Our Story

In its first decade, BAAC focused on extending short-term and medium-term loans to farmers in a timely manner and expanding geographic coverage to reduce reliance on informal lending with high interest rates.

Financial innovations, particularly the Joint Liability Group mechanism, were introduced as alternative collateral, enabling farmers without land or assets to access loans from BAAC.

To expedite and streamline financial services, BAAC introduced cash credit lines for farmer clients. The Bank also collaborated with government and private-sector partners to provide quality farm inputs, agricultural infrastructure, and marketing linkages for farmers and communities.

Central markets were established in key provinces, and the paddy pledging scheme was launched to delay produce sales and help stabilize agricultural prices.

Financial inclusion played a main role during this period. BAAC expanded financial assistance to small-scale farmers and low-income groups who previously lacked access to formal financial services.

The Bank also developed special lending criteria for vulnerable groups. Recognizing farmers’ weak bargaining power, BAAC, together with the Cooperative Promotion Department, supported the establishment of Agricultural Marketing Cooperatives (AMCs) to strengthen collective purchasing and improve market access.

To enhance service quality, BAAC fostered a service-minded culture among its employees.

In response to increasing financial competition, BAAC revised its operational strategies, leading to amendments to the BAAC Act that expanded its mandate to support non-farm and related agricultural businesses.

The Sufficiency Economy Philosophy was adopted by the Bank, its employees, and customers, strengthening communities and improving service quality. Under this approach, BAAC introduced the “Truth of Life” concept, promoted household accounting, and encouraged community group formation.

During this period, Islamic Banking Funds were also established at selected branches to provide Shariah-compliant financial services.

Committed to rural development, BAAC integrated Sufficiency Economy practices into its operations, focusing on improving the living standards of small-scale farmers.

The Bank expanded financial services to reach broader beneficiaries, including individuals, village funds, communities, and agricultural cooperatives. Communities were encouraged to build self-immunity based on Sufficiency Economy principles.

BAAC also launched the “Do Your Best with Your Customer” campaign to enhance customer satisfaction, strengthened its Code of Conduct, and reinforced organizational culture to support sustainable community prosperity.

BAAC has strengthened its role as a rural financial hub by adopting a customer-centric approach, supporting cooperatives and entrepreneurs to enhance agricultural competitiveness and value-added production.

The Bank has empowered farmers and future generations to become smart farmers, emphasized Go Green policies and Green Credit, and enhanced service efficiency through digital channels and FinTech innovation.

Organizational management and workforce capabilities have been strengthened to drive BAAC’s mission toward “Better Life, Better Community, Better Pride” and “Better Quality of Life, Stronger Communities, and Pride in Agricultural Occupations.”