{"id":233340,"date":"2024-10-16T08:57:28","date_gmt":"2024-10-16T08:57:28","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/16\/adb-recovers-over-gh%e2%82%b5500m-npls-in-9-months\/"},"modified":"2024-10-16T08:57:28","modified_gmt":"2024-10-16T08:57:28","slug":"adb-recovers-over-gh%e2%82%b5500m-npls-in-9-months","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/16\/adb-recovers-over-gh%e2%82%b5500m-npls-in-9-months\/","title":{"rendered":"ADB recovers over GH\u20b5500m NPLs in 9 months"},"content":{"rendered":"

<\/p>\n

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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 500 million Ghana cedis non-performing loans (NPLs) in just nine (9) months.<\/p>\n

The actual total amount recovered from January to September 2024 stands at Five Hundred and Fourteen Million, Nine Hundred and Ninety-Nine Thousand Ghana Cedis (GHS514.99 Million).<\/p>\n

The Bank\u2019s NPL\u2019s portfolio is largely made up of years of bad legacy loans. In a bold step to address this, management took measures to resource the Bank\u2019s Recovery Department to ensure aggressive recovery of all non-performing loans as part of its 360-degree recapitalization agenda.<\/p>\n

The achievement, by the Management and Staff, is a testament to the Bank\u2019s unwavering commitment to cleaning its books, fostering prudent lending practices and robust risk management, whilst also protecting its customers and upholding best practices.<\/p>\n

According to the Managing Director (MD) of ADB, Alhassan Yakubu-Tali who is less than 2 years in office, the Bank\u2019s 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.<\/p>\n

The Bank\u2019s improved risk management practice has also gone a long way to significantly reduce its non-performing loans, engender confidence, and strengthen its financial stability.<\/p>\n

\u201cOur 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,\u201d said the MD. The aggressive recovery exercise so far has greatly impacted the Bank\u2019s operations, augmented our comprehensive recapitalization agenda, and has put the Bank on the path of sustained growth and profitability. He emphasized.<\/p>\n

The General Manager (GM) in charge of recoveries, Sylvia Nyante stated that the successful recovery rate reflects the commitment of all stakeholders to ensure the achievement of the Bank\u2019s recovery objectives.<\/p>\n

\u201cManagement took a bold decision as part of the strategy to focus on recovery which is yielding significant results,\u201d Madam Sylvia said. \u201cThe objective of this exercise is to ensure total recovery of all historical NPLs, and so we want to thank all our stakeholders and customers for their support in this process so far,\u201d she added. \u201cWe will continue to intensify our collaborative efforts with all stakeholders for a successful exercise,\u201d Madam Sylvia further added.<\/p>\n

The Agricultural Development Bank PLC is one of the biggest universal banks in the country, and a leader in agribusiness financing.<\/p>\n

The Bank has recorded strong financial performance from all indicators including deposits, profitability and asset growth.<\/p>\n

It also won several five (5) star awards at the recently held CIMG Customer Satisfaction Index Report Launch and Awards night.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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 500 million Ghana cedis non-performing loans (NPLs) in just nine (9) months. The actual total amount recovered from January to September 2024 stands at Five Hundred and Fourteen Million, […]<\/p>\n","protected":false},"author":1,"featured_media":231595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-233340","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nADB recovers over GH\u20b5500m NPLs in 9 months - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/16\/adb-recovers-over-gh\u20b5500m-npls-in-9-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADB recovers over GH\u20b5500m NPLs in 9 months - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"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 500 million Ghana cedis non-performing loans (NPLs) in just nine (9) months. 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