By Elvis Darko, Accra
First Atlantic Bank PLC (FAB), a leading Ghanaian universal bank, has secured regulatory approval to commence operations in Liberia, marking a significant milestone in its strategic West African expansion.
The license, granted by Liberian regulatory authorities, paves the way for the bank to export its “refreshingly different” banking model beyond the borders of Ghana.
A statement issued in Accra described the development as a testament to the bank’s robust governance structures, operational resilience, and long-term vision of becoming a dominant global financial institution with deep roots in West Africa.
“The move into the Liberian market is intended to go beyond geographical presence,” it said.
The expansion, the release noted, was focused on driving tangible economic impact by supporting trade, fostering entrepreneurship, and deepening financial inclusion.
“The FAB aims to deploy modern and reliable banking solutions specifically tailored to meet the unique needs of the Liberian market,” it said.
“As the bank prepares to commence operations, its culture of service excellence, innovation, and trust will be at the forefront of its mission.”
Recognised as a two-time Digital Bank of the Year, the First Atlantic Bank intended to leverage its award-winning expertise in digital innovation to gain a competitive edge in Liberia, the release said.
It plans to deploy its proven digital platforms and processes to deliver seamless, technology-driven financial services to its new clientele.
The expansion was also expected to strengthen regional economic ties, reinforcing the bank’s commitment to delivering exceptional banking experiences across the sub-region.
FAB raised GH₵778.6 million from the market, exceeding its initial target of GH₵774.2 million by about six per cent to list on the Ghana Stock Exchange (GSE).
The offer comprised a combination of shares sold by existing shareholders and fresh capital injected into the bank, strengthening its balance sheet and expanding its ownership base.
Founded in 1994 and licensed as a universal bank in 2011, FAB’s decision to go public comes at a pivotal moment in Ghana’s financial sector.
After three decades of private ownership, during which it navigated regulatory reforms, tighter capital requirements, the banking sector clean-up, and periods of macroeconomic volatility, the move to open its ownership to the investing public is widely seen as a mark of institutional maturity and strategic confidence.
For FAB, the IPO represents the culmination of years of restructuring and balance sheet strengthening, including adapting to higher capital requirements and the merger with Energy Bank in 2018.
