Group Chief Executive of ECOBANK Arnold Epke has denied that the bank’s acquisition of The Trust Bank (TTB) was just to become a big bank to undertake huge transactions.
Analysts had argued that ECOBANK’s takeover of TTB was just to have a strong balance sheet for its operations.
There were also fears that ECOBANK might neglect some special areas been catered for by TTB.
But the brain behind the Group’s14 acquisitions in Africa, Arnold Epke tells Joy Business they rather wanted to contribute more to the Ghanaian economy.
Mr. Epke reiterated the bank’s commitment not to neglect small businesses as well as lay off any worker of The Trust Bank.
ECOBANK Transnational Incorporated, the parent company of ECOBANK , last year acquired TTB for 220 million Ghana cedis and merged it with ECOBANK Ghana.
The bank is projecting to be the biggest bank in Ghana in terms of profits and assets.
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