Business News of Tuesday, 4 February 2020Source: classfmonline.comADB records 435% profit in 2019John Kofi Mensah, Managing Director for ADBIndigenous bank, ADB, has recorded a whopping 435% profit for the 2019 financial year. According to its unaudited 2019 Financial Statement, it recorded a profit of GHS35.9 million in 2019 as against GHS5.9 million in 2018. The bank registered an interest expense of GHS182 million in 2019 as against GHS213 million in 2018. From the income statement, ADB registered GHS11 million tax expense in 2019, compared to GHS28.1 million expense in 2018. From the balance sheet, GHS1.5 billion was invested in securities in 2019 as against GHS1.1 billion in 2018.

Source: GhanaWeb February 04, 2020 06:56 UTC