The Agriculture Development Bank (ADB) has declared a remarkable financial turnaround, bouncing back from a significant loss in 2023, to profit in 2024.

At its Annual General Meeting (AGM) in Accra on September 24, 2025 the bank announced a net profit of GH₵35.06 million in 2024, reversing its GH₵828.8 million loss recorded the previous year.

Board Chairman, Kenneth Kwamena Thompson, attributed the recovery to solid financial performance and strategic growth initiatives. He highlighted improvements in the bank’s capital adequacy ratio, though he admitted it still falls below regulatory requirements.

“Key challenges persist in areas of loan book contraction and high non-performing loans, which continue to constrain credit growth and profitability potential,” Mr. Thompson told shareholders.

The bank reported that its non-performing loans (NPL) ratio worsened, rising from 70.25% in 2023 to 75.26% in 2024. This, Mr. Thompson noted, underscores the difficulties in loan recovery and asset quality, which continue to weigh on profitability and capital.

Despite these hurdles, ADB’s balance sheet showed strong growth. The bank’s total assets surged by 57%, from GH₵9.31 billion in 2023 to GH₵14.60 billion in 2024. Customer confidence was also reflected in deposit growth, with deposits increasing by 41%, from GH₵8.55 billion to GH₵12.05 billion.

“On the deposit side, customer deposits also grew strongly highlighting improved customer confidence and stronger mobilization efforts,” Mr. Thompson assured.

Looking ahead, ADB says it is committed to building a resilient, future-ready institution, with focus on innovation, digital transformation, and customer-centric solutions to sustain profitability and growth.