INTERCONTINENTAL BANK
New bank in town is African powerhousebat

	Intercontinental is the 14th largest bank in Africa, and among the world’s top 1000

In 2006, Intercontinental Bank moved into the Ghanaian market when it received a universal banking license from the Bank of Ghana. As part of its market entry, Intercontinental had acquired Ghanaian Citi Savings & Loans, a micro finance non-banking financial institution, and Intercontinental Bank Ghana (IBG) officially opened its doors to the public on October 6th with a network of five business offices located in the major commercial and industrial metros of Accra and Tema.

Intercontinental Bank comes into the Ghanaian market with a very strong track record at home. Its 17 years of operation in Nigeria have been characterised by astronomical growth and development that have seen it rise to become the 14th largest bank in Africa, according to the Financial Times of London, and among the top 1000 banks in the world. It has also been given an AA+ rating by Fitch. In Ghana, IBG plans to rollout a number of new branches and is vigorously pursuing the twin strategy of customer service and innovative banking.

CEO Albert Mmegwa says that IBG aims to be among the country’s top five banks by 2012, adding that Ghana’s stability is a key selling point for new companies moving in. “I can see Ghana being the first choice for investors in West Africa within five years.”