ARB Apex Bank
{{Multiple issues|
{{more citations needed|date=April 2017}}
{{notability|Companies|date=April 2017}}
}}
{{Use dmy dates|date=August 2019}}
{{Infobox company
| name = ARB Apex Bank
| native_name = ARB Apex Bank Limited
| founded = {{start date and age |2001}}
| type = State owned company
| industry = Financial services
| logo =
| logo_size =
| key_people = James Kwame Otieku (Chairman)
| location = No. 5, 9th Road, Gamel Abdul Nasser Avenue
| location_city = Accra
| location_country = Ghana
| num_employees =
| num_employees_year =
| website = {{URL|http://www.arbapexbank.com}}
}}
ARB Apex Bank is a Ghanaian wholesale bank that provides funding and coordination to the Rural & Community Banks (RCBs) in Ghana. In effect it acts as a mini central bank to the Rural banks in Ghana.{{Cite web
|url=http://www.arbapexbank.com/
|title=About us
|website=ARB Apex Bank Limited
|accessdate=17 May 2018
}} The acronym ARB stands for the Association of Rural Banks.{{Cite web
|url=https://www.devex.com/organizations/arb-apex-bank-limited-28662
|title=ARB APEX BANK LIMITED
|publisher=Devex
|accessdate=16 March 2017
}}
In Ghana, rural banks are financed mainly via the Rural Financial Services Project (RFSP), that is a project of the government to solve the operational problems of the rural financial sector.
Every Rural and Community bank in Ghana was mandated to contribute two thousand Ghana cedi to buy shares of the ARB – Apex bank Ltd, to enable the bank become accountable to the rural and community banks. So every rural and community bank in Ghana owns two thousand Ghana cedi worth of shares in Apex Bank. The remaining shares of the bank are also owned by the government of Ghana.
History
In 1969, the All India Rural Credit Review Committee recommended that Apex co-operative banks directly finance co-operative societies.{{cn|date=August 2023}}
- January 2000 - bank was registered as a public limited liability company
- June 2001 - received a banking license
- August 2001 - admitted to the Bankers Clearing House as the 19th member.
- March 2021 - admitted into the Ghana-Sweden Chamber of Commerce.{{Cite web|title=ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce|url=https://www.graphic.com.gh/business/business-news/arb-apex-bank-admitted-to-ghana-sweden-chamber-of-commerce.html|access-date=2021-03-19|website=Graphic Online|language=en-gb}}
It started its banking business on 2 July 2002.{{cite web
| url =https://www.businessghana.com/site/directory/banks/2251/ARB-Apex-Bank
| title =ARB Apex Bank
| website =Business Ghana
| access-date =17 May 2018
| quote =The ARB Apex Bank commenced banking business on 2nd July, 2002. }} In 2018, it claimed to be the first bank in Ghana to issue bank cards to EMV standards which allow payments on the Gh-link platform.{{cite web
| url =https://thebftonline.com/business/arb-apex-bank-first-to-roll-out-gh-link-emv-standard-technology/
| title =ARB Apex Bank first to roll out GH-Link EMV standard technology
| last =Krampah
| first =Seth
| date =22 January 2018
| website =Business & Financial Times Online
| publisher =Business & Financial Times Limited
| access-date =17 May 2018 }}
Operations
The apex financial institution lends cash to rural banks who, in turn, provide small credit to small businesses and also support the development of rural projects.{{Cite web |last=Adeaga |first=Favour |date=2020-06-02 |title=ARB Apex Bank Ghana branches and their contact details |url=https://yen.com.gh/158341-arb-apex-bank-ghana-head-office-branches-app-contacts.html |access-date=2023-07-19 |website=Yen.com.gh - Ghana news. |language=en}}
Besides the head office, there are ten branch offices throughout the country, including locations in Bolgatanga, Hohoe, Koforidua, Cape Coast, Kumasi, Sunyani, Takoradi, Wa, Tamale, and Accra.