First Atlantic Bank
{{short description|Ghanaian commercial bank}}
{{EngvarB|date=April 2020}}
{{Use dmy dates|date=April 2020}}
{{Infobox company
| name = First Atlantic Bank
| logo =
| logo_size = 250px
| type = Private
| traded_as =
| foundation = {{start date and years ago|1995}}
| location = 1 Seventh Avenue, Ridge West, Accra, Ghana
| key_people = Mr. Amarquaye Armar
Chairperson
Odun Odunfa
Managing Director
| num_employees = 600+ (2020){{cite web| url=https://firstatlanticbank.com.gh/fabpage.php?page=7 | title=First Atlantic Bank Ghana: Careers |publisher=First Atlantic Bank Ghana |date=9 April 2020 |author=First Atlantic Bank |access-date=9 April 2020 |location=Accra}}
| assets = GHS:2.42 billion (Q3:2019)
| revenue = {{profit}}Aftertax:GHS28,016,000 (Q3:2019)
| industry = Financial services
| products = Loans, Checking, Savings, Investments, Credit cards, Debit cards, Prepaid cards, Mortgages
| homepage = [https://www.firstatlanticbank.com.gh/ Homepage]
}}
First Atlantic Bank is a universal bank in Ghana. It is licensed as a commercial bank, by the Bank of Ghana, the central bank and national banking regulator.{{cite web|url=https://www.bog.gov.gh/supervision-regulation/registered-institutions/banks/ |title=List of Registered Commercial Banks In Ghana |publisher=Bank of Ghana |date=9 April 2020 |author=Bank of Ghana |access-date=9 April 2020 |location=Accra}}
Location
The bank headquarters are located at 1 Seventh Avenue, Ridge West, in Accra, Ghana's capital and largest city.{{cite web|title=First Atlantic Bank: Contact Us | url=https://www.firstatlanticbank.com.gh/find-branch.html |date=2021 |
publisher=First Atlantic Bank |access-date=9 April 2020 | author=First Atlantic Bank |location=Accra}}
Overview
As of 30 September 2019, the bank controlled assets valued at GHS:2.42 billion (approx. US$420 million), with shareholders' equity of GHS:518.4 million (US$90 million).{{cite web| url=https://firstatlanticbank.com.gh/img/3rdqtr.pdf |date=30 September 2019 |title=Financial Statements As At 30 September 2019 |publisher=First Atlantic Bank |access-date=9 April 2020 |
author=First Atlantic Bank |location=Accra}} As of May 2019, the bank maintained 41 networked branches, 65 automated teller machines, and 260 point of sale devices, in all regions of Ghana.{{cite web|newspaper=Ghanaian Times | url=http://www.ghanaiantimes.com.gh/%EF%BB%BFfirst-atlantic-bank-shows-remarkable-growth/ |title=First Atlantic Bank shows remarkable growth |date=3 May 2019 |author=Kingsley Asare | location=Accra}}
History
The Bank was started in 1995 as a merchant bank and operated mainly in Accra. In 2011 the Bank of Ghana granted it universal bank status.{{cite web|access-date=9 May 2019 | url=https://www.firstatlanticbank.com.gh/corporate.php |date=2019 |title=First Atlantic Bank: About Us: Corporate Profile | author=First Atlantic Bank |location=Accra}} In September 2017, the Bank of Ghana directed all universal banks in Ghana to raise their minimum capital reserves from GHS:120 million (US$22.8 million) to GHS:400 million (US$73.4 million). In December 2018, First Atlantic Bank merged with Energy Bank Ghana, to meet new capital guidelines, mandated by the Bank of Ghana. The name of the merged entity remained First Atlantic Bank (Ghana) Limited{{cite web| url=https://ghanatalksbusiness.com/first-atlantic-bank-exceeds-bogs-capital-requirement/ |title=First Atlantic Bank exceeds BoG's capital requirement |publisher=Ghanatalksbusiness.com | date=10 January 2019 |author=Ghana Talks Business |place=Accra | access-date=9 April 2020}}
Governance
The chairperson of the nine-member board of directors is Mr. Amarquaye Armar. The managing director and chief executive officer is Odun Odunfa.{{cite web|date=2019 | url=https://www.firstatlanticbank.com.gh/leadership.html |title=The Board of Directors at First Atlantic Bank |access-date=9 April 2020 |publisher= First Atlantic Bank |author=First Atlantic Bank | location=Accra}}
References
{{reflist}}
External links
- [https://www.firstatlanticbank.com.gh/index.html/ Website of First Atlantic Bank (Ghana)]
{{Authority control}}
Category:Banks established in 1995