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 GH\u00a2500 million Non-Performing Loans (NPLs) in just nine months.<\/p>\n The actual total amount recovered from January to September 2024 stands at GH\u00a2514.99 million.<\/p>\n The Bank\u2019s NPLs portfolio is largely made up of years of bad legacy loans. In a bold step to addressing this, management took measure to resource the Bank\u2019s Recovery Department to ensure aggressive recovery of all non-performing loans as part of its 360-degree recapitalisation 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 two 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 strengthened 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.<\/p>\n \u201cThe aggressive recovery exercise so far has greatly impacted the Bank\u2019s operations, augmented our comprehensive recapitalisation agenda, and has put the Bank on the path of sustained growth and profitability,\u201d he emphasised.<\/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 strategy to focus on recovery which is yielding significant results,\u201d Madam Sylvia said.<\/p>\n \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. We 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. The Bank has recorded strong financial performance from all indicators including deposits, profitability and asset growth. It also won several five (5) star awards at the recently held CIMG Customer Satisfaction Index Report Launch and Awards night.<\/p>\n Watch the latest edition of BizHeadlines below:<\/b><\/p>\n![\"Managing](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/148\/14811959.295.jpg\" "\\"Managing")
Managing Director (MD) of ADB, Alhassan Yakubu-Tali<\/span><\/span><\/p>\n<\/div>\n