By: Mathias Amoah
The management of Merchant Bank Ghana has change the name of the bank to Universal Merchant Bank.
The Universal Merchant Bank intend to delivers customer-focused banking services that are friendly, relevant, interesting, rewarding, intuitive and fun.
The re-branding will see its previous colours blue and white change to black and yellow, likewise the logo of the bank. This reflect the bank’s new look and image intends to reclaim its position as the premier corporate bank and expand into retail banking.
The Chief Executive Officer of the bank, Ms Nilla Selormey said this does not imply that the good practices and achievement of that bank are gone. According to her the change of name implies growth, new ideas, new and improved products.
‘As a proud parent trains a child to grow properly, and carry on the family name, so will we carry the torch that was lit when Merchant Bank was founded. We bring new experiences, new expertise, and freshness to your bank. Welcome to tradition, welcome to freshness, welcome to Universal Merchant Bank,’ she stated.
The bank is poise of good products, convenience atmosphere, people and local expertise, and service and international standards.
Fortiz Private Equity Fund acquired 90% shares of Merchant Bank, value at GH¢90 million for a majority stake in the bank.
This was after Fortiz made full payment for shares of Merchant Bank (Ghana) Limited by the transfer of funds held at the Bank of Ghana into the operating account of Merchant Bank (Ghana) Limited.
The remaining shares are been held by social security and national insurance trust (SSNIT) 8.96% and SIC Life 1.04%.