Amenfiman Rural Bank will make history if it can achieve its target of one billion cedis in deposit mobilization.

The Bank closed 2023 with a customer deposit of 780 million cedis, a basis for the hike increase in the target for this year.

To achieve the target, the bank is focused on the expansion of its client base while supporting clients to improve their operations.

Chief Executive Officer, Dr. Alexander Asmah explains, “we expand the number of clients that work with us and then we make sure that we do more with the customer”.

The Amenfiman Rural Bank has consistently recorded an increase in revenue mobilization over the years.

From 401 million cedis in 2021, there was significant growth in revenue mobilization to 557 million cedis in 2022.

A significant rise of 225 million cedis was recorded by the close of 2023, leading to the one billion target setting.

The private sector consisting mainly of Micro Small and Medium Enterprises are faced with difficulties in securing funding for expansion.

Dr. Asmah explains the Bank’s support to the sector.

“The attention to the private sector has to be deliberate. For us in the financial sector, the key thing we are managing is risk because the fund that you are lending to them is not your funds. We have come to realize that when you sit down with the clients and you understand them you can measure the risk better”, he emphasized.

Meanwhile, the Amenfiman Rural Bank is deepening its presence in the Ashanti Region by establishing a new branch in the Central Business District of Kumasi.

Board Chairman, Dr. Tony Aubynn explains the need for all four branches in the Ashanti Region despite the bank’s roots in the Western Region.