Ghana’s indigenous bank, ADB recorded 102 percentage points growth in earnings in the first quarter of this year, to GH¢26.8 million, according to its quarter one unaudited financial statement.
The bank’s profit could have been more if not for GH¢7.8 million loan loss.
At the same time, the bank’s asset quality improved as Non-Performing Loans ratio went down to 17.53% in March 2021, as against 34.40% recorded in December last year.
According to its 2020 Financial Statement, the indigenous bank grew its interest income and net fees and commissions by 22% and 12.5% year-on-year to GH¢17.3 million and GH¢17.6 million in March 2020.
It was one of the few banks that undertook loans and advancement throughout the peak of the covid-19 pandemic.
Earnings per share stood at 10.27 pesewas in March 2020, higher than 3.83 pesewas registered the same period last year.
The balance sheet size continued to grow bigger and stronger as it grow slightly above the December 2020 figure to GH¢10.58 billion.
Shareholders’ funds stood at GH¢877.5 million in March 2021, higher than the GH¢803 million recorded during the same period last year.
In terms of the stability of the bank, ADB recorded a liquidity ratio of 106%, and Non-Performing Loans dropped by about 2.0% from the December 2020 figure to 32.94% in the first quarter of this year.
Financial Soundness Indicators
|December 2020||March 2021|
|Capital Adequacy Ratio||14.87%||13.92%|