Tag: merger
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FNB finalises merger with GHL Bank
First National Bank Ghana has confirmed the conclusion of the merger with its subsidiary, GHL Bank. The merged entity will be known as First National Bank Ghana. According to a statement from First National Bank, the newly formed and strengthened entity will offer a portfolio of unique innovative financial solutions for retail, corporate and investment…
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First National Bank acquires GHL Bank
First National Bank (FNB) Ghana, has acquired hundred percent of GHL Bank. This therefore makes GHL Bank a subsidiary of First National Bank Ghana. A statement to Citi Business News confirmed the move, saying, the transaction has been approved by the boards of the two banks and has received the required regulatory approvals from the…
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Energy Commercial bank, First Atlantic Bank to merge for GH¢400m capital
Energy bank and First Atlantic bank have begun merger talks in order to raise the 400 million cedis minimum capital requirement for banks. Citi Business News understands that a Memorandum of Understanding (MoU) has been signed awaiting further action from the two sides. Per the MoU, Energy Commercial Bank and First Atlantic Bank will join…
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adb workers want President to pull breaks on merger with NIB
The Professional and Managerial Staff Union (PMSU) of adb has petitioned President Akuffo Addo to intervene in the planned merger of adb and NIB into one entity. The workers’ union is protesting the creation of a National Development Bank through a merger of the two state owned banks. Meanwhile the Minister of Finance says the government is yet…
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Airtel, Tigo merger to solidify telecom industry
The new entity to be formed following the merger of Tigo and Airtel should improve service delivery in Ghana’s telecommunications industry. The move should also build larger institutions to deepen competition and give value for money. This is the assertion of the Marketing Director at Airtel, Rosy Fynn. Madam Fynn also believes the coming in…