Suma Rural Bank PLC posted strong financial results for 2024, delivering broad-based growth across all key indicators on the back of robust deposit mobilisation and an improved asset mix. Customer deposits more than doubled, rising 102% to GH¢84.60 million from GH¢41.88 million a year earlier. The bank’s investment portfolio also expanded sharply, climbing 158% to GH¢62.14 million from GH¢24.07 million. Loans and advances increased 17% to GH¢18 million, while total assets nearly doubled to GH¢98.89 million from GH¢49.84 million. Stronger revenue flows underpinned a 41.7% rise in operating income to GH¢16.17 million, compared with GH¢11.41 million in 2023. Profit after tax jumped 120.3% to GH¢3.42 million, up from GH¢1.55 million. Announcing the results at the bank’s 39th annual general meeting, Board Chairman Akwasi Afram said the performance reflected disciplined cost management and strong deposit mobilisation, supported by declining market rates. Shareholders’ funds rose 88% to...