PM Mahathir unveils Agrobank’s new vision, mission

KUALA LUMPUR, Prime Minister Tun Dr Mahathir Mohamad has unveiled Agrobank's new vision and mission to mark its Golden Jubilee anniversary.

The bank's new vision aspires to empower agriculture beyond banking, while its mission is to provide ongoing support for the benefit of the community, economy and stakeholders.

Earlier, Agrobank president and chief executive officer Khadijah Iskandar said as espoused by the new vision and mission, Agrobank will continue to deliver good banking solutions to create positive value and impact on the community, economy, environment and interested parties.

We are looking forward and ready to develop the country's agricultural sector, she said at a ceremony to mark the occasion here tonight.

Agriculture and Agro-based Industry Minister Datuk Seri Salahuddin Ayub was present.

Khadijah said in terms of financial achievements, Agrobank continued to record profit every year, with expected pre-tax profit of RM200 million this year.

Until 2019, Agrobank's financial assets have reached more than RM11 billion, which is well above its target assets for 2020, she said.

She said in terms of quality of its financial assets, Agrobank succeeded in reducing the rate of its non-performing loans from 22 per cent for 2011 to just four per cent in 2019.

Agrobank's journey began with the establishment of Bank Pertanian Malaysia in August 1969. It was renamed Agrobank on April 1, 2008 with the corporatisation of Bank Pertanian Malaysia Bhd.

Its network of 192 customer touch points is made up of 138 branches, one agro banking, one virtual banking, 10 commercial financing centres, 34 kiosks, eight corners, and agro centres.

Source: Office of the Prime Minster Malaysia