The much talked about re-branding of bank, which is expected to result to the change of HFC Bank’s name to Republic Bank Ghana Limited according to Mr. Jordan will take place on April 24, 2018 having secured the necessary regulatory approval.
HFC’s re-branding comes after shareholders also gave approval to the board to change the name of the bank from HFC Bank to Republic Bank Ghana Limited at the last Annual General Meeting of the shareholders in September 2017.
Managing Director of HFC Bank said, the name change was, therefore, to bring focus on the new image of the bank and support staff to live the new culture which has been introduced in alignment with the group’s culture and core values.
In May 2015, Republic Bank Limited became the majority shareholder in HFC Bank with almost 58% equity stake following the closure of the mandatory tender offer to shareholders and the subsequent approval by the Securities and Exchange Commission (SEC).
“Our bank even though has moved from an initial core business of mortgage to other areas, I can assure you that we still remain in the business of mortgage financing and we are the most diversified bank in Ghana today,” Anthony Jordan said.