{"id":366052,"date":"2011-04-04T12:02:28","date_gmt":"2011-04-04T12:02:28","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/04\/amalbank-to-become-bank-of-africa-%e2%80%93-ghana\/"},"modified":"2011-04-04T12:02:28","modified_gmt":"2011-04-04T12:02:28","slug":"amalbank-to-become-bank-of-africa-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/04\/amalbank-to-become-bank-of-africa-ghana\/","title":{"rendered":"Amalbank to become Bank of Africa \u2013 Ghana"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb General News<\/a>, Second Lead<\/a> \u00bb Amalbank to become Bank of Africa \u2013 Ghana<\/p>\n

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\t\t\t \tPage last updated at Monday, April 4, 2011 12:12 PM \/\/ <\/span>\n\t\t\t <\/div>\n

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\"\"<\/a>The Amalgamated Bank Ltd. (Amalbank), will soon become the Bank of Africa-Ghana (BOA) following a change of its shareholders. The bank has total assets of $300 million, the management have said in an announcement.<\/p>\n

In an advert in the Daily Graphic issue of Friday April 1, 2011, the bank announced that BOA West Africa SA, a holding company of Bank of Africa Group has entered into an agreement to take over the shareholding of the Nigerian shareholders in Amalbank and has consequently taken a majority stake in the bank, adding that \u201cthe agreement has now been completed with the approval of the Bank of Ghana.\u201d<\/p>\n

Following this development, Ghana becomes the 14th country in which the BOA Group operates in Africa, the announcement said.<\/p>\n

It also indicates that Amalbank was incorporated in Ghana in 1999 by private Ghanaian investors. In 2006, however, a private Nigerian shareholder took a significant stake in the bank.<\/p>\n

While the current employees of the bank will be maintained, staff from BOA Group will be assigned to reinforce the bank\u2019s management structures, it said.<\/p>\n

By Emmanuel K. Dogbevi<\/p>\n

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