First National Bank has acquired the GHL bank.
In effect, GHL Bank becomes a subsidiary of First National Bank Ghana, effective Tuesday, May 5, 2020
In a statement signed by the Chief Executive Officer of First National Bank Ghana, Richard Hudson, says it has received the required regulatory approvals from the Bank of Ghana and the South African Reserved Bank with transaction also approved by boards of the two banks.
First National Bank Ghana is a 100 per cent subsidiary of the FirstRand Group, the largest financial institution group as measured by market capitalization in Africa.
Mr. Hudson also indicated that “Plans are well underway to merge the operations of the two banks. We further believe that this merger will demonstrate and further cement our commitment to the Ghanaian market. We recognize that the economy is under a lot of pressure as a result of the COVID-19 pandemic, but we remain excited about the future of banking in Ghana.”
The statement further mentioned that new developments will be communicated in due course.
Again, customers of both banks have being asked to continue doing business with their respective banks.
Story by: Nicholas Brown | universnewsroom.com