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]
| Company type | 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 |
Overview edit
TTB is a medium-sized financial services provider in Ghana. As of December 2009[update], 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]
| 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[update], The Trust Bank maintains a network of twenty (20) networked branches at the following locations:[4]
- Main Branch - Reinsurance House, 68 Kwame Nkrumah Avenue, Accra
- Trust Towers Branch - Sobukwe Road (Farrar) Avenue, Accra
- Okofo House Branch - Kwame Nkrumah Avenue, Adabraka, Accra
- Kantamanto Branch - Tarzan House, Near Hotel De Horses, Accra
- Tesano Branch - Tesano, Accra
- Madina Branch - Old Road Taxi Rank, Accra
- Tema Community 1 Branch - Community 1, Tema
- Tema Main Branch - Hospital Road, Tema
- Sakumono Branch - Ocean Wave Hotel, Sakumono
- Post Office Square Branch - Opposite General Post Office, Accra
- Budumburam Branch - Budumburam, Central Region
- Harper Road Branch - Harper Road, Adum, Kumasi
- Suame Magazine Branch - Offinso Road, Suame, Kumasi
- Ashhtown Branch - Dr. Mensah Traffic Light, Kumasi
- Kwashieman Branch - Kwashieman, Accra
- Kissieman Branch - Kissieman, Near J. B. Plaza
- Dede Plaza Branch - Spintex Road, Accra
- Kwabenya Branch - Kwabenya, Accra
- Okponglo Branch - Okponglo, Accra
- 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
- ^ List of Licensed Commercial Banks In Ghana
- ^ The Trust Bank Financial Highlights
- ^ Shareholding In The Trust Bank Limited
- ^ Branches of The Trust Bank
- ^ "Bank of Ghana approves ECOBANK's takeover of TTB". ModernGhana.com. Retrieved 2017-08-17.