Energy Bank

Energy Bank
Type Private
Industry Financial services
Founded 2011
Headquarters Accra, Ghana
Key people Jimoh Ibrahim
Chairman[1]
Products Loans, Checking, Savings, Investments, Debit cards, Mortgages
Total assets US$100 million (2011)[2]
Website Homepage

Energy Bank Ghana Limited, also referred to as Energy Bank Limited, but commonly known as Energy Bank, is a commercial bank in Ghana. It is one of the twenty-seven (27) commercial banks licensed by the Bank of Ghana, the country's banking regulator.[3]

Contents

Overview

As of February 2011, Energy Bank is a small financial services provider in Ghana. The banks total assets are estimated at about US$100 million. The shareholders' equity is estimated at about US$39.8 million (GHS:60 million).[4]

History

The bank was established in 2009. In September that year, it was registered as a private limited liability company.[5] In February 2011, it was awarded a commercial banking license by the Bank of Ghana. Energy Bank commenced banking business on 22 February 2011, following the commissioning of its head office, by John Atta Mills, the President of the Republic of Ghana.[6]

Ownership

The shares of stock of Energy Bank is privately owned. The two major shareholders in the bank are (a) the Nicon Group and (b) the Global Fleet Group, both from Nigeria and linked to Jimoh Ibrahim, the Nigerian industrialist and entrepreneur who serves as the bank's Chairman. The shareholding in the bank's stock is depicted in the table below:[7]

Energy Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 NICON Group of Nigeria
2 Global Fleet Group of Nigeria
3 Others
Total 100.00

Branch Network

As of December 2011, Energy Bank maintains the following networked branches in Ghana[8]

  1. Main Branch - 30 Independence Avenue, Accra
  2. Kumasi Branch - 222A Guggisberg Road, Adum, Kumasi[9]
  3. Tema Branch - Park View Plaza, Tema

Governance

Jimoh Ibrahim, a shareholder in the bank, serves as the Chairman of the 10-member Board of Directors, of Energy Bank Limited.[10]

Global Fleet Group

Energy Bank is a member of Global Fleet Group, a Nigeria-based conglomerate, with business interests in Nigeria, Ghana and São Tomé and Príncipe. The member companies of the Group include the following businesses:[11]

  1. Air Nigeria[12] - Lagos, Nigeria - Formerly Virgin Nigeria
  2. Nicon Insurance[13] - Lagos, Nigeria
  3. Nigeria Re-Insurance Corporation - Lagos, Nigeria
  4. Nicon Luxury Hotel - Abuja, Nigeria - Formerly Le' Meridien Hotel
  5. The Nicon Group - Lagos, Nigeria - Holdings include investment companies, schools, real estate holdings, transport companies and others
  6. Nicon Properties Limited
  7. Global Fleet Oil and Gas - A chain of gasoline stations across Nigeria
  8. Global Fleet Building - Lagos, Nigeria - Formerly Allied Bank Building
  9. Nicon Hotels - Lagos, Nigeria
  10. Global Fleet Industries - Lagos, Nigeria - Formerly HFP Industries Limited
  11. Energy Bank - Accra, Ghana - A new commercial bank in Ghana, started operations in February 2011
  12. Energy Bank São Tomé - São Tomé, São Tomé and Príncipe - Commercial bank purchased from Oceanic Bank in May 2011 and rebranded to current name.
  13. Global Media Mirror Limited - Lagos, Nigeria

External links

See also

References

  1. ^ Jimoh Ibrahim Is Chairman of Energy Bank
  2. ^ US$100 Used to Start Energy Bank Limited
  3. ^ List of Licensed Commercial Banks In Ghana
  4. ^ Energy Bank's Paid-up Capital In 2011
  5. ^ Energy Bank Incorporated In 2009
  6. ^ President Mills Commissions Energy Bank
  7. ^ Shareholding In Energy Bank Limited
  8. ^ Branches of Energy Bank
  9. ^ Energy Bank Opens Kumasi Branch
  10. ^ Jimoh Ibrahim Is Chairman of Energy Bank Limited
  11. ^ Member Companies of the Global Fleet Group
  12. ^ Air Nigeria Is A Subsidiary of Global Fleet Group
  13. ^ About Nicon Insurance Company Limited