ADB Press Release

ADB Strengthens Network With Five New Branches

The Agricultural Development Bank (ADB) has, within a week, inaugurated five new branches of the bank in various parts of the country, in line with a strategy to strengthen its branch network.

These were ar Nima and the Danquah Circle in Accra, Kasoa in the Central Region, Nhyiaeso in Kumasi and Agona Nkwanta in the Western Region.

In addition to the normal banking services, the Danquah Circle  and the Nhyiaeso Branches come with an exciting package as the only two ADB branches that provide Executive Banking services for high networth individuals in the bank’s catchment areas.

By July 1, 2011, the bank envisages to have migrated onto an improved IT platform to support decision-making and speedy delivery of customer services.

The Managing Director of ADB, Mr. Stephen Kpordzih, said given the spread of the Western Region, as well as its potential for food and industrial crop farming, mining, agro-processing, manufacturing and service activities, “ADB is particularly interested in deepening its financing and banking services within the region.”

He said in response to the government’s call for lower interest rates and improvement in the economy, ADB had dropped its base rate from 21.95 percent to 20 percent.

“This should bring tremendous relief to our customers and boost their business. We shall continue to monitor developments in the economy and review our rates accordingly,|” he said.

The Ashanti Regional Minister, Dr. Kwaku Agymena-Mensah, who graced the inauguration of the Nhyiaeso branch, said, “the extension of the operations of the ADB to Nhyiaeso presents a win-win situation for the bank and its customers.”

He commended the board, management and staff of the bank for their efficient performance in recent times and expressed the hope that the bank would take advantage of the conducive economic environment to partner with the government to help build the capacity of small and medium enterprise4 (SMEs), particularly agro-businesses, to make them more competitive.

He, however, urged the management of the bank to adopt measures that would ensure proactive and customer-oriented services, rather than bureaucratic and the long waiting associated with banking services.

Mounting the podium at the inauguration of the Agona Nkwanta Branch, the Western Regional Minister, Mr. Paul Evans Aidoo, said for a bank to expand its operations by opening more branches amploy demonstrated the effectiveness of ADB in deposit mobilization and prudent management of customers’ deposits.

“This is commendable and I hope that others will emulate the operational capabilities of the ADB to mobilize more deposits from unbanked small-scale business people and kelp reduce the incidence of holding on to cash outside the banks,” he noted.

The Board Chairman of ADB, Alhaji Ibrahim Adam, urged the Agona Nkwanta community to patronize the bank. 

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