Banking and Finance

ADB targets top five banks by 2022 – ADB Board Chair

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Mr Alex Bernasko, the Board Chairman of Agricultural Development Bank (ADB), at the weekend said it has adopted a three-year strategic plan to position it among the top five banks in the country by 2022.

The ADB’s three-year strategic plan seeks to ensure continued profits, as well as to achieve targets in loans administration and recovery.

The Board Chairman who disclosed the plan at the ADB annual thanksgiving service, said it had been on the upper trajectory since 2017 when the current Board took over, as against the losses it made in some previous years.

“ADB has for the past two and half years witnessed a turnaround of its fortune from a loss making bank in 2015 to a consistent profit making bank,” he said.

Mr Bernasko said the banking reforms had yielded positive results in the banking sector, adding that, this had brought competitiveness and growth in the financial sector.

Dr John Kofi Mensah, ADB Managing Director, refuted assertions in section of the media that, it was at the verge of collapse or needed to merge to resuscitate; “ADB was successful in 2019 and we are optimistic about the future.

“We will be enhancing inter-departmental collaboration and effectiveness to achieve targets, we are solid and assured customers that, the three-year strategic plan forms part of measures to position adb among the top five banks in the country”.

He commended the staff and clients of the Bank for their continued loyalty and dedication.

The annual thanksgiving service was to celebrate a successful 2019 year of the Bank.

The service was graced by Nii Tetteh Adjabeng II, Adabraka Atukpa, the Board, staff and some clients of the Bank, among other well-wishers.

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