All branches of The Trust Bank (TTB) across the country have been rebranded in the blue, white and sea green colours of Ecobank signifying the complete takeover of the latter following a merger between the two financial institutions.
The rebranding exercise, which signified the completion of the integration of the two banks, was completed last Friday after Ecobank Ghana’s logos were unveiled through out the country.
Ecobank Ghana’s parent company, Ecobank Transnational Incorporated (ETI) acquired 100 per cent shares in TTB in December 2011 in a $135 million deal.
All TTB customers had been issued with new account numbers while ATMs of the former bank had been replaced.
Management of Ecobank said, “TTB is now Ecobank and this means more value for all our customers in Ghana and Across Africa.”
After welcoming customers of TTB to the Ecobank family, it was announced that the bank would retrieve all TTB branded ATM cards and replace them with Ecobank VISA debit cards.
“Our customers can now enjoy a wide range of products and services delivered from an expanded network of 78 branches and 165 ATMs across Ghana. With access to over 1.6 million VISA branded ATMs and 24 million point of sale terminals worldwide, you will experience world-class banking with Ecobank.”
Samuel Ashitey Adjei, Managing Director of Ecobank Ghana, gave assurance that the team of familiar relationship managers and branch staff would continue to handle business with the customers to ensure optimum satisfaction.
Ecobank’s acquisition of TTB was approved by the Central Bank in December 2011.
The merger of TTB and Ecobank, he said, was a strategic move to consolidate the leadership position of Ecobank in the Ghanaian banking industry.
According to ETI, TTB was the right bank because of its strategic market share.
The merger has led to improved products and services and increased the number of branches and workforce.
The combined net worth of the new entity will now total about US$225million after the addition of TTB’s US$65 million to Ecobank’s hitherto US$160 million capital.
The enlarged business now has the highest single obligor limit in the banking industry, which allows for increased lending.
By Emelia Ennin Abbey
