Agricultural Development Bank of Ghana, commonly known as Agricultural Development Bank or ADB, is a government-owned development and commercial

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

Ghana Ghana, officially the Republic of Ghana, is a country in West Africa. It is situated along the Gulf of Guinea and the Atlantic Ocean to the south, and shares borders with Côte d’Ivoire to the west, Burkina Faso to the north, and Togo to t ...

. The

is the first development finance institution established by the

Government of Ghana The Government of Ghana was created as a parliamentary democracy, followed by alternating military and civilian governments in Ghana. In January 1993, military government gave way to the Fourth Republic after presidential and parliamentary elect ...

. It is the developmental finance institution that provides technical and financial services to agribusiness, farmers, and other enterprises at the rural communities. It is one of the

commercial banks A commercial bank is a financial institution that accepts Deposit (finance), deposits from the public and gives loans for the purposes of consumption and investment to make a Profit (economics), profit. It can also refer to a bank or a division o ...

licensed by the Bank of Ghana, the national banking regulator. The main objective of the bank is promoting and financing of agribusiness in the country.

History

ADB was established in 1965, by the Act of Parliament (Act 286) as the Agricultural Credit and Cooperative Bank. This is to meet the banking needs of the

ian agricultural sector in a profitable manner. The bank started operations from a building on Tunisia Road, West Ridge - Accra. The bank changed its name in 1970 when the parliamentary statute was amended to grant the institution full commercial banking powers. In 1967, the National Liberation Council (NLC Decree 182) renamed it from the Agricultural Credit and Cooperative Bank to the Agricultural Development Bank, and amended key sections of the Establishing Act, Act 286. By 1990, the bank became more diversified and added international banking and trade services to its growing product portfolio. The bank obtained the Universal Banking license and broadened its services in 2004. In 2011 the branch network of the bank expanded from 55 to 78 branches across the country, with fully networked branches running on an ICT platform. Around the same time, the bank introduced the ADB Visa Classic Card, allowing cardholders to transact business anywhere in the world.

Overview

The bank is a large development and commercial bank. , ADB was the leading financial institution in agricultural financing in Ghana, responsible for 35% of the total bank industry financing of agriculture. In September 2010, the bank was recognized as Bank of the Year at the Africa Investor

Agribusiness Agribusiness is the industry, enterprises, and the field of study of value chains in agriculture and in the bio-economy, in which case it is also called bio-business or bio-enterprise. The primary goal of agribusiness is to maximize profit ...

Awards, in

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South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

, the first institution so recognized by this annual event. The total assets of the institution at the end of December 2011 were valued at approximately US$683.6 million (GHS: 1.21 billion). The bank is currently looking to list on the Ghana Stock Exchange, and is awaiting government approval to be listed.

Ownership

The bank's

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

is owned by the following entities:

Products and services

The bank engages in other types of banking in addition to making agricultural loans. The range of services offered include development banking, corporate banking, personal banking, international banking, diaspora banking services, treasury management services, and money transfer services, in partnership with

Western Union The Western Union Company is an American multinational financial services corporation headquartered in Denver, Denver, Colorado. Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the co ...

Branch network

The bank maintains a network of 85 branches located in all areas of

Awards and recognition

* 2020 Ghana Cocoa Awards - Best Cocoa Financing Institution

References

External links

*
Website of Bank of Ghana

{{DEFAULTSORT:Agricultural Development Bank Of Ghana Banks of Ghana Companies based in Accra Banks established in 1965 1965 establishments in Ghana