The Agricultural Development Bank (ADB) PLC has successfully recovered more than GH¢500 million in non-performing loans (NPLs) in just nine months, as part of a strategic effort to clean up its books and improve financial stability.

Between January and September 2024, the Bank retrieved GH¢514.99 million from legacy loans that had contributed to its NPL portfolio over several years.

This recovery forms part of ADB's ambitious two-year corporate strategy, aimed at addressing longstanding issues in its loan portfolio.

The Bank’s management, under the leadership of Managing Director Alhassan Yakubu-Tali, took decisive steps to bolster its Recovery Department, tasking the team with an aggressive plan to recoup bad debts as part of a broader 360-degree recapitalisation agenda.

“The Bank’s recovery strategy, coupled with the expertise and perseverance of the Recovery Department, are behind this impressive result, which has helped enhance shareholder value,” said Yakubu-Tali.

He further noted that the Bank’s improved risk management practices have significantly reduced its NPLs, strengthened financial stability, and restored confidence in its operations.

Mr Yakubu-Tali emphasised the importance of ADB’s proactive approach to loan recovery, stating that the Bank will continue to work closely with regulatory bodies to maintain the integrity of its loan portfolio and uphold high standards of risk management.

The recovery drive, he added, has positively impacted the Bank’s overall operations, supporting its recapitalisation agenda and positioning it for sustained growth and profitability.

Ms Sylvia Nyante, General Manager of the Recovery Department, highlighted that the success of the exercise reflects the commitment of all stakeholders.

“Management made the bold decision to focus on recovery as a strategy, and this is now yielding significant results,” she said.

Nyante added that the ongoing recovery exercise aims for the total reclamation of historical NPLs, and she thanked stakeholders and customers for their continued support. "We will continue to intensify our collaborative efforts to ensure a successful outcome," she stated.

ADB, one of the largest universal banks in Ghana and a leader in agribusiness financing, has demonstrated strong financial performance in recent months, with improvements across key indicators such as deposits, profitability, and asset growth.

The Bank also recently received multiple five-star awards at the CIMG Customer Satisfaction Index Report Launch and Awards Night, underscoring its commitment to excellence.