African banking group ETI completes EUR 100mn purchase of The Trust Bank Ghana.

By bne IntelliNews January 20, 2012
Pan-African banking group Ecobank Transnational Incorporated (ETI) is set to complete on Friday the GHS 220mn (EUR 100mn) acquisition of 100% of The Trust Bank Ghana (TTB), creating the biggest bank by assets in Ghana, Punch reported. ETI has called an extraordinary shareholders meeting on January 20 to pass the decision for a share swap agreement with existing shareholders of TTB. ETI will then merge TTB with its Ghanaian subsidiary Ecobank Ghana, as the new bank will have more than 70 branches and the largest ATM network in the country. Incorporated in Togo, ETI is the parent company of the Ecobank Group, which has over 1,100 branches in 35 African countries.

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