Republic Bank Ghana has no association with US-based First Republic Bank
Republic Bank (Ghana) Plc, a subsidiary of Republic Financial Holdings Limited (RFHL) of Trinidad & Tobago, has clarified that it has no relations, business or otherwise, with First Republic Bank of the United States of America (USA).
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This announcement comes amidst issues currently faced by the First Republic Bank in the United States.
"Following the current issues with First Republic Bank in the United States of America, we wish to notify our Cherished Customers, Prospective Customers and the General Public that Republic Bank (Ghana) PLC has no relations, business or otherwise, with First Republic Bank of the United States of America," the bank said in a press release issued today.
"We would like to reiterate that Republic Bank (Ghana) PLC is a subsidiary of Republic Financial Holdings Limited (RFHL) of Trinidad & Tobago, the largest and most profitable independent Bank in the English-speaking Caribbean, having served the region for over 187 years".
Republic Bank (Ghana) Plc is a universal banking institution in Ghana, with 38 branches nationwide and a range of services including Corporate, Commercial and Retail Banking, Investment Banking, Trustee Services, Mortgage Banking, VISA Credit and Debit Cards, and Microfinance.
The bank is known for its diversified financial services, and it recently introduced the VISA Business Credit Card to the Ghanaian market.
The statement added that RFHL was the registered owner of all the banks in the Republic Bank Group.
As of September 30, 2022, the consolidated assets of RFHL stood at US$ 16.95 billion, and first-quarter profits, after tax, stood at US$ 60.74 million.
"Republic Bank remains a Solid, Safe and Secure Bank, and it is not related to the First Republic Bank of the United States of America," the release said.