The Trust Bank
From Wikipedia, the free encyclopedia
The Trust Bank Limited, commonly known as The Trust Bank (TTB), is a commercial bank in Ghana. It is one of the 27 commercial banks licensed by the Bank of Ghana, the banking regulator in the country.[1]
| Type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1996 |
| Headquarters | Accra, Ghana |
| Key people | Albert D. Osei (chairman) Larry Yirenkyi-Boafo (managing director) |
| Products | Loans, checking, savings, investments, debit cards |
| Total assets | US$204.7+ million (2009) |
Number of employees | 411 (2010) |
| Website | Homepage |
Overview
History
The bank was founded in 1996 and commenced provision of banking services on 14 October 1996, following the issuance of a banking license by the Bank of Ghana. The Trust Bank is a retail bank that focuses on meeting the banking needs of small and medium-sized enterprises (SMEs).
Ownership
The shares of stock of TTB are owned by Ghanaian and International corporate investors. The shareholding in the bank is depicted in the table below:[3]
| Rank | Name of owner | Percentage ownership |
|---|---|---|
| 1 | Social Security and National Insurance Trust of Ghana (SSNIT) | 61.14 |
| 2 | Holding COFIPA based in France | 13.50 |
| 3 | Netherlands Development Finance Company (FMO) | 10.00 |
| 4 | Ghana Re-Insurance Company Limited | 09.36 |
| 5 | African Tiger Mutual Fund of Ghana | 06.00 |
| Total | 100.00 | |
Branch network
As of February 2011[update], The Trust Bank maintains a network of 20 networked branches at the following locations:[4]
- Main Branch - Reinsurance House, 68 Kwame Nkrumah Avenue, Accra
- Trust Towers Branch - Sobukwe Road (Farrar) Avenue, Accra
- Okofo House Branch - Kwame Nkrumah Avenue, Adabraka, Accra
- Kantamanto Branch - Tarzan House, Near Hotel De Horses, Accra
- Tesano Branch - Tesano, Accra
- Madina Branch - Old Road Taxi Rank, Accra
- Tema Community 1 Branch - Community 1, Tema
- Tema Main Branch - Hospital Road, Tema
- Sakumono Branch - Ocean Wave Hotel, Sakumono
- Post Office Square Branch - opposite General Post Office, Accra
- Budumburam Branch - Budumburam, Central Region
- Harper Road Branch - Harper Road, Adum, Kumasi
- Suame Magazine Branch - Offinso Road, Suame, Kumasi
- Ashhtown Branch - Dr. Mensah Traffic Light, Kumasi
- Kwashieman Branch - Kwashieman, Accra
- Kissieman Branch - Kissieman, near J. B. Plaza
- Dede Plaza Branch - Spintex Road, Accra
- Kwabenya Branch - Kwabenya, Accra
- Okponglo Branch - Okponglo, Accra
- Kasoa Branch - Kasoa
Takeover and merger
In December 2011, the Bank of Ghana approved the takeover of The Trust Bank by Ecobank Transnational and the merger of the acquired institution with Ecobank Ghana.[5]