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ADB We’re not sacrificing agric financing for universal banking- ADB MD

With Mr. Asiedu’s background being a lot more in universal banking, there are some concerns that ADB’s emphasis on Agric would be sacrificed for universal banking services.

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The Managing Director of the Agricultural Development Bank has allayed fears that the bank has shifted focus from agric financing to the provision of universal banking services.

With Mr. Asiedu’s background being a lot more in universal banking, there are some concerns that ADB’s emphasis on Agric would be sacrificed for universal banking services.

In an exclusive interview with Pulse.com.gh, Mr. Asiedu said the Agricultural Development Bank still places emphasis on financing agricultural activities, but has, as a strategy, prioritized universal banking services in order to meet the varied needs of the Ghanaian Banking sector.

READ MORE: Agriculture in Ghana When ADB sneezes, Ghana's Agric sector catches a cold

 “No. Its not like there is a special emphasis on Universal banking, ADB is just trying to serve all parts of the economy, and providing all services that will lead to greater satisfaction of the banking community.”

Mr. Asiedu added that “Years ago, we used to have banks having specific banking licenses. So there were banks with developmental licenses, others with commercial banking licenses. But now, we[banks] are all given universal banking licenses, which means we can provide all kinds of banking services. So what ADB has done is to be aggressive on universal banking meaning commercial, and all that, and beyond that, we are  still strong in the Agric that we are known for. And I think that gives us an advantage over other competitors.”

Mr. Asiedu believes that ADB’s ability to serve both gives the bank a competitive advantage over its counterparts on the market.

Daniel Asiedu was appointed MD of the Agricultural Development Bank after the board decided not to renew the appointment of former MD, Stephen Kpordzih.

Though, Mr. Asiedu’s appointment in January, 2016, came at a time when ADB was embroiled in a complicated Initial Public Offering, he has been able to calm the waters, gained the loyalty of the workers and introduced innovative customer service initiatives. The most impactful being the increase of service hours from 8:30am and 4pm, to 8am and 5pm, as well as the extension of Saturday banking to over 60 branches across the country.

Watch out for a one-on-one personality interview with Mr. Daniel Asiedu on Pulse.com.gh, Tuesday August 9, 2016.

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