HFC Bank, a subsidiary of Republic Financial Holdings Limited has returned a profit of GH₵36,923,000 posted for the year ended 2017. This was included in the unaudited financials signed by the Board Chairman, Mr. Charles Zwennes and the Managing Director, Anthony Jordan.
Over the last three years, HFC Bank Ghana have implemented key initiatives in their effort to restructure and to build a robust bank in Ghana and are proud to report that the bank has returned to winning ways.
Some of the key initiatives undertaken by the new majority shareholder of HFC, Republic Financial Holdings Limited, include building a performance led culture, strengthening the recovery unit, investing in technology infrastructure, investing in people and communities and promoting brand visibility.
HFC Bank’s Rights Issue to raise Ghs 50M in 2017 was a resounding success. It significantly increased the bank’s stated capital by 51%. To underline this success, the HFC Bank parent company, Republic Financial Holdings Limited (RFHL), which has over $68 Billion in assets across English-speaking Caribbean, has given its strong indication to meet Bank of Ghana‘s new minimum requirement of GHS 400M before the set deadline.
HFC Bank Ghana Limited is a leading Universal Bank and the most diversified financial institution in Ghana. As a one-stop financial institution, its services include Retail Banking, Commercial Banking, Investment Banking, Mortgage Banking and Micro Finance. HFC Bank Ghana has been instrumental in the development of the mortgage industry in Ghana and continues to be the number one home loan provider in the country with over 30% share of the mortgage industry.
HFC Bank Ghana is now a subsidiary of the Republic Financial Holdings Limited and will soon become Republic Bank (Ghana) Limited. This move is to fully integrate the Bank with its Parent Company, RFHL and to leverage on the over 180 years of banking experience in RFHL.
Republic Financial Holdings limited is the largest and most profitable independent bank in the English-speaking Caribbean and is rated BBB+ by Standard and Poor’s.