more individuals and businesses.
Meanwhile, the Board Chairman of Kintampo Community Bank PLC, Nana Owusu Gyare II, announced that the bank recorded strong growth across key financial indicators during the 2025 financial year.
He disclosed that profit after tax increased to GH¢10.29 million in 2025 from GH¢9.68 million in 2024, reflecting improved profitability and operational performance.
The bank’s total assets also grew by 41.71 per cent to GH¢185.73 million during the period under review, while total deposits rose to GH¢141.35 million.
Nana Owusu Gyare II attributed the growth in deposits to increasing customer confidence in the bank’s services and operations.
He expressed optimism about the bank’s future prospects and reaffirmed the commitment of the board and management to strengthening the institution’s capital base, expanding its service offerings and delivering sustainable value to shareholders, customers and the communities it serves.
The AGM provided an opportunity for shareholders to review the bank’s performance and discuss strategies for sustaining growth amid ongoing reforms in Ghana’s financial sector.
