AgriBank PLC is a regulated credit institution in Malta, dedicated to providing asset finance to the UK agricultural industry. Its main business is the provision of asset finance to land owning farmers in the UK for the purchase of agricultural machinery and equipment, financing the construction of buildings, land purchasing and also financing on farm energy projects. Typical products are structured as financial leases, hire purchase agreements and secured loans. AgriBank was founded late in 2012 by Frank Sekula, an experienced banker with UK farming background. Frank has successfully built and managed a number of financial services businesses during his twenty five year career with global financial institutions such as Barclays Capital.  

COMPETITIVE STRENGTHS 

•    Strong Agricultural Market Fundamentals. Agriculture is at the core of the food industry, is backed by strong land values, benefits from long term planning and enjoys strong governmental support. 

•     Experienced Management Team. The management team is highly experienced with proven track record in the banking sector. 
•     Highly Regulated and Efficient Environment. All banking operations are located in Malta, providing AgriBank with a robust regulatory framework, a highly efficient operating base and access to high quality banking personnel.  

BUSINESS STRATEGY  

AgriBank shall endeavour to become the leading UK agricultural asset finance provider by executing the following strategy: 

•     Funding through Retail Deposits. As from 2015, AgriBank is actively gathering retail deposits in Sterling, mostly from the UK market. 

•     Expand Client Base. AgriBank has recently embarked on a program to expand its client base by reaching out for a number of established UK brokers of agricultural lending, apart from setting up AgriFinance Ltd., which shall be its main broker in the UK. 

•     Match Fund Its Asset Book. AgriBank will raise debt funding in GBP Sterling with maturities of three years or greater which will eliminate currency and liquidity risk by matching the currency and duration of its assets and liabilities.

 •     Attentively Manage Credit Risk. The Bank's Credit Risk Committee evaluates every proposal before any lending is put on the Bank's balance sheet.

 •     Closely Monitor Overheads. AgriBank's overhead structure and cost base is carefully managed to ensure that profitability is achieved in various interest rate cycles.

BUSINESS DESCRIPTION

AgriBank targets the 16,000 larger UK farms that account for 85% of UK farm production for its asset finance products. This is done through a number of experienced brokers, which have long standing relationships with several regular users of agricultural asset finance.

Customers are categorised as sole traders, partnerships and limited companies. AgriBank also targets farming contractors who perform services to UK agriculture such as contract farming, drilling, spraying or combining and finances high quality agricultural machinery rental companies.

AgriBank is generally the second bank to its clients as it does not offer typical "high street" banking services such as current accounts, overdrafts, credit cards or global payments. The typical customer will have an asset finance contract with AgriBank to improve financial flexibility by reducing the drawings on their core revolving credit facility.

CORPORATE GOVERNANCE

BOARD OF DIRECTORS

The Board of Directors is composed of six members as follows:

 Isabella Sant acts as Secretary to the Board. The Board of Directors is assisted by two Board Committees.