According to straightnewsonline.com sources, Ghana’s Agricultural Development Bank(ADB) profit went up to GHC 65million in 2020 indicating approximately 341% compared to 2109 profit margin.
The Bank’s profit after tax in 2019 was GHS14.9 as against GHS65.5 million in 2020. Irrespective of the negative impacts of coronavirus on the world economies ,the Agricultural Development Bank’s(ADB) financial statement grew all incomes on its products. There was a 28% interest income growth as at December 2020 to GH¢628 million.

“It balance sheet size hit GH¢10.5 billion at the end of December last year, as against GH¢8.3 billion in 2019. The stated capital of the bank is still pegged at GH698 million, far higher than the minimum capital of GH¢400 million”.
On record the shareholders dividend rose from 5.66 pesewas per share in 2019 to 24.99 pesewas in 2020 indicating an increase of over 300%.

The Bank is currently managed by Dr. John Kofi Mensah. The bank last year focused more on agribusiness and other products rolled out as well as loans to other businesses and individuals.

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Dr. Kofi Mensah, The Managing Director, ADB

“We would want to secure the capital of the Bank and make it more robust to absorb any shocks. The basis of that is profitability. We are also moving the human capital base so that human capital will be ready for the new developments that are coming up. We need to train more staff who are vexed in agribusiness. We need to introduce new structures”, the managing Director of ADB, Dr. John Kofi Mensah said.

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