FBNbank Ghana limited receives us$72.5 million capital injection from parent bank

Wed, 5 Dec 2018 Source: FBN Bank

FBNBank Ghana Limited has received an inflow of US$72.5 million from its parent bank, First Bank of Nigeria to shore up its capital to meet the Bank of Ghana’s new minimum capital requirement. The bank is liaising with the Bank of Ghana and other government agencies in order to obtain the necessary approval.

This was disclosed in a statement issued by the Managing Director of the Bank, Mr. Gbenga Odeyemi.

“FBNBank Ghana Limited is delighted to announce to its stakeholders, customers and the general public that it has received capital injection from First Bank of Nigeria Limited, its parent bank to enable it meet the Bank of Ghana’s revised minimum capital requirement for recapitalisation,” the statement added.

It would be recalled that in September 2018, the Managing Director of the bank assured the general public that FBNBank Ghana Limited was committed to meeting this requirement before the stipulated deadline of December 31, 2018.

With this, FBNBank Ghana Limited is in a pole position and remains a solid and a dependable financial partner with a strong financial base.

Mr. Odeyemi further stated that, FBNBank Ghana Limited remains resolute in its quest to put its customers and stakeholders at the heart of the bank’s business and the clear leader and Ghana’s bank of first choice that delivers value and excellence.

FBNBank Ghana Limited is a subsidiary of First Bank of Nigeria Limited, a sub-Saharan African premier banking brand with over 124 years’ experience in banking and finance.

The bank currently has 19 branches and 2 agencies across the country.

About First Bank of Nigeria Limited

Founded in 1894, First Bank of Nigeria Limited (FirstBank) is reputed for its heritage, dependability and strong corporate governance. It operates an extensive distribution network with over 700 business locations (617 branches, 63 quick service points and 67 cash centres/agencies), over 2,500 ATMs and over 10 million customer accounts.

First Bank of Nigeria Limited provides a comprehensive range of financial services and has international presence through its subsidiaries, FBNBank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, The Gambia, Guinea, Sierra-Leone and Senegal as well as its Representative Office in Beijing.

Source: FBN Bank