- ADB recovers GHS514.99M in non-performing loans in 9 months
- Bank's aggressive recovery strategy enhances shareholder value
- ADB's NPL reduction boosts financial stability and growth
The Agricultural Development Bank (ADB) PLC has achieved remarkable success in its aggressive recovery exercise, retrieving GHS514.99 million in non-performing loans (NPLs) within nine months.
The Bank’s NPL portfolio, largely comprised of legacy loans, prompted management to resource the Recovery Department as part of its 360-degree recapitalization agenda. This strategic move has yielded impressive results, demonstrating ADB’s commitment to prudent lending practices, robust risk management, and customer protection.
According to Managing Director Alhassan Yakubu-Tali, the Bank’s recovery strategy and the Recovery Department’s expertise have significantly enhanced shareholder value. “Our proactive approach to loan recovery has paid off. We will continue to work closely with regulatory bodies to ensure the integrity of our loan portfolio and maintain the highest standards of risk management,” he stated.
The recovery exercise has positively impacted ADB’s operations, advancing its recapitalization agenda and positioning the Bank for sustained growth and profitability.
Sylvia Nyante, General Manager in charge of recoveries, attributed the success to stakeholders’ commitment. “Management took a bold decision to focus on recovery, yielding significant results. We thank our stakeholders and customers for their support and will continue to collaborate for a successful exercise.”
As one of Ghana’s largest universal banks and a leader in agribusiness financing, ADB has demonstrated strong financial performance across deposits, profitability, and asset growth. Recently, the Bank received multiple 5-star awards at the CIMG Customer Satisfaction Index Report Launch and Awards night ¹.
