ADB Press Release

ADB To Switch To E-Banking In July

The Agricultural Development Bank (ADB) is to migrate onto a higher-grade information technology software to complete the process of achieving the e-banking application by the bank in July this year.

The Board Chairman of ADB, Alhaji Ibrahim Adam, disclosed this at the inauguration of three new branches of the bank at Danquah Circle and Nima in Accra and Kasoa in the Central Region yesterday.

He said the 2010 financial performance of the bank attested to the success of its new strategic direction.

“We reported a significantly improved performance in profits, returns on assets and equity and key balance sheet indicators. On the strength of the strong profit out-turn, the Directors declared a dividend payment of 30 percent or almost GH¢10.0 million to shareholders,” he added.

Alhaji Adam further stated that the new worth of the bank improved by 17.8 percent, as Shareholders’ Funds increased to GH¢143.2 million.

The Managing Director, Mr. Stephen Kpordzih said the opening of the new branches was a continuation of the bank’s strategic nationwide branch network expansion to increase the spread, reach, accessibility and visibility of the bank and also enhance service delivery and customer responsiveness throughout the ADB network.

He adid the bank was on the way to developing end-to-end customer service delivery with new electronic, one-stop solutions, service quality monitoring and a commitment to service standards.

The Greater-Accra Regional Minister, Nii Ahietey Armah, noted that the government had pursued prudent financial policies that had resulted in the attainment of macro-economic stability in the country.

“It is up now up to the private and investor community to take advantage of the good foundation that we have laid over the past two years,” he said.

“I have encouraged the assemblies in the region to go into joint business ventures with financial institutions to generate more revenue and employment opportunities,” he added.

He appealed to ADB to consider increasing the level of support in the areas of education and health and the provision of social amenities, especially in deprived communities.

He advised the management and staff of the bank to give customers first-class services. 

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