The Agriculture Development Bank (ADB) has posted a strong financial rebound, recording a net profit of GH¢35.06 million in 2024, a sharp turnaround from the GH¢828.8 million loss the institution suffered in 2023.

The announcement was made at the bank’s Annual General Meeting (AGM) held in Accra on September 24, 2025, where the leadership credited the recovery to improved financial performance and targeted growth strategies.

Board Chairman, Kenneth Kwamena Thompson, noted that enhancements in the bank’s capital adequacy ratio also supported the positive results, though the ratio still lags 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,” Thompson cautioned.

Despite the profit rebound, the bank continues to face significant asset quality issues, with its non-performing loans (NPL) ratio rising from 70.25% in 2023 to 75.26% in 2024.

On the positive side, total assets grew by 57%, moving from GH¢9.31 billion in 2023 to GH¢14.60 billion in 2024. Customer confidence also improved, reflected in a 41% growth in deposits, which reached GH¢12.05 billion.

Management assured shareholders that the bank will sustain its recovery drive through digital transformation, innovation, and customer-focused solutions, positioning ADB as a more resilient and future-ready financial institution.