The Trust Bank
| 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 |
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[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.
External links
[edit]- Website of The Trust Bank
- Website of Bank of Ghana
- List of Commercial Banks In Ghana
- Bank Lending Rates Still High
