The Agricultural Development Bank (ADB) PLC has launched a new corporate strategy with a commitment to strengthen agribusiness financing to accelerate the achievement of its vision “to be the people’s bank, harnessing the transformational power of agribusiness for wealth creation”.
The new corporate strategy, which was considered and approved by the Board of Directors of the Bank, replaces a 3-year strategy that expired on December 31, 2022.
It is anchored on a theme “Going Above and Beyond the Predictable”, and has nine pillars to guide the direction of the Bank for the next few years; a statement issued by the bank and copied the Ghanaian Times said.
It is aimed at enhancing the bank’s dominance as the leader in agribusiness financing in the country, and at the same time leveraging technology to reposition its Retail and Digital Banking space.
Other key focus areas include financial performance, process improvement to enhance turnaround time, risk management, and customer experience.
In his brief remarks at the launch, the Managing Director, Alhaji Alhassan Yakubu-Tali, reiterated the bank’s commitment to agribusiness financing, saying, “As the people’s bank, harnessing the transformational power of agribusiness for wealth creation, ADB is taking necessary steps to strengthen its dominance as a leader in agribusiness financing in Ghana”.
“ADB will continue to remain leader and dominant in agribusiness financing across the entire agricultural value chain,” he added.
In the area of digital and retail banking, Alhaji Yakubu-Tali announced that “ADB has rolled out strategies towards improving its digital and retail banking segments in order to enhance convenience and service delivery”.
“The bank will also leverage strongly on technology and other channels to extend banking services to non-banked or underserved areas,” he added.
The Managing Director stated that the current happenings at the world stage, ranging from COVID-19, the Russia-Ukraine war, the slowdown in the global economy, high inflationary pressures, exchange rate challenges, and the domestic debt exchange programme by the government, among others, required strategic decisions to make the Bank competitive and meet its performance indicators.
Thus, the new corporate strategy will serve as a blueprint to ensure that the bank grows above and beyond the predictable.
Alhaji Yakubu-Tali commended the bank’s cherished customers for their loyalty and continuous trust in the ADB brand, its products and services.