Stories and facts
GN Bank is a prominent, privately owned commercial bank in Ghana, with an extensive network of over 260 branches spread across the country's ten regions. As one of the licensed private commercial banks in Ghana, GN Bank has firmly established its presence in the nation’s financial sector.
Originally incorporated as First National Savings and Loans (FNSL) Company Limited, GN Bank began its journey on May 8, 2006, as a savings and loans company. It wasn’t until September 4, 2014, that the institution received a universal banking license from the Bank of Ghana, marking its transition to GN Bank Limited.
GN Bank offers a broad range of banking services, including cash deposits and withdrawals, savings and loans, and financial advisory services covering private, corporate, and consumer banking. In 2014, GN Bank launched an innovative cash deposit service known as E-Banking.
This service allows customers to deposit cash into their accounts conveniently through their mobile phones using First SMS Alert banking and M-POS (Mobile Point of Sales) Electronic Statement, without needing to visit a branch.
Despite its extensive reach and innovative services, GN Bank faced significant challenges. In 2019, the Bank of Ghana revoked the licenses of 23 savings and loans companies, including GN Bank. This decision was due to the institutions' insolvency and the failure to recapitalize sufficiently to meet regulatory requirements.
The bank is led by a distinguished board, with Papa Kwesi Nduom serving as Chairman and Mr. Issah Adams as the Managing Director. Their leadership has been crucial in navigating the bank through various phases of its development.
GN Bank’s headquarters are located in Accra. As of June 2016, the bank operated 260 branches across Ghana. The distribution of branches is as follows: Ashanti Region: 23 branches, Brong-Ahafo Region: 44 branches, Central Region: 31 branches, Eastern Region: 30 branches, Greater Accra Region: 38 branches, Volta Region: 18 branches, Northern Region: 29 branches, Upper East Region: 18 branches, Upper West Region: 14 branches, and Western Region: 27 branches.
GN Bank has also been active in community engagement, most notably as the headline sponsor of the GN Bank Division One League from 2014 to 2017. This three-year sponsorship deal with the Ghana Football Association was valued at 1.2 million cedis.
In recognition of its rapid growth and impact, GN Bank received the award for Fastest Growing Bank in Ghana at the 2015 Association of Ghana Industries Awards.
GN Bank's journey reflects a blend of significant achievements and formidable challenges, highlighting its resilience and commitment to providing comprehensive banking services across Ghana.
