Maltaaba Community Bank has been lauded by ARB Apex Bank for its outstanding financial performance at its 12th Annual General Meeting (AGM), held on Saturday, May 17, 2025.
The event took place at the forecourt of the bank in Bongo, Upper East Region, with a host of stakeholders in attendance. The AGM reviewed the financial year ending December 31, 2024.
The Bank’s balance sheet grew by 89% over the review period to GHS53.5 million; fueled by deposit growth of 95% from GHS24.6 million to GHS48 million and 55% growth in shareholder fund.
Additionally, loans and advances surged by 16%, climbing from GHS5.84 million in 2023 to GHS6.80 million in 2024.
In a speech delivered on behalf of the Managing Director of ARB Apex Bank, the Bolgatanga Branch Manager of ARB Apex Bank, Mabel Domapielle extended warm congratulations to Maltaaba Community Bank for its impressive achievements.
Highlighting the bank’s financial strides, she noted that Maltaaba recorded a significant 144% increase in profit before tax, reflecting the institution’s prudent management and strategic direction.
“This growth demonstrates Maltaaba Community Bank’s commitment to financial inclusion and sustainable banking practices,” she stated.
ARB Apex Bank, the umbrella institution and mini central bank for all Rural and Community Banks (RCBs) in Ghana, plays a vital role in supporting and regulating these banks. It provides financial, technical, and operational support to strengthen rural banking and ensure their alignment with national development goals.
The Apex Bank also acknowledged the commendable progress made by Maltaaba in digital banking innovation, particularly the deployment of a mobile banking solution via USSD short code *992# and the expansion of services through Agency Banking initiatives.
“These advancements are evidence of the bank’s proactive efforts in leveraging technology to serve its customers better, especially in rural communities,” Ms. Domapielle remarked.
She emphasized that the USSD platform empowers customers to conveniently access banking services such as fund transfers, bill payments, and balance checks without the need to visit a physical branch. Similarly, the rollout of Point of Sale (PoS) devices under Agency Banking is expected to reduce operational costs and broaden financial access.
ARB Apex Bank encouraged Maltaaba and other Rural and Community Banks (RCBs) to continue enhancing digital banking penetration and agent recruitment to deepen financial inclusion.
