| GN Bank | |
| Type: | Private ownership |
| Foundation: | 30 May 1997 |
| Location: | Accra, Ghana |
| Key People: | Papa Kwesi Nduom Chairman Issah Adam MD[1] |
| Num Employees: | 1,677 |
| Industry: | Private banking, National development banking, Asset management, Investment banking, Financial services |
| Products: | Private banking, National development banking, Asset management, Investment banking, Investments, Loans, Savings, Checking, E-banking |
GN Bank is an indigenous private Ghanaian owned commercial bank in Ghana. GN Bank is one of the private commercial banks licensed to operate in Ghana.[2] GN Bank has over 260 locations across the 10 regions of Ghana.[3]
GN Savings and Loans Company Limited was originally incorporated as First National Savings and Loans (FNSL) Company Limited and licensed as a Savings and Loans Company on 8 May 2006. It was subsequently issued with a universal banking license by the Bank of Ghana on 4 September 2014 and was renamed GN Bank Limited.[4] [5]
GN Bank offers mainstream banking services which include cash deposits and withdrawals, savings and loans and financial advice consultation (private banking, corporate banking, consumer banking, corporate products, lending products, special services, money transfer).[6] In 2014, GN Bank introduced a cash deposit service known as E-Banking. The service allows GN Bank customers to deposit cash into their bank accounts at their convenience through their smartphones (mobile phones) via First SMS Alert banking (First Net Banking) and M-POS (Mobile Point Of Sales)Electronic Statement without physically being present in any bank branches of the GN Bank.[7]
In 2019 the bank of Ghana revoked the licenses of 23 savings and loans companies and finance house companies which included the GN bank.
A statement issued by the BoG on Friday, 16 August 2019 said the revocation of the licences of the institutions had become necessary because they were insolvent even after a reasonable period within which the Bank of Ghana had engaged with them in the hope that they would be recapitalized by their shareholders to return them to solvency.[8]
GN Bank is headquartered in Accra. GN Bank as at June 2016 has Two -hundred-and-sixty (260) operational branches in all the ten regions of Ghana territorial entities: Ashanti (23 operational branches); Brong-Ahafo (44 operational branches); Central (31 operational branches); Eastern (30 operational branches); Greater Accra (38 operational branches); Volta (18 operational branches); Northern (29 operational branches); Upper East (18 operational branches); Upper West (14 operational branches) and Western (27 operational branches).[10]
On 30 December 2014, GN Bank became the headline sponsor of the GN Bank Division One League.[11] This sponsorship agreement between the GN Bank and the GFA is a three-year deal worth 1.2 million cedis to 2017.[11]