by Elorm Desewu
The Agricultural Development Bank (ADB) PLC under the leadership of its Managing Director, Alhassan Yakubu-Tali has recorded sterling results for the bank for the first nine months of 2024.
According to the Bank’s published financial figures for the first nine months of 2024, the bank recorded impressive profit before tax of GHC176.414 million compared with GHC26.999 million recorded during the same period in 2023, representing a profit growth of over 600 percent.
Profit after tax stood at GHC111.827million for the period under review compared with a profit after tax of GHC2.040million recorded during the same period last year. percent.
The liquidity ratio of the Bank also grew from 91.94% in 2023 to 125.55% as at end of September, 2024, and deposits have also witnessed significant growth from GHC7.75 billion to GHC11.15 billion.
This remarkable record could be attributed to hard work and commitment on the part of Board, Management and Staff to make the bank more robust and also to maintain its position as one of the market leaders in the banking industry.
The Agriculture Development Bank which operates with a universal banking license that allows it to undertake all banking and related services embarked on an aggressive recoveries of the non-performing loans in an effort to clean it books.
With the new capital and improved recoveries, the bank expects to exceed the Capital Adequacy Ratio (CAR) and the unimpaired regulatory capital position by the year end 2024.
ADB PLC recently received several 5-Star ratings at the Chartered Institute of Marketing Ghana (CIMG) Customer Satisfaction Survey Index Report Launch and Awards Night.
The recognition is a direct consequence of the development and implementation of a customer care and service quality strategic pillar as part of a two-year corporate strategy introduced by the Bank in 2023.
The bank garnered5-Star Ratings in: Customer Satisfaction – Consumer Banking; Customer Satisfaction – Business Banking; Service Quality – Consumer Banking; and Service Quality -Business Banking. The Bank was also adjudged the First Runner-Up position in Business Banking Service Quality.
With an increasing investment in digital banking and service efficiency, ADB continues to be among the leading banks, setting benchmarks for innovation and excellence in Ghana’s banking industry.
As customer expectations rise, ADB’s ability to adapt and improve makes it a trusted and reliable choice for both individual and business clients alike.
