Republic Bank Limited (RBL) has announced its acquisition in June of an additional 7.98 per cent shareholding in HFC Bank Ghana, moving its total number of shares to 40 per cent and strengthening the bank’s position as the single largest shareholder in HFC Bank.
A release from RBL said that HFC Bank (Ghana) was licensed as a commercial bank in 2003 and operates 26 branches throughout Ghana, providing a wide range of banking services, including mortgages and real estate services, commercial banking, investment banking, microfinance, private equity, and venture capital fund management. HFC Bank has an asset base of US$301 million and profit after taxation of US$7.7 million based on its last published financials.
