The Agricultural Development Bank (ADB) has lowered 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 relief to its customers and boost their business.
Mr. Stephen Kpordzih, Managing Director of the bank, made this known at the of the Nhyiaeso branch of the bank in Kumasi.
He assured customers of monitoring developments in the sector and economy and reviews its rates accordingly.
In addition to the wide range of banking services offered within its network, Mr. Kpordzih explained that “ADB has positioned itself to meet the needs of high net worth individuals in this part of the country for enhanced products and services”.
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 services.
Dr. Kwaku Agyemang-Mensah, Ashanti Regional Minister, urged the bank to explore avenues towards making its service, attractive to encourage people and establishments to do business with the bank.
“Government 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,” 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, in the country give way to a more proactive and customer oriented products.