Industry Financial Services Total assets US$300+ million (2011) Headquarters Accra Type of business Private | Revenue US$8.5 million (2008) Website Homepage Founded 1997 | |
Key people Stephan Ata
Chairman
Menson Torkornoo
Managing Director Products Loans, Checking, Savings, Investments, Debit Cards | ||
Amalgamated Bank Limited, commonly known as AmalBank, is a commercial bank in Ghana.
Contents
History
The bank was incorporated in 1997. In 2006, 49% shareholding in AmalBank was purchased by Meeky Enterprises of Nigeria. Meeky is also a major shareholder in Oceanic Bank, one of Nigeria's leading financial services providers. In 2007, the total asset valuation of AmalBank was estimated at US$136 million. In June 2009, it was reported in the online Ghanaian publication "Public Agenda" that the total assets of AmalBank had doubled in 2008. It is therefore estimated that the total assets of the bank, as of June 2009, is approximately US$272 million.
Acquisition by Bank of Africa Group
In April 2011, majority shareholding (60%) in AmalBank was acquired by the Bank of Africa Group. AmalBank is currently in the process of re-branding to Bank of Africa (Ghana)
Branch Network
As of May 2011, the bank has nineteen (19) branches and one agency in the following locations:
- Head Office - Farrar Avenue, +233548753152 {for Loans}
- Kumasi Office - 24 February Road, Kumasi
- Maamobi Office - Nima Highway, Accra
- New Town Office - Hill Street Intersection, New Town
- Central Accra Office - Ollivant Arcade, Accra
- Ridge Office - Kanda Highway Extension, Accra
- Michel Camp Road Office - Aseidua Plaza, Tema
- Tamale Office - Daboya Street, Tamale
- Osu Office - Cantonments Road, Osu
- Takoradi Office - Market Circle, Takoradi
- Kwashieman Office - Motorway Extension, Accra
- East Legon Office - Lagos Avenue, Accra
- Spintex Business office
- Adum Business office
- Tema Business Office
- Dansoman Business Office
- Madina Business Office
- Abossey Okai Business Office
- Sokoban Agency, Kumasi