Tag: Agricultural Development Bank
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![ADB pioneers in global remittance services in Ghana [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/06/WhatsApp-Image-2022-06-16-at-11.08.30-AM.jpeg)
ADB pioneers in global remittance services in Ghana [ARTICLE]
The International Day of Family Remittances (IDFR) was adopted by the United Nations General Assembly and is observed on 16 June every year. The Agricultural Development Bank PLC(ADB) was the first Bank in Ghana to introduce remittance services to the Ghanaian public. In 1995, ADB became the sole agent for Western Union in Africa with…
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ADB to revamp Ghana’s citrus industry
The Agricultural Development Bank (ADB), one of the leading universal banks in the country has recently partnered the OVCF with the aim of revamping the citrus industry. Through this partnership, ADB is giving financial support to the Central Citrus Limited to develop and cultivate the over 3000 acres of abandon citrus farms located in the…
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ADB’s profit after tax in 2020 up by 400% despite impact of COVID-19
Despite the ravaging impact of the COVID-19 pandemic on the financial sector, Ghana’s sole agriculture bank, the Agricultural Development Bank (ADB) has recorded a 400 percent increase in profit after tax for the year 2020. GHS65.5 million was declared for 2020 as against GHS14.9 million recorded in 2019. This was announced by the former Board…
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ADB Managing Director inducted into Chief Executives Network Hall of Fame
The Managing Director of the Agricultural Development Bank (ADB), Dr. John Kofi Mensah, has been inducted into the Chief Executives Network Hall of Fame at the just-ended 5th Ghana CEOs’ Network Summit held in Accra. The induction into the Hall of Fame is in recognition of Dr. Kofi Mensah’s significant contribution to the Ghanaian banking…
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Shareholders will enjoy dividends soon – ADB Board Chairman assures
Shareholders of the Agricultural Development Bank (ADB) have been assured of dividends soon as the Bank continues on the path of sustainable growth and profit making. According to the Board Chairman, Lawyer Alex Barnasko, under his leadership the Bank was now making profit and with a well laid out strategy shareholders will soon enjoy dividends…
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adb’s profit after tax drops by 36% in 2020 1st quarter
The Agricultural Development Bank’s (ADB) profit after tax for the first quarter of 2020; dropped by 36%. It recorded 13.3 million cedis for the first three months of the year, down from the 20.82 million cedis recorded in the same period in 2019. An analysis of the first quarter performance of ADB by Citi Business…
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ADB set to raise GH¢127 million to meet BoG minimum capital requirement
The shareholders of Agricultural Development Bank have voted to allow the bank to raise GH¢127 million to enable it to meet the minimum capital requirement set by the Bank of Ghana. This will be made through the private placement of shares with the Ghana Amalgamated Trust PLC which has been mandated to assist some five…