AmalBank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
AmalBank
Type Private
Industry Financial Services
Founded 1997
Headquarters Accra, Ghana
Key people Stephan Ata
Chairman
Menson Torkornoo
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseUS$8.5 million (2008)
Total assets US$300+ million (2011)
Website Homepage

Amalgamated Bank Limited, commonly known as AmalBank, is a commercial bank in Ghana.

History[edit]

The bank was incorporated in 1997. In 2006, 49% shareholding in AmalBank was purchased by Meeky Enterprises of Nigeria. Meeky is also a major shareholder in Oceanic Bank, one of Nigeria's leading financial services providers.[1] In 2007, the total asset valuation of AmalBank was estimated at US$ 136 million.[2] In June 2009, it was reported in the online Ghanaian publication "Public Agenda" that the total assets of AmalBank had doubled in 2008.[3] It is therefore estimated that the total assets of the bank, as of June 2009, is approximately US$272 million.

Acquisition by Bank of Africa Group[edit]

In April 2011, majority shareholding (60%) in AmalBank was acquired by the Bank of Africa Group. AmalBank is currently in the process of re-branding to Bank of Africa (Ghana)[4]

Branch Network[edit]

As of May 2011, the bank has nineteen (19) branches and one agency in the following locations: [5]

  1. Head Office - Farrar Avenue, Accra
  2. Kumasi Office - 24th February Road, Kumasi
  3. Maamobi Office - Nima Highway, Accra
  4. New Town Office - Hill Street Intersection, New Town
  5. Central Accra Office - Ollivant Arcade, Accra
  6. Ridge Office - Kanda Highway Extension, Accra
  7. Michel Camp Road Office - Aseidua Plaza, Tema
  8. Tamale Office - Daboya Street, Tamale
  9. Osu Office - Cantonments Road, Osu
  10. Takoradi Office - Market Circle, Takoradi
  11. Kwashieman Office - Motorway Extension, Accra
  12. East Legon Office - Lagos Avenue, Accra
  13. Spintex Business office
  14. Adum Business office
  15. Tema Business Office
  16. Dansoman Business Office
  17. Madina Business Office
  18. Abossey Okai Business Office
  19. Sokoban Agency, Kumasi

See also[edit]

References[edit]

External links[edit]