Ecobank Ghana

Ecobank Ghana

Ecobank Ghana head office
Company type	Public limited company
Traded as	GSE: EGH
Industry	Financial services
Founded	1990
Headquarters	Accra, Greater Accra, Ghana
Key people	Mr. Samuel Ashitey Adjei (Chairman) Daniel Sackey (managing director)^[1]
Products	Loans, savings, investments, debit cards, credit cards, mortgages
Revenue	US$3.4 billion (2022)
Total assets	Assets\| GH¢ 25.90 billion (2022)GH¢ 17.92 billion (2021)GH¢ 15.95 billion (2020)
Number of employees	1,617
Website	Homepage

Ecobank Ghana PLC is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator.^[2] In 2022, the bank retained its position as the largest bank in Ghana in the 2023 Ghana Banking Survey by PricewaterhouseCoopers (PwC).^[3] LIMA Partners also named the bank as the biggest bank by total assets in the Ghana Banking Industry Report.^[4]

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Overview

EBG is a member of the Pan-African Ecobank chain which operates in 32 countries. The stock of Ecobank Ghana is listed on the Ghana Stock Exchange, where its shares are traded under the symbol EGH. The bank is a fully networked commercial bank in Ghana with branches (total of 77 as of December 2016) in almost all regions of the nation.^[1] In 2023, the bank introduced two products (asset finance and working capital stream) to help shippers' liquidity challenges.^[5]

History

Ecobank Ghana was incorporated on January 9, 1989, as a private limited liability company under the Organizations Code to engage in the business of banking.^[2]

The bank was formed on February 19, 1990. In December 2011, Bank of Ghana, the central bank of the country, which also functions as the national banking regulator, gave approval for Ecobank Transnational to acquire 100% interest in The Trust Bank (TTB), another licensed commercial bank. At the time, the total asset valuation of TTB was approximately US$119 million (GH¢ 220 million).^[6] Ecobank has successfully merged TTB and EBG. The new bank is known as Ecobank Ghana Limited.

Operations

Ecobank Ghana PLC has a board of directors and an Executive Management team for the running of the West African subsidiary bank in Ghana. The bank's activities are largely organized around three key areas in the banking sector: consumer/retail banking, commercial/business banking and asset management and investment banking.^[7]

Consumer/retail banking

Consumer and retail banking consists of personal banking and other specialized services for clients in premier, advantage, classic and direct categories of customers.^[8]

Commercial banking

In commercial banking, Ecobank Ghana PLC focuses on business banking for large, medium and small scale companies in the country across all industries and sectors and corporate banking for public sector institutions, multinationals, financial institutions and international organizations.^[9]^[10]

Asset management and investment banking

The bank's asset management and investment banking activity focuses on wealth management, cash and liquidity management, supply chain solutions, fixed income trading, currencies and commodities and custody business.^[11]

Management

The board of directors has eight members, including a chair and company secretary:

Mr. Samuel Ashitey Adjei – Chairman
Mr. Daniel Nii Kwei Kumah Sackey – managing director
Dr. Edward Nartey Botchway – Executive Director
Mrs. Patience Enyonam Akyianu – non-executive director
Mr. Henry Dodoo-Amoo – non-executive director
Dr. John Ofori-Tenkorang – non-executive director
Dr. Ohene Aku-Kwapong – non-executive director
Mrs. Awura Abena Asafo-Boakye – company secretary

The Executive Management team consists of the managing director, executive director and ten heads of portfolios:;^[12]

Mr. Daniel Nii Kwei Kumah Sackey – managing director, Ecobank Ghana & Regional Executive, Anglophone West Africa Cluster.
Dr. Edward Nartey Botchway – Executive Director & Head, Consumer Banking
Mrs. Awura Abena Asafo-Boakye – company secretary & Head, Legal
Patrick Bleboo – Head, Operations & Information Technology
Joana Mensah – Head, Risk Management
Isaac Baah – Business Manager
Albert Bartlett-Mingle – Head, Internal Control
Philip Baabereyir Bertino – Head, Internal Audit
Charlotte Amanquah – Head, Commercial Banking
Newlove Kwame Adjei – Head, Finance
Rolland Djang – Head, Compliance
Nixon Amoah-Awuah – Head, Human Resources