The Trust Bank

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The Trust Bank
Private
Industry Financial Services
Founded 1996
Headquarters Accra, Ghana
Key people
Albert D. Osei
Chairman
Larry Yirenkyi-Boafo
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Total assets US$204.7+ million (2009)
Number of employees
411 (2010)
Website Homepage

The Trust Bank Limited, commonly known as The Trust Bank (TTB), is a commercial bank in Ghana. It is one of the twenty-seven (27) commercial banks licensed by the Bank of Ghana, the banking regulator in the country.[1]

Overview[edit]

TTB is a medium-sized financial services provider in Ghana. As of December 2009, the bank's total assets were valued at approximately US$205 million (GHS:311.75 million), with shareholder's equity of about US$27 million (GHS:40.73 million).[2]

History[edit]

The bank was founded in 1996 and commenced provision of banking services on 14 October 1996, following the issuance of a banking license by the Bank of Ghana. The Trust Bank is a retail bank that focuses on meeting the banking needs of small and medium-sized enterprises (SMEs).

Ownership[edit]

The shares of stock of TTB are owned by Ghanaian and International corporate investors. The shareholding in the bank is depicted in the table below:[3]

The Trust Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Social Security and National Insurance Trust of Ghana (SSNIT) 61.14
2 Holding COFIPA based in France 13.50
3 Netherlands Development Finance Company (FMO) 10.00
4 Ghana Re-Insurance Company Limited 09.36
5 African Tiger Mutual Fund of Ghana 06.00
Total 100.00

Branch Network[edit]

As of February 2011, The Trust Bank maintains a network of twenty (20) networked branches at the following locations:[4]

  1. Main Branch - Reinsurance House, 68 Kwame Nkrumah Avenue, Accra
  2. Trust Towers Branch - Sobukwe Road (Farrar) Avenue, Accra
  3. Okofo House Branch - Kwame Nkrumah Avenue, Adabraka, Accra
  4. Kantamanto Branch - Tarzan House, Near Hotel De Horses, Accra
  5. Tesano Branch - Tesano, Accra
  6. Madina Branch - Old Road Taxi Rank, Accra
  7. Tema Community 1 Branch - Community 1, Tema
  8. Tema Main Branch - Hospital Road, Tema
  9. Sakumono Branch - Ocean Wave Hotel, Sakumono
  10. Post Office Square Branch - Opposite General Post Office, Accra
  11. Budumburam Branch - Budumburam, Central Region
  12. Harper Road Branch - Harper Road, Adum, Kumasi
  13. Suame Magazine Branch - Offinso Road, Suame, Kumasi
  14. Ashhtown Branch - Dr. Mensah Traffic Light, Kumasi
  15. Kwashieman Branch - Kwashieman, Accra
  16. Kissieman Branch - Kissieman, Near J. B. Plaza
  17. Dede Plaza Branch - Spintex Road, Accra
  18. Kwabenya Branch - Kwabenya, Accra
  19. Okponglo Branch - Okponglo, Accra
  20. Kasoa Branch - Kasoa

Takeover and merger[edit]

In December 2011, the Bank of Ghana approved the takeover of The Trust Bank by Ecobank Transnational and the merger of the acquired institution with Ecobank Ghana.[5]

See also[edit]

References[edit]

External links[edit]