The Agricultural Development Bank (ADB) has dropped its base rate from 21.95 per cent to 20 per cent in response to the government's call for lower interest rates and the improvement in the economy.
It is also to bring tremendous relief to its customers and boost their business.
Mr. Stephen Kpordzih, Managing Director of the bank made this known at the launching of the Kumasi Nhyiaeso branch of the bank last Friday.
He assured customers of monitoring the developments in the economy and review rates accordingly.
In addition to the wide range of banking services offered within its network, Mr. Kpordzih explained that 'â€œADB has positioned itself to meet the needs of high net worth individuals in this part of the country for enhanced products and services''Â.
He said the Danquah Circle branch in Accra and the Nhyiaeso branch in Kumasi are the only ones in the bank's network specifically equipped to provide Executive Banking service and other high profile service.
Dr. Kwaku Agyemang-Mensah Ashanti Regional Minister, urged the Bank to explore avenues towards making its services attractive to encourage people and business establishments to do business with the bank.
â€œGovernment recognizes the role of ADB as a principal agricultural financing institution in the country and expects that the bank will continue to support the Government in its strategy to modernize agricultural production in the country,''Â he said.
Mr. Agyemang-Mensah stressed on the need for the management to adopt measures to ensure that the usual bureaucratic and long waiting periods associated with banking services, give way to a more proactive and customer oriented products.
He advised the staff â€œas much as you have a responsibility to contribute to the overall objective of ADB, the development of the business and economic life of the people and the business community in the region is what will guarantee their continued employment''.