3 weeks ago
24 ARTICLE AD
THE Managing Director of the Agricultural Development (ADB PLC), Alhaji Alhassan Yakubu-Tali, has been adjudged Public Sector CEO of the Year 2024 at the prestigious Ghana Business Awards night on Saturday in Accra.
The awards night was attended by CEOs and captains across industries.
The top award is a recognition of the unwavering commitment of the Managing Director and his management team to strengthen ADB, as Ghana’s foremost universal banking partner that provides end-to-end product service offerings for wealth creation through agribusiness and more.
The Managing Director and his management team rolled out a two-year corporate strategy in 2023 to enhance the Bank’s operations. The implementation of the two-year corporate strategy and a strategic plan have culminated, among other things, in the recovery of over GH¢500 million non-performing loans in nine months, from January to September 2024.
ADB also recorded significant growth in its customer deposits by over GH¢3.4 billion, from GH¢7.747 billion in September 2023 to GH¢11.147 billion.
The Bank’s published unaudited financial statements for Q3 2024 further show impressive profit after tax of GH¢111.827 million compared with GH¢2.040 million recorded during the same period in 2023.
Liquidity ratio grew from 91.94 per cent to 125.55 per cent and total assets also grew by over GH¢4.5 billion. ADB capital adequacy ratio also moved from 1.35 per cent to 8.26 per cent and it is well positioned to meet the regulatory minimum capital adequacy ratio of 10 per cent by end of the year.
Expressing his gratitude for the recognition, Alhaji Yakubu-Tali dedicated the award to the customers of the bank, the hardworking farmers and fishers across Ghana. He also extended appreciation to all other stakeholders for their loyalty and continuous support.
“This recognition underscores the importance of our collective hard work and loyalty, and this should continue to inspire us all to remain committed to sowing seeds of prosperity for Ghana,” he stated.
The ADB was also recognised as the Agribusiness Company of the Year, affirming its position as the premier institution supporting Ghana’s agricultural transformation. This dual win highlights ADB’s role not only as a financial institution but also as a partner in Ghana’s food security and agribusiness development efforts.
As Ghana aims to become a self-sustaining agricultural powerhouse, ADB will continue to be a lead player in the journey by providing universal banking services focused on agribusiness and more.
