The Agricultural Development Bank (ADB), in its drive to increase its presence in the northern sector of the country, has opened a new branch at Bole.
The launch of the Bole branch brings the total number of branches in the sector to 10.
Stephen Kpordzi, Managing Director of ADB, speaking at a ceremony to formally open the office to the public, said the move is a clear indication of the bank�s commitment towards the development of agriculture in communities which play a crucial role in the overall business of agriculture in Ghana.
The branch network expansion programme, he noted, is also to help attract more of the unbanked population and give customers more locations to do banking with ADB.
�In addition, it gives us the urge to increase deposit mobilization and in turn lend more to customers,� he said.
The managing director stated that in spite of its quest to attain the highest heights in universal banking, ADB continues to remain the number one financier in the agric sector.
The objective of the plan, he noted, is to increase the share of agriculture in the bank�s credit portfolio to 40 per cent.
�It is also significant that ADB has positioned itself to lead in the design and implementation of collaboration and corporation among key stake holders in agriculture and development finance,� he said.
In line with this, the bank would continue in its effort of identify potential synergies and share information to improve business delivery and strategic policy implementation.
�The essence is to improve the entire value-chain process, production, processing and marketing of agricultural produce. This is underlined in particular by our sponsorship of the National Food and Agricultural Show (FAGRO) last year and this year as well.�
ADB, he mentioned, 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.
Additionally, the bank has other products and lending facilities which have been designed to provide credit to the agricultural sector with ease.
�We also strive to satisfy and ensure the convenience of our customers with the introduction of easy payment solutions such as QuickPay school fee payment solution, eVouchers for online tertiary admission form sales, NLA FastPay for the payment of NLA mobi-game and automation winners and NLA FastCredit to provide instant credit top up for NLA POS terminals.�
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