TMCnet - World's Largest Communications and Technology Community



ICB Bank Inaugurates Board [Ghana News Agency]
[March 03, 2014]

ICB Bank Inaugurates Board [Ghana News Agency]

(Ghana News Agency Via Acquire Media NewsEdge) Accra, March 2, GNA - First Bank of Nigeria Limited has confirmed its pledge to transform its Ghanaian subsidiary, the International Commercial Bank (ICB Bank), into the bank of choice with the inauguration of a seven-member Board of Directors. Chaired by Mr Joseph Yieleh Chireh, a pharmacist, and a Member of Parliament, the new Board has Mrs. Subu Giwa-Amu, who was appointed Managing Director and Chief Executive Officer (CEO) in January and six non-executive directors. The other members of the Board are Mr Abdul Suleiman Kofarsauri, Mrs Hannah Brenda Amoateng, Abiodun Tajudeen Odubola, Mr. John Paul Kumi and Mr Olusanu Abiodun Otudeko. At the inauguration of the new board, the CEO, Mrs. Subu Giwa-Amu said: "The acquisition of ICBGFH assets in Ghana, Guinea, Gambia and Sierra Leone fulfils the first stage of our ambitions to steadily build a broader and more diverse footprint across Africa." "We are committed to developing a multi-local business model that broadens our geographic revenue base while providing enhanced service delivery to our new customers and we are very delighted to be here in Ghana, a growing force in Africa and increasingly, an emerging hub of African trade and investments." The Chairman, Hon. Joseph Yieleh Chireh, commended FirstBank and said: "We are very pleased to have FirstBank, one of Africa's largest banks invest in Ghana and we want to salute the courage and belief the board and management have in the Ghanaian economy; I want to congratulate Ghanaians for this opportunity and implore everyone to support and welcome FirstBank's family in the very warm Ghanaian tradition." The CEO, Mrs. Giwa-Amu is a proven professional with a track record of performance spanning over 25 years of diversified banking and real estate investment financing experience, and is expected to bring to bear this wealth of experience in positioning the Bank as a leading force in the Ghanaian Financial Industry. Mrs Giwa-Amu joined FirstBank in June 2001, as Head of Private Banking & Asset Management where she successfully built a portfolio size of ?1billion or GH¢ 15,177,757 within a year of operation. She rose through the ranks and in January 2010 was appointed Managing Director/Chief Executive Officer of First Bank of Nigeria Mortgages Limited (FBN Mortgages Limited). She performed excellently and is credited with delivering the highest ever profit-before-tax in the history of FBN Mortgages Limited. She achieved a balance sheet growth of over 100% within two years and delivered 12 projects within 36 months. Mrs. Giwa-Amu holds Bachelor of Laws degree and a Master of Business Administration (MBA) from the University of Warwick in England. First Bank of Nigeria Limited is Nigeria's leading commercial bank, established over 119 years ago with an enviable and consistent history of success. The bank currently has the largest and indeed the strongest, balance sheets of any bank in sub-Saharan Africa (excluding South Africa) and currently operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points, 69 cash centres and agencies over 2,397 ATMs and well over 9 million customer accounts. On November 11, last year, First Bank of Nigeria, itself a subsidiary of FBN Holdings PLC, completed the acquisition of 100% of equity interest in the West Africa operations of ICB Bank, which includes operations in Ghana, the Gambia, Guinea and Sierra Leone. As a result of this acquisition, FirstBank not only consolidates its position as the largest corporate and retail banking financial institution in sub-Saharan Africa but also delivers against the bank's ambition of winning significant market share, expanding its pan-African footprints and diversifying earnings while it delivers true value to its shareholders. ICB Bank, Ghana, will accordingly be merged into its parent bank – First Bank of Nigeria – and integration is expected to be done in a smooth, gradual and systematic fashion so as to minimize the impact on the bank's local customers. GNA (c) 2014 Ghana News Agency (GNA) Provided by, an company

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy