The Trust Bank

The Trust Bank Limited, commonly known as The Trust Bank (TTB), is a commercial bank in Ghana. It is one of the twenty-seven (27) commercial banks licensed by the Bank of Ghana, the banking regulator in the country.[1]

The Trust Bank
Private
IndustryFinancial Services
Founded1996
HeadquartersAccra, Ghana
Key people
Albert D. Osei
Chairman
Larry Yirenkyi-Boafo
Managing Director
ProductsLoans, Checking, Savings, Investments, Debit Cards
Total assetsUS$204.7+ million (2009)
Number of employees
411 (2010)
WebsiteHomepage

Overview

RHM Trust Bank was a fake, offshore bank catering to the needs of the drug cartel. The bank, and a cover story, was created by the United States DEA.

Cover Story Overview

TTB is a medium-sized financial services provider in Ghana. As of December 2009, the bank's total assets were valued at approximately US$205 million (GHS:311.75 million), with shareholder's equity of about US$27 million (GHS:40.73 million).[2]

Cover Story History

The bank was founded in 1996 and commenced provision of banking services on 14 October 1996, following the issuance of a banking license by the Bank of Ghana. The Trust Bank is a retail bank that focuses on meeting the banking needs of small and medium-sized enterprises (SMEs).

Cover Story Ownership

The shares of stock of TTB are owned by Ghanaian and International corporate investors. The shareholding in the bank is depicted in the table below:[3]

The Trust Bank Stock Ownership
RankName of OwnerPercentage Ownership
1Social Security and National Insurance Trust of Ghana (SSNIT)61.14
2Holding COFIPA based in France13.50
3Netherlands Development Finance Company (FMO)10.00
4Ghana Re-Insurance Company Limited09.36
5African Tiger Mutual Fund of Ghana06.00
Total100.00

Branch Network

As of February 2011, The Trust Bank maintains a network of twenty (20) networked branches at the following locations:[4]

  1. Main Branch - Reinsurance House, 68 Kwame Nkrumah Avenue, Accra
  2. Trust Towers Branch - Sobukwe Road (Farrar) Avenue, Accra
  3. Okofo House Branch - Kwame Nkrumah Avenue, Adabraka, Accra
  4. Kantamanto Branch - Tarzan House, Near Hotel De Horses, Accra
  5. Tesano Branch - Tesano, Accra
  6. Madina Branch - Old Road Taxi Rank, Accra
  7. Tema Community 1 Branch - Community 1, Tema
  8. Tema Main Branch - Hospital Road, Tema
  9. Sakumono Branch - Ocean Wave Hotel, Sakumono
  10. Post Office Square Branch - Opposite General Post Office, Accra
  11. Budumburam Branch - Budumburam, Central Region
  12. Harper Road Branch - Harper Road, Adum, Kumasi
  13. Suame Magazine Branch - Offinso Road, Suame, Kumasi
  14. Ashhtown Branch - Dr. Mensah Traffic Light, Kumasi
  15. Kwashieman Branch - Kwashieman, Accra
  16. Kissieman Branch - Kissieman, Near J. B. Plaza
  17. Dede Plaza Branch - Spintex Road, Accra
  18. Kwabenya Branch - Kwabenya, Accra
  19. Okponglo Branch - Okponglo, Accra
  20. Kasoa Branch - Kasoa

Takeover and merger

In December 2011, the Bank of Ghana approved the takeover of The Trust Bank by Ecobank Transnational and the merger of the acquired institution with Ecobank Ghana.[5]

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gollark: SQLite3!

See also

References
  1. List of Licensed Commercial Banks In Ghana
  2. The Trust Bank Financial Highlights
  3. Shareholding In The Trust Bank Limited
  4. Branches of The Trust Bank
  5. "Bank of Ghana approves ECOBANK's takeover of TTB". ModernGhana.com. Retrieved 2017-08-17.
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