The President of Ghana, Mr. John Agyekum Kufuor, on Tuesday 19, 2006, in a colourful ceremony in Accra, capital of Ghana, officially launched Intercontinental Bank Ghana Limited, an offshore subsidiary of Intercontinental Bank Plc. He equally commissioned the bank’s  ultra-modern, five-floor corporate head office, strategically located in the central business district of Accra, partly surrounded by the Presidential Castle, Accra International conference Center, the State House and opposite the Ohene Djan Sports Stadium.

The ceremony was also graced by the Finance Minister of Ghana, Honourable Kwadwo Baah Wiredu, the Governor of Bank of Ghana, Dr. Paul Acquah, other top government functionaries, captains of industry and business, members of the diplomatic corps among thronging customers of the Bank. Equally in attendance were members of the Bank’s board and executive management including its Managing Director, Mr. Albert Mmegwa, the Chairman, Dr. G.K. Agama along with Dr. Raymond Obieri and Dr. Erastus Akingbola, Chairman and Vice-Chairman/CEO of Intercontinental Bank Plc respectively. 

President Kufuor declared his delight to have Intercontinental Bank introduce its traditional excellence in customer service and outstanding leadership in corporate social responsibility to Ghana. He said: “I commend Intercontinental Bank for investing in our economy and I believe that the bank will replicate its success story in Ghana.”

The Finance Minister, Mr. Wiredu said that he is not only happy that Intercontinental bank is investing in Ghana but added: “ I am particularly enthused by the bank’s base rate of 19.2% which is the lowest in the industry making it attractive to the business and investing community in Ghana.

In his own speech, the VC/CEO of Intercontinental Bank Plc, Dr. Akingbola said that the Bank’s entry into Ghana marks the beginning of a very bold offshore expansion plan across the sub region and beyond. He said that the bank is introducing to Ghana, its aggressive approach to customers’ satisfaction as marked by its corporate theme of “Happy Customer, Happy Bank.” It is part of this aggressive drive that the bank has opened with a magnificent head office and five branches in the major commercial and industrial areas of Accra and Tema: Kantamanto, Tema Fishing Harbour Road, Kaneshie and Osu.

The Managing Director of Intercontinental Bank Ghana, Mr. Mmegwa alluded to the growing strength of the bank, saying: “Our numerous customers can testify to our impact on their businesses already in terms of excellent and personalized services and other supports.” He added that presently the bank has a staff strength of 178 out of which 96% are Ghanaians occupying different grades up to the highest decision making body of the bank.

Intercontinental Bank Ghana received its Universal Banking License from the Bank of Ghana in September 2006 and opened its doors to the public for business in October 2006. As part of its market entry strategy, it acquired Citi Savings & Loans company Limited, a micro finance non-banking financial institution in February 2006. Intercontinental Bank Ghana is a subsidiary of Intercontinental Bank Plc, the third largest bank in Nigeria by several parameters.