ADB - 2016 OVERVIEW

Revenue - GH¢ 273,081,000

Loss - GH¢ 78,975,000

Total assets - GH¢ 2,134,147,000

Ghana Stock Exchange - Not listed

Shareholders’ funds - GH¢ 332,893,000

Earnings per share - GH¢ -3.159

Headquarters - Accra Financial Centre, Ridge-Accra

Sector - Banking

Managing Director - Stephen Kpordzih

As at December 31, 2015 total assets was GH¢2.13 billion declining marginally by 1.1% compared to the previous year. In terms of funding sources, although

total deposits as at December 31, 2015 was GH¢1.51billion, representing an increase of 3.5% compared to the previous year. This increase was offset by a decrease in borrowings which affected liquidity.

The tightness in liquidity resulted in a 34% increase in cost of funding and a marginal increase in interest income giving rise to a decline of 13% in net interest income when compared to the 2015 financial year. This coupled with other factors resulted in a loss of GH¢100 million for the year ended December 31, 2015 compared to a profit before tax of GH¢ 35 million recorded during the financial year ended December 31, 2014.

The Bank however reported a net loss of GH¢78.98 million for the year (2014: GH¢47.87million profit) and has also breached the minimum capital adequacy ratio set by the regulator (2015: 8.26%; 2014: 10.48%).

In order to recapitalize, ADB embarked on an Initial Public Offer (IPO) where it expected to raise an amount of GH¢398.45 million through the sale of shares. The process concluded by April 2016.