Agricultural Development Bank Limited Reports Audited Earnings Results for the Year Ended December 31, 2017
Agricultural Development Bank Limited reported audited earnings results for the year ended December 31, 2017. For the period, the company’s interest income was GHS 520,862,000 against GHS 361,066,000 a year ago. Net interest income was GHS 309,611,000 against GHS 194,314,000 a year ago. Operating Income was GHS 406,904,000 against GHS 278,247,000 a year ago. Profit before tax was GHS 47,339,000 against loss of GHS 105,714,000 a year ago. Profit attributable to equity holders of the Bank was GHS 26,510,000 against loss of GHS 70,026,000 a year ago. Basic and diluted earnings per share were 0.11 Ghana Pesewas against loss of 0.166 Ghana Pesewas a year ago. Net cash generated from operating activities was GHS 309,599,000 against GHS 637,217,000 a year ago. Purchase of property and equipment was GHS 12,989,000 against GHS 9,419,000 a year ago. Purchase of intangible assets was GHS 11,485,000 against GHS 28,055,000 a year ago.