Amalgamated Bank Limited (AmalBank) was incorporated on May 29, 1997 under the Companies Code 1963 (Act 179), licensed by the Bank of Ghana on December 13, 1999 to carry on the business of merchant banking under the Banking Law 1989, PNDCL 225 and started operations on December 20, 1999.

Within seven years, AmalBank acquired a Universal Banking License by inviting a strategic investor, Meeky Enterprises of Nigeria, to take 49% of its equity in 2006. Meeky is also a major shareholder in Oceanic Bank PLC (Nigeria), and AmalBank is currently fully exploiting the synergies that are available within the group.  

With the capital injection, Amalbank now has ¢72 Billion as its paid up capital and has embarked on an aggressive expansion in its business office network (branches) and its product offering. By the end of 2007, we expect to have about 15 Business Offices in all the major markets in the country.

The Bank has developed a focused approach to servicing its markets, the major fulcrum being relationship banking; the ability to meet the financial needs of various sectors of the economy least served by the existing financial institutions, by providing quality and prompt service, through positive engagement with each customer.

We are also building the foundations, through our network of associated businesses, to become a key player on the West African financial services market.