ADB devises strategy to be among top five banks

From right, Dr John Kofi Mensah, ADB’s MD and Mr Alex Bernasko, Board Chair

Management of the Agricultural Development Bank (ADB) has adopted a three-year strategic plan to position the bank among the top five in Ghana.

The plan which aims to be fully attained by the year 2022, seeks to ensure continued growth of the bank.

This means ADB would have to strive to position itself among the ranks of GCB Bank, Standard Chartered Bank, Ecobank, Barclays Bank and Stanbic Bank.

Major highlights of the strategy include the pursuit of a healthy loan administration comprising a strong and robust loan recovery system and a strong enhancement in the interdepartmental responsibilities of the bank.

Speaking at the 2019 Thanksgiving Service of the Agricultural Development Bank in Accra, ADB’s Board Chair, Mr Alex Bernasko, reiterated that the above plans and many others which are being considered by the board, would position the bank among the top five banks by 2022.

Management of ADB said the bank has been on an upward trajectory since 2017 when the current Board took over, as against the losses recorded in previous years.

“ADB has for the past two and half years witnessed a turnaround of its fortunes from being a loss-making bank in 2015 to becoming a consistently 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.