First Atlantic Bank
We offer full scale banking services designed to meet the diverse needs of our esteemed clients.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Growth Equity VC | ||
| Total Funding | 000k | ||
Related Content
Established in 1995 as a merchant bank, First Atlantic Bank has transitioned into a universal commercial bank operating within Ghana's financial services industry. A key milestone in its history was receiving a universal banking license from the Bank of Ghana in 2011, which broadened its operational scope. The bank further solidified its market position through a merger with Energy Commercial Bank in December 2018, a strategic move to meet the central bank's increased minimum capital requirements.
The institution is steered by a management team led by MD/CEO Odun Odunfa, who was appointed in 2016. Odunfa possesses over three decades of experience in West Africa's banking sector, with a background in treasury, corporate, investment, and retail banking. Under his leadership, and that of Board Chairman Mr. Amarquaye Armar, the bank has pursued significant growth and digital transformation. The bank's business model is centered on generating revenue through a comprehensive suite of banking products and services. Its core operations encompass retail/SME, commercial, corporate, and institutional banking, alongside private banking for high-net-worth individuals. The bank earns income from loans, transaction fees, and investments.
First Atlantic Bank provides a full array of financial products, including various savings and current accounts, loans, credit and debit cards, mortgages, and investment services. A major focus for the bank is its digital product portfolio, featuring the FAB Mobile app and Corporate Internet Banking platform, which have received multiple accolades. These digital solutions are designed to enhance customer accessibility and convenience, offering services like micro-loans for Mobile Money (MoMo) agents and seamless payment functionalities. The bank has been recognized for its digital strategy, winning Digital Bank of the Year and receiving awards for its fintech partnerships and mobile app.
Keywords: commercial banking Ghana, universal bank, retail banking, corporate banking, private banking, electronic banking, SME banking, trade finance, digital banking, mobile banking, financial services Ghana, Odun Odunfa, Accra banking, investment banking, loan services, fintech partnership, FAB Mobile, corporate internet banking, Bank of Ghana, West Africa finance