The Agricultural Development Bank (ADB) has increased its branch network with the opening of four new branches at Bole and Tamale in the Northern Region, Tumu in the Sissala District of the Upper West Region and Asiakwa in the Eastern Region. The new branches were formally commissioned at separate ceremonies by the Board Chairman, Alhaji Ibrahim Adam. The ceremonies attracted several dignitaries, including the Northern Regional Minister, Hon. Moses Mabenga, District Chief Executives, chiefs and top customers of the bank.
Speaking at the separate ceremonies at Bole, Tumu and Tamale, Mr. Strephen Kpordzih, Managing Director of ADB, said the increase presence of ADB is a strong indication of ADB’s commitment towards the development of agriculture in communities which play a crucial role in the overall business of agriculture in Ghana.
“Our branch network expansion programme is also to help attract more of the unbanked population and give our customers more choice of locations to do banking with ADB. In addition, “it gives us the edge to increase deposit mobilization and in turn lend more to customers,” Mr. Kpordzih said.
He said in spite of the quest to attain the highest heights in universal banking operations, ADB continues to remain the number one financier in the agricultural sector as its core business. He said ADB is on course to meet the target of increasing the share of agriculture in the bank’s credit portfolio to 40 percent and re-discovering its founding mission.
“Lending to the agricultural sector increased by 64.5%. It also meant an increase in the share of agriculture of the total credit portfolio from 24.1% to 28.9%. The total amount of loan approvals made in the first half of this year for agricultural purposes increased by nearly 70% as compared with approvals made in the same period last year. The percentage of agriculture in our total lending portfolio will go up further by the end of this year,” he disclosed.
Mr. Kpordzih urged the public to visit ADB branches and take advantage of products designed to help grow their businesses and improve the nature of agri-business in the country. “ADB has developed a more sharpened focus on agriculture through the availability of asset financing facilities to assist in the development of a more mechanized agricultural industry in Ghana. In addition, there are other products and lending facilities which have been designed to provide credit to the sector with ease,” he added.
The MD noted that ADB recently began operations on a new banking I.T platform to enhance its capacity for transaction processing and service delivery as part of the bank’s strategic plan to be among the top banks in the country. “The upgrade to this new banking platform now provides ADB with the capability to roll out internet banking and VISA Cards. The Visa Cards will allow customers access to over 1 million ATMs and Point of Sale (POS) terminals in the world”, he said.