Ghana’s sole agriculture bank, the Agricultural Development Bank, has begun recording consistent growth in profit as earnings went up by about 80% year-on-year to ¢55.7 million in the first half of this year.
This resulted in earnings per share (EPS) inching up by about 138.6% to 21.29 pesewas. During the same period last year, EPS was 8.92 pesewas.
According to unaudited half-year results, the impressive growth was occasioned by significant growth in net fees and commission and net interest income as well as reduction in Non-Preforming Loans.
Importantly, net fees and commission and net interest income grew by 51.4% and 26.1% to ¢45 million and ¢239 million respectively in June 2021.
ADB had benefited from capital injection from the Ghana Amalgamated Trust to turn around its fortunes.
With regard to the balance sheet, the balance sheet size surpassed ¢11 billion to ¢11.34 billion at the end of June this year. Total assets stood at ¢6.12 billion, whilst total liabilities was ¢5.2 billion in the first six months of 2021.
Shareholders’ funds also stood at ¢906.3 million in June 2021, higher than the ¢824.8 million recorded during the same period last year.
In terms of the stability of the bank, ADB recorded a liquidity ratio of 112%, whilst Non-Performing Loans dropped from 32.94% in the first quarter of this year to 31.80% in June 2020. Capital Adequacy Ratio however was still low at 13.31%.
Financial Soundness Indicators
June 2021 | March 2021 | |
Capital Adequacy Ratio 13.31% | 13.92% | |
Non-Performing Loans 31.80% | 32.94% | |
Liquid Ratio 112% | 144.98% |
Latest Stories
-
Iñaki Williams scores twice in Athletic Bilbao’s win over Getafe
9 mins -
Argument with Salah ‘completely resolved’ – Klopp
20 mins -
Reus to leave Dortmund at the end of the season
41 mins -
Uefa confirms 26-man squads for Euro 2024
46 mins -
Teacher Unions press home demands for the new allowances
48 mins -
Media’s failure to hold government accountable for ‘galamsey’ alarming – Mahama
55 mins -
Keta Presbytery urges Akufo-Addo to assent to anti-LGBTQ+ Bill
1 hour -
Ghanaian midfielder Lawrence Ofori nets maiden goal of the season with stunner against Vizela
1 hour -
Community fearful after off-duty policemen shot dead at East Trasacco
1 hour -
Dext Technology partners KNUST to train basic school teachers on STEM
2 hours -
My efforts led to remarkable transformation in Appiatse – Lands Minister
2 hours -
13th Ghana Information Technology and Telecom Awards launched
2 hours -
Comedy of electioneering campaign policy: NDC’s 24-hour economy tricks
2 hours -
We will remain vigilant in our oversight operations of all financial institutions – Governor
2 hours -
Ghana’s economic recovery has been strong and steady – Finance Minister
2 hours