Builsa Community Bank Records Significant Growth Amid Global Economic Challenges

Strategic Insights -

Despite the economic shocks faced by the financial sector in 2024, the Builsa Community Bank (BUCO Bank) achieved remarkable growth in various financial indicators. The bank's profit after tax skyrocketed to GHS5.33 million, a 646% increase from the previous year. The bank's stated capital also exceeded the Bank of Ghana's mandatory minimum capital requirement, reaching GHS2.3 million in 2024. The Board and Management of the Bank attributed this success to strong shareholder confidence, prudent financial management, and operational efficiency.

Key Takeaways:

  • The Builsa Community Bank (BUCO Bank) recorded a record profit after tax of GHS5.33 million in 2024, representing a 646% increase from the previous year.
  • The bank's stated capital exceeded the Bank of Ghana's mandatory minimum capital requirement, reaching GHS2.3 million in 2024.
  • Total deposits grew by 49.26%, rising from GHS59.3 million in 2023 to GHS88.5 million in 2024.
  • Net worth increased from GHS1 million to GHS7 million, representing a 581.98 percent growth.
  • Short-term investment grew by 77.40%, rising from GHS34 million in 2023 to GHS60.3 million in 2024.
  • Loans and advances increased by 20.44%, from GHS21.3 million to GHS25.7 million, within the same period.
  • The bank's strong results allowed it to fully absorb the GHS6 million impairment provision imposed by the Bank of Ghana in 2023.
  • The Bank received a 'Satisfactory' rating from the Efficiency Monitoring Unit of the Association of Rural Banks (ARB) Apex Bank PLC.
  • The bank improved its national ranking, moving from 89th position in 2023 to 66th out of 147 Rural and Community Banks (RCBs) in 2024.
  • The bank invested GHS55,428.00 in various initiatives in education, agriculture, healthcare, culture, sports, and environmental sustainability.

Statistics:

  • GHS5.33 million: Record profit after tax in 2024.
  • 646%: Increase in profit after tax from 2023 to 2024.
  • GHS2.3 million: Stated capital exceeding the Bank of Ghana's mandatory minimum capital requirement in 2024.
  • 49.26%: Growth in total deposits from 2023 to 2024.
  • GHS59.3 million: Total deposits in 2023.
  • GHS88.5 million: Total deposits in 2024.
  • 581.98%: Growth in net worth from 2023 to 2024.
  • GHS1 million: Net worth in 2023.
  • GHS7 million: Net worth in 2024.
  • 77.40%: Growth in short-term investment from 2023 to 2024.
  • GHS34 million: Short-term investment in 2023.
  • GHS60.3 million: Short-term investment in 2024.
  • 20.44%: Growth in loans and advances from 2023 to 2024.
  • GHS21.3 million: Loans and advances in 2023.
  • GHS25.7 million: Loans and advances in 2024.
  • GHS6 million: Impairment provision imposed by the Bank of Ghana in 2023.
  • GHS55,428.00: Amount invested in various initiatives in education, agriculture, healthcare, culture, sports, and environmental sustainability.

Sources:

  • Ghana News Agency, 24 June 2025
  • Report presented by Mrs Akanbangbiem Agamu Asokea, Board Chairperson of the Builsa Community Bank (BUCO Bank) to shareholders and stakeholders during the 25th Annual General Meeting