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History And Development

Head Office Building

South Akim Rural Bank Limited was established on 25th August, 1984 and was commissioned on 2nd November, 1984.

The key promoters of the bank were the late Major (Rtd) Samuel Boadi Gyasi, one time Managing Director of the Produce Buying Company (PBC). He together with the late Chief of Nankese Nana Ayim Gyasi II, the late Nana Adarkwa Yiadom Odikro of Nankese, the late Mr. Godfred Daniel Asante and Mr. Benjamine Atta Koranteng promoted the bank. Some of the initial directors were Mr. M. N. A. Afrifa-Gyasi, the late Chief Farmer of Nankese Nana Kwabena Donkor Yirenkyi, late Mr. F, N, Gyasi, Mr. A. B. Asante, Mr. George Diabene Agyakwa and Mr. Adams Henaku (Rep. of the Bank of Ghana). These people together with many shareholders helped to establish the bank.

The Bank started operations with a staff of five (5). The Head Office of the Bank is located at Nankese a town in the Suhum Kraboa-Coalter District of the Eastern Region.

After its commencement in November, 1984 the Bank extended its operations to the district headquarters at Suhum in September, 1987. After a long break for consolidation, another agency was opened at Koforidua on 8th October, 1993. The Asamankese Agency was opened on 3rd February, 1995.

The Adoagyiri Agency was also opened on 6th November, 2006 and Osenase Agency was also officially opened on 26th August, 2010. Full scale banking services are provided at all these agencies.

From the initial staff strength of five (5) the bank now has a staff population of 148 as at 31st December, 2013.

Almost the entire population of the catchments area is engaged in farming, mostly Cocoa, Food crops and Vegetable farming as well as in rural industries such as distilling of liquor, wood charcoal production, basket weaving, transportation, timber production and stone quarrying.

The bank provides services to a large number of salaried workers who are paid by the Accountant General and other employers as well as to educational institutions, religious bodies, social organizations and district assemblies.

A lot of investment has been made in computerizing and networking all its branches.

Vision Statement

It is the vision of the South Akim Rural Bank Limited:
“to be among the leading banks in the country”.

Mission Statement

“to become the leading rural bank and market mover in the Eastern Region, as well as be ranked among the best five (5) rural banks in Ghana’’

Corporate Values

Efficiency through team work is our strength.
Customer satisfaction is our hallmark.
Maximisation of profit and protection of the Bank’s resources are our prime concerns.
Community development is our goal.