AmalBank
| Private | |
| Industry | Financial Services |
| Founded | 1997 |
| Headquarters | Accra, Ghana |
Key people |
Stephan Ata Chairman Menson Torkornoo Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue |
 US$8.5 million (2008) |
| Total assets | US$300+ million (2011) |
| Website | Homepage |
Amalgamated Bank Limited, commonly known as AmalBank, is a commercial bank in Ghana.
History
The bank was incorporated in 1997. In 2006, 49% shareholding in AmalBank was purchased by Meeky Enterprises of Nigeria. Meeky is also a major shareholder in Oceanic Bank, one of Nigeria's leading financial services providers.[1] In 2007, the total asset valuation of AmalBank was estimated at US$136 million.[2] In June 2009, it was reported in the online Ghanaian publication "Public Agenda" that the total assets of AmalBank had doubled in 2008.[3] It is therefore estimated that the total assets of the bank, as of June 2009, is approximately US$272 million.
Acquisition by Bank of Africa Group
In April 2011, majority shareholding (60%) in AmalBank was acquired by the Bank of Africa Group. AmalBank is currently in the process of re-branding to Bank of Africa (Ghana)[4]
Branch Network
As of May 2011, the bank has nineteen (19) branches and one agency in the following locations: [5]
- Head Office - Farrar Avenue, Accra
- Kumasi Office - 24 February Road, Kumasi
- Maamobi Office - Nima Highway, Accra
- New Town Office - Hill Street Intersection, New Town
- Central Accra Office - Ollivant Arcade, Accra
- Ridge Office - Kanda Highway Extension, Accra
- Michel Camp Road Office - Aseidua Plaza, Tema
- Tamale Office - Daboya Street, Tamale
- Osu Office - Cantonments Road, Osu
- Takoradi Office - Market Circle, Takoradi
- Kwashieman Office - Motorway Extension, Accra
- East Legon Office - Lagos Avenue, Accra
- Spintex Business office
- Adum Business office
- Tema Business Office
- Dansoman Business Office
- Madina Business Office
- Abossey Okai Business Office
- Sokoban Agency, Kumasi