First National Bank Ghana (FNB) has announced to its customers that it has acquired a 100 percent stake in the Ghana Home Loans Bank (GHL) effective today, May 5, 2020.

According to a communique by First National Bank Ghana, the transaction has been approved by the regulators and the boards of the two banks with GHL bank becoming a subsidiary of the First National Bank Ghana.

The bank says further developments will be communicated in due course.

Read First National Bank's communique below;

Dear valued customer, we are pleased to announce that First National Bank Ghana has acquired hundred percent of GHL Bank. Effective 5th, May 2020, GHL Bank will become a subsidiary of First National Bank Ghana. The transaction has been approved by the regulators and the boards of the two banks. You are advised to continue doing business with First National Bank. New developments will be communicated in due course.