Ecobank acquires Trust Bank Ghana
Pan-African Ecobank Transnational has acquired 100% stake in The Trust Bank Ghana (TTB) following approval on 9 December 2011.
Under the terms of the transaction, a share swap agreement with Trust Bank's existing shareholders will be executed by ETI for 100% stake in TTB.
Subsequently, a share swap with Ecobank Ghana will be executed wherein ETI will transfer its 100% stake in TTB to Ecobank Ghana in exchange for shares in Ecobank Ghana.
A new Board of Directors of TTB includes Sam Ashitey Adjei, managing director of Ecobank Ghana as chairman, and Emelia Atta Fynn will assume the role of acting managing director.
Prior to the new position, Emelia served as head of Compliance on the executive management committee of Ecobank Ghana as well as a Country and regional Treasury.
On 20 January 2012, necessary resolutions to effect the transaction will be passed during a scheduled Extraordinary General Meeting (EGM).
The combined Ecobank Ghana and TTB will be the largest bank in Ghana in terms of assets with the largest ATM network and over 70 branches.
Related Insight
Suppliers Directory
Wealth & Assets Management Asset Management Hedge Funds Private Equity Mutual Funds
Intermediaries Prime Brokerages Custody & Clearing ECN & Exchanges
Technology Banking Technology Security Tech Outsourcing & BPO
Policies & Regulatory Compliance Risk Management
Commercial Banking Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Buy online from $125
Comments may be moderated for spam, obscenities or defamation.