As the ADB celebrates 50 years of existence a reflection into its history reveals that the development of the Bank is closely linked to the advancement in society over time. The organization has its origins in the early 1800s when it was known as the Agricultural Bank. In 1945, the name of the Bank was changed to the Agricultural Credit Bank as its powers were expanded to allow it to provide funding for the purchase of land. In 1965, the name of the Bank was again changed to the Agricultural Development Bank when the ADB Act was created; this Statute was enacted in 1968.
Today, the Bank boasts of a network of five (5) branches, strategically located in key geographic areas in Trinidad and Tobago. The organization has grown to an asset size in excess of $680Mn with a loan portfolio of $380Mn. Over the years, the Bank has been served by a cadre of Directors who were responsible for charting the strategic direction of the organization. Its growth has also been enabled by its various staff members who have provided yeoman service to this date.
The future strategic direction of the Bank will be built upon ensuring an expansion of its customer base through an understanding of the needs of its clients. The Bank will continuously review its processes and structure to support this strategic direction and seek to foster relationships with key stakeholders, in pursuit of Government’s vision to diversify the National Economy.
As we position the ADB to serve our country into the future it is indeed a pleasure, and an honour, for me to serve this great organization which is rich in history and has provided dedicated support to national development. I salute all our stakeholders who have been part of this development as we prepare to Grow Stronger Together Beyond 50.