Monitoring activities of the Energy Bank and First Atlantic bank on merger talks in order to raise the 400 million cedis minimum capital requirement for banks, we the Financial Literate Generation (FLG) as a group in all the 10 regions of Ghana wishes to commend and thank the two banks for such a credible move.

We know it’s going to be very positive. Ghana is a case of very innovative” reforms and is “ahead of the curve and confidence is returning to the banking system.

Financial Literate Generation. (FLG) will also like to use this opportunity to thank the two banks of our continuous excellent working relations at all times especially with their untainted and excellent financial records with their cherished clients.

The Financial Literate Generation. (FLG) our understanding, is that The Energy Commercial Bank and First Atlantic Bank will join forces becomes one of entity’s to raise the 400 million cedis for the banks to able to meet the mark and meet the deadline by the Bank of Ghana.

The Financial Literate Generation.(FLG) gives them our overwhelmingly support to the business combination and can be described as a fair deal that would benefit all stakeholders of the banks, especially those who envisaged better returns. When the approval comes from the regulatory body.

We believe the business combination of the two banks would further strengthen the two banks as a formidable financial institution with wider branch network and strong retail franchise.
It’s evident the common values of both banks including excellence, professionalism and other numerous synergies.

The Financial Literate Generation. (FLG) see the merger as something that would maximise values for the customers and shareholders of the banks and become more attractive combination for stakeholders.



It will also increase its earnings, reduce costs and leverage on the synergies from the two banks to consolidate its market share.

The Financial Literate Generation.(FLG) expects and also envisages that the emergent two from the merger would be a market leader in service delivery in all locations with branches well situated in metropolitan centres in Ghana with attractive demographic characteristic.”

As a Group we see the merger as something that will help the two banks become a major player in corporate banking and other services, which would strengthen its traditional strengths in structured and trade finance, cash management and treasury.

The merger would lead to economies of scale that would lead to reduction in operating while simultaneously widening the market share of the bank and market penetration, providing opportunities for increased revenues.

The Financial Literate Generation. (FLG) is very happy that with this merger, the two banks are laying the foundation for future earnings growth and better financial performance. As we expect to increase earnings, cut costs and significantly build shareholder value.

We call on all Ghanaian’s to embrace the First Atlantic Bank signed deal to acquire The Energy Commercial Bank Limited.

With this acquisition it will increase the two banks capital beyond the stated Ghc 400million set by the BOG and will position them as wit continuity as one of the best performing banks in Ghana.

We also call on Ghanaians to ignore stories that are Anti Banking and that the apparent delay in announcing the decision to resort to merger talks could make some uncertain clients withdraw their money is not correct. And such statements must come with caution from much respected Bankers and Industry players.

As Energy Commercial bank and First Atlantic Bank continue to wait for the Bank of Ghana for the approval.We as a group .The Financial Literate Generation.(FLG) calls on Ghanaians to ignore cheap financial predictors of a possible reaction by customers. We wish all other Banks well.