No Result
View All Result
Tuesday, October 3, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Govt defaults on paying pension contributions for public sector workers

    Punitive domestic tariffs threaten African trade

    Traders bare teeth at GRA; issue ultimatum to govt over tax compliance exercise

    Prices of petroleum products to rise marginally in October – IES

    Gross insurance premiums decline in H1; but industry outlook remains positive

    AGI advocates for innovative policies to support SMEs

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Prices of petroleum products to rise marginally in October – IES

    FBNBank Ghana launches Akye promotion

    AGI advocates for innovative policies to support SMEs

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

  • TECHNOLOGY

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Punitive domestic tariffs threaten African trade

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Govt defaults on paying pension contributions for public sector workers

    Punitive domestic tariffs threaten African trade

    Traders bare teeth at GRA; issue ultimatum to govt over tax compliance exercise

    Prices of petroleum products to rise marginally in October – IES

    Gross insurance premiums decline in H1; but industry outlook remains positive

    AGI advocates for innovative policies to support SMEs

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    The Geopolitical Forces Driving Today’s Oil Market

    IMF raises concerns over the energy transition price tag

    Prices of petroleum products to rise marginally in October – IES

    FBNBank Ghana launches Akye promotion

    AGI advocates for innovative policies to support SMEs

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

  • TECHNOLOGY

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Billion dollar opioid addiction market fuels Nigeria’s drug crisis

    Nigeria Aims for $5 Billion Tech Investment by 2027

    Punitive domestic tariffs threaten African trade

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

ADB shows impressive half-year performance despite impact of COVID-19

byNerteley Nettey
August 7, 2020
in Banking And Finance, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

The Agricultural Development Bank (ADB), has posted impressive financial growth in its half year results even in the face of the Coronavirus pandemic that has wreaked havoc to all sectors of the economy including the financial sector.

But the unaudited half year results published by the Bank last week showed a growth in all key performances such as assets, deposits, loans, net interest income and others also saw an appreciable growth.

A press release issued by the Bank states that, the Bank’s total asset grew by more than GH¢800million or 17.17% from GH¢4.04billion to GH¢4.88billion on the back of 26.6% growth in the loan book from GH¢1.22billion to GH¢1.66billion from June 2019 to June 2020.

ADVERTISEMENT

It has been able to increase its deposits, despite the uncertainty of customers about how and what to save, from GH¢2.95billion to GH¢3.68billion, a difference of GH¢727.77million or 19.76percent growth.

Managing Director of the Bank, Dr. John Kofi Mensah, noted that the bank stayed true to its core business of financing agriculture and agribusinesses and with the pandemic, the nation needed to secure its food production process.

“The pandemic has shown to us that we are on the right path when it comes to sustaining Ghana’s food security. With our borders closed and other trading partners closing their borders, it meant that we are have to look inward to keep feeding ourselves and with strategic financing from us, our farmers and players along the agric value chain have not disappointed,” he said.

He touched on some of the bank’s initiatives including the comprehensive financing scheme for the poultry value chain, which he believes could make Ghana become self-sufficient in poultry production by 2022.

The bank recently presented a GH¢23.2million loan facility to six players in the poultry value chain and this is to be replicated nationwide within the next two years.

The facility would finance a comprehensive GH¢500 million programme, that would reduce reliance on imported chicken, protect the local currency and promote sustainable jobs in the agriculture sector.

The project, expected to be replicated in six other regions of the country is being coordinated in partnership with the Ministries of Finance, and food and agriculture; and the Outgrower and Value Chain Fund (OVCF) and Ghana Incentive-Based Risk-Sharing System for Agricultural Lending Project (GIRSAL).

According to Dr. Kofi Mensah, the Bank’s digital banking products kept it in business during the period since customers could still do business without necessary being in the Banking halls.

“Being a caring bank we rolled out several digital channels and reduced the cost of using them to ensure our customers remained with us,” he said.

Dr. Mensah further noted that most of the loans were targeted at agribusiness so as to avoid any possibility of food shortage in the medium and long term.

Related Posts

Oil And Gas

The Geopolitical Forces Driving Today’s Oil Market

byBenjamin Aklama

The recent oil price rally has been driven, in large part, by Saudi Arabia's and Russia's efforts to cut supply...

Read more

IMF raises concerns over the energy transition price tag

Billion dollar opioid addiction market fuels Nigeria’s drug crisis

Govt defaults on paying pension contributions for public sector workers

Punitive domestic tariffs threaten African trade

Traders bare teeth at GRA; issue ultimatum to govt over tax compliance exercise

Prices of petroleum products to rise marginally in October – IES

Next Post

Common Platform has saved Ghana GHS1.5bn in under - declared taxes by telcos - Ursula

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.