ADB changing from loss to profit making bank – MD discloses

The Development Bank (ADB) according to the Managing Director (MD) Dr. John Kofi Mensah has for the past two and half years witnessed a turnaround of its fortune from a loss making Bank in 2015 to a consistent profiting making bank.

Indicating that, “Last year was good for the Bank,we undertook strategic decisions including the Green Climate Fund certification which brought us into contact with Pasco international of Seoul, South Korea, with the positive effects to actualize in the course of the year”.

These revelations by the Managing Director was made known at the Bank’s Annual Thanksgiving Service held at the National Theater in Accra on the theme: “Be thankful unto him, and bless his name, For the Lord is good,”Psalm 100:4-5.

Speaking further, the MD commended the Board, Management, Staff and Unions for their continuous support, commitment and dedication to duty,, hence making ADB a much better Bank.

To him, the ADB brand is stronger and well positioned than it was some years ago, adding that the name ADB is currently a household name on the lips of many Ghanaians especially the Business community as the Bank of choice for business particularly agribusiness.

“I remain hopeful that this year will witness a massive improvement in in the fortunes of our Bank due to the many tactical measures we have initiated as pert of our five-year strategic plan”, he opined.

On its human resources, the MD indicated that, ADB has been a gender sensitive employer with their male to female ratio being almost equal, saying the Bank have a ratio of 54% male and 46% female making up the total work force.

On his part, the Board Chairman of ADB, Mr. Alex Bernasco pointed out that the ADB has a great future and would continue to survive, revealing further that ADB has adopted several programmes to move the bank forward.

Giving the sermon of the day, Rev. Edwin Langmer admonished the staff of ADB to believe that God is capable of giving them more abundant lives but then, needs to surrender their lives totally and always give thanks to God for his mercies.

According to the man of God, giving thanks represent the kind of faith one have in God, indicating that they should always be grateful for what the Lord has done in their lives.

“You must always rejoice in the Lord because he has given us a lot”, he noted.

ADB was established in 1965, by Act of Parliament to meet the banking needs of the Ghanaian agricultural sector in a profit manner.

Agricultural Development Bank is a government-owned development and Commercial Bank in Ghana.

It is the first development finance institution established by the Government of Ghana, and is one of the commercial banks licensed by the Bank of Ghana.

The Bank engages in other types of banking in addition to agricultural loans.

Source: Ishmael Barfi/

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