24th RCBs CEOs Conference: Rural Banks record unprecedented 117% profit growth

By Seth KRAMPAH

In a resounding testament to resilience and innovation, Rural and Community Banks (RCBs) have posted remarkable financial results for the first half of 2025, signaling a new era of growth and digital empowerment.

Speaking at the 24th Annual National Conference of Chief Executive Officers of RCBs and ARB Apex Bank, held at the Western Serene Atlantic Hotel in Takoradi, the Managing Director of ARB Apex Bank, Alex Kwasi Awuah, announced a 117% year-on-year surge in Profit Before Tax, reaching 783.0 million compared to GH¢361.0 million in June 2024.

The conference, themed “Bridging the Gap: Empowering Rural Banking in a Digital Economy,” brought together industry leaders to reflect on the sector’s journey and chart a forward-looking strategy for inclusive financial growth.

Mr. Awuah, addressing the gathering, described the performance as “an impressive recovery” following years of turbulence caused by financial sector reforms, the COVID-19 pandemic, and the Domestic Debt Exchange Programme (DDEP).

The MD declared that providence, hard work, and effective decision-making have brought rural and community banks to their present state emphasizing that most RCBs are not just surviving but are thriving.

Strong Financial Indicators

The Managing Director highlighted several key indicators that underscore the sector’s resurgence. Total assets of the RCB sub-sector reached GH¢21.2 billion, with deposits going up to GH¢18.2 billion. Profit Before Tax soared to GH¢783.0 million, marking a 117% increase. Capital Adequacy Ratio (CAR) improved from a precarious 9.85% in December 2021 to a robust 18.95%.

These figures, Mr. Awuah noted, reflect the sector’s growing stability and its readiness to embrace digital transformation as a catalyst for deeper financial inclusion.

Digital Inclusion: The Numbers Game

Building on last year’s theme“ Positioning Rural Banking at the Centre of the National Financial Inclusion Agenda”—this year’s conference emphasized the strategic importance of digital tools in expanding access to financial services. Mr. Awuah described digital inclusion as “a numbers game,” stressing that the more customers RCBs reach and onboard, the more sustainable and relevant they become.

“Our digital journey has been focused on one clear goal: expanding access and ensuring that no one is left behind,” he said.

Among the milestones shared were the deployment of 773 Point-of-Sale (PoS) devices as in-branch Teller Agents, enabling interoperability across RCBs. Establishment of 1,158 Third Party Agents to complement the existing 850 physical branches. Rollout of 1,668 PoS devices for Susu mobilization, enhancing deposit collection and reducing fraud and onboarding of 186,915 customers onto the *992# RCB Mobile USSD platform, offering services such as fund transfers, bill payments, and mobile wallet integration as well as the  launch of a new Internet Banking platform, positioning rural banks as competitive players in Ghana’s modern financial ecosystem.

“These achievements speak directly to the hunger for accessible, affordable, and secure financial solutions in our communities,” Mr. Awuah said.

Call to Action: Driving Inclusion Through Scale

While celebrating the sector’s progress, Mr. Awuah issued a rallying call to CEOs of RCBs to intensify efforts in customer acquisition and transaction growth. He emphasized that the sustainability of digital investments hinges on scale.

“The only way we can cover the costs associated with these investments is by signing up more customers and driving more transactions,” he urged. “Every customer we sign up, every agent we empower, every digital channel we activate brings us one step closer to bridging the gap in access to financial services.”

He assured stakeholders of ARB Apex Bank’s unwavering commitment to strengthening collaboration, improving business processes, and enhancing service delivery.

“When our systems work better, our customers experience greater trust, convenience, and satisfaction,” he added.

Balancing Technology with Human Connection

In his concluding remarks, Mr. Awuah reminded delegates that while the future of banking is digital, it must remain relational. He called on RCBs to engage, educate, and walk with customers through the digital transition.

“Let us not forget the human element,” he said. “This is how we will not only bridge the gap but also empower rural banking to thrive in the digital economy.”

He encouraged full participation in the conference’s packed programme, designed to equip CEOs with insights and tools to drive transformation.

A Turning Point for Rural Finance

The 24th Annual CEOs’ Conference marks a pivotal moment in Ghana’s rural banking narrative. With digital infrastructure expanding and financial indicators soaring, the sector is poised to play a central role in the country’s financial inclusion agenda saying that the 24^th Conference is another turning point in their collective journey.

For stakeholders, policymakers, and customers alike, the message is clear: rural banking is no longer on the periphery it is at the heart of Ghana’s digital financial future.

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