ADB Recovers Over GHȼ500m Loans in 9 Months

The Agricultural Development Bank (ADB) PLC, as part of its two-year corporate strategy, embarked on an aggressive recovery exercise, leading to the successful recovery of over GHȼ500 million Non-Performing Loans (NPLs) in just nine months.

The actual total amount recovered from January to September 2024 stands at GHȼ514.99 million.

ADB's NPLs portfolio is largely made up of years of bad legacy loans.

In a bold move to address this, ADB's management took measures to furnish its Recovery Department with adequate resources to ensure aggressive recovery of all Non-Performing Loans as part of its wholistic recapitalisation agenda.

According to the Managing Director (MD) of ADB, Alhassan Yakubu-Tali (who is less than two years in office), the bank’s recovery strategy, coupled with the expertise and perseverance of the Recovery Department, are the results of the impressive feat which has helped enhance 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 said. 

The Agricultural Development Bank PLC is one of the biggest universal banks in the country, and a leader in agribusiness financing.

The bank has recorded strong financial performance from all indicators including deposits, profitability, and  asset growth.