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Business News of Thursday, 2 July 2020

Source: 3 News

First National Bank Ghana, GHL Bank merger done deal


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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.

The newly formed and strengthened entity will offer a portfolio of unique innovative financial solutions for retail, corporate and investment banking clients. The bank has also enhanced existing solutions for the housing and real estate markets.

“We are very excited about the work that we have done to-date and the resulting seamless synergies we have achieved with this merger,” says Dominic Adu, Chief Executive Officer of First National Bank Ghana. “We believe that this merger will offer customers the advantage of a broader suite of banking products and services while maintaining our commitment to all our stakeholders.”

A key benefit of the merger is the expanded branch network across the key cities of Accra, Tema, Kumasi and Takoradi. Customers can now access all banking services from a total of eleven branches and on First National Bank Ghana’s world class digital platforms, which make convenient banking services available 24/7.

The Executive Director of First National Bank Ghana, Richard Hudson commented that this merger reaffirms First National Bank Ghana’s focus on helping individuals and businesses achieve their full potential.

“This is an exciting time for us, and we are committed to partnering with our customers on their individual or business journey. There are current challenges impacting general growth and opportunities in the financial services sector, but we believe that our innovative approach to products and the focus on in-house digital banking solutions will give us the competitive edge”, he said.

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