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GN Bank

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GN Bank
Company typePrivate ownership
IndustryPrivate banking,
National development banking,
Asset management,
Investment banking,
Financial services
Founded30 May 1997
HeadquartersAccra, Ghana
Key people
Papa Kwesi Nduom
Chairman
Issah Adam
MD[1]
ProductsPrivate banking,
National development banking,
Asset management,
Investment banking,
Investments,
Loans,
Savings,
Checking,
E-banking
RevenueIncrease
Total assetsUS$398 Million; 2015
GHS:1.8+ Billion; 2015
Number of employees
1,677
Websitewww.gnbankghana.com

GN Bank is an indigenous private Ghanaian owned commercial bank in Ghana.[2] GN Bank is one of the private commercial banks licensed to operate in Ghana.[2][3] GN Bank has over 260 locations across the 10 regions of Ghana.[2]


GN Savings and Loans Company Limited was originally incorporated as First National Savings and Loans (FNSL) Company Limited and licensed as a Savings and Loans Company on 8 May 2006. It was subsequently issued with a universal banking license by the Bank of Ghana on 4 September 2014 and was renamed GN Bank Limited.[4][5]

Services

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GN Bank offers mainstream banking services which include cash deposits and withdrawals, savings and loans and financial advice consultation (private banking, corporate banking, consumer banking, corporate products, lending products, special services, money transfer).[6] In 2014, GN Bank introduced a cash deposit service known as E-Banking.[7] The service allows GN Bank customers to deposit cash into their bank accounts at their convenience through their smartphones (mobile phones) via First SMS Alert banking (First Net Banking) and M-POS (Mobile Point Of Sales) Electronic Statement without physically being present in any bank branches of the GN Bank.[7]


In 2019 the bank of Ghana revoked the licenses of 23 savings and loans companies and finance house companies which included the GN bank.


A statement issued by the BoG on Friday, 16 August 2019 said the revocation of the licences of the institutions had become necessary because they were insolvent even after a reasonable period within which the Bank of Ghana had engaged with them in the hope that they would be recapitalized by their shareholders to return them to solvency.[8]

Board of directors

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Branches

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GN Bank is headquartered in Accra.[10] GN Bank as at June 2016 has Two -hundred-and-sixty (260) operational branches in all the ten regions of Ghana territorial entities: Ashanti (23 operational branches); Brong-Ahafo (44 operational branches); Central (31 operational branches); Eastern (30 operational branches); Greater Accra (38 operational branches); Volta (18 operational branches); Northern (29 operational branches); Upper East (18 operational branches); Upper West (14 operational branches) and Western (27 operational branches).[10]

Sponsorships

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GN Bank Division One League

On 30 December 2014, GN Bank became the headline sponsor of the GN Bank Division One League.[11] This sponsorship agreement between the GN Bank and the GFA is a three-year deal worth 1.2 million cedis to 2017.[11]

Awards

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  • In October, 2015 GN Bank wins Fastest growing Bank in Ghana at the 2015 Association of Ghana Industries Awards.[12]

See also

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References

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  1. ^ "GN Bank Board". gnbankghana.com.
  2. ^ a b c "About GN Bank". GN bank.
  3. ^ "List of Licensed Commercial Banks In Ghana". Bank of Ghana. 14 May 2024.
  4. ^ webmanager (19 August 2019). "Detailed Reasons Behind BoG's Closure of GN Savings, Others Revealed". Business World Ghana. Retrieved 17 August 2023.
  5. ^ "MyJoyOnline – Ghana News | Ghana's most comprehensive website. Independent, Fearless and Credible journalism". MyJoyOnline. Retrieved 17 August 2023.
  6. ^ "GN Bank Product Types". GN bank Ghana.
  7. ^ a b "GN Bank E-Banking". GN bank Ghana.
  8. ^ webmanager (19 August 2019). "Detailed Reasons Behind BoG's Closure of GN Savings, Others Revealed". Business World Ghana. Retrieved 17 August 2023.
  9. ^ "GN Bank Board". GN bank Ghana.
  10. ^ a b "GN Bank Branches". GN bank Ghana.
  11. ^ a b "Confirmed: GN Bank now official sponsor of Division One League". MyJoyOnline. 18 February 2015.
  12. ^ Simon Ahensah (11 October 2015). "GN Bank wins award". GN bank Ghana.
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