First Atlantic Bank has formally initiated the process to become a publicly listed institution, a move the Board describes as an important step in strengthening governance, improving transparency and positioning the bank for long-term expansion.
The decision comes at a time when confidence and capital rebuilding remain central to Ghana’s financial sector following years of regulatory reforms.
Confirming the development in a statement, Board Chairman Amarquaye Armah said the bank’s decision was anchored in its wider strategic vision. He noted that “the commencement of our journey toward becoming a publicly listed institution is a bold and strategic step for the Bank” and added that “it reinforces our commitment to strong governance, sustainable value creation, and the pursuit of growth opportunities that will benefit our customers, shareholders, and communities.”
The new direction coincides with a period of improved financial performance. First Atlantic Bank’s unaudited results for the third quarter of 2025 show profit before tax rising sharply to GH¢371.3 million compared with GH¢207.9 million in the same period last year.
The bank recorded profit for the period of GH¢252.5 million, nearly double the GH¢133.5 million posted in September 2024. Total assets increased to GH¢15.66 billion, up from GH¢12.26 billion a year earlier. The improvement was driven by strong growth in investment securities, higher interest income and steady expansion in customer deposits, which closed the quarter at GH¢13.83 billion. The bank’s capital adequacy ratio stood at 15 per cent, above regulatory requirements.
Analysts say a transition to the Ghana Stock Exchange will require enhanced disclosures, strict reporting disciplines and adherence to higher governance standards. They also note that a successful listing could strengthen First Atlantic Bank’s balance sheet and widen its access to long-term capital, especially in an economic environment that places increasing premium on transparency and investor protection.
The bank said the move aligns with its commitment to broaden public participation, strengthen accountability and deepen its role in Ghana’s financial system. It explained that becoming a publicly listed company would support its long-term investments in digital infrastructure, product innovation and financial inclusion while amplifying its contribution to national development.
Management indicated that the listing process would unfold gradually over the coming weeks and months, with periodic updates issued to customers, investors and the general public through official communication channels. The statement emphasised that the bank would continue to uphold its identity as a “refreshingly different” institution despite the structural transition.
First Atlantic Bank reiterated its pledge to maintain a stable operational environment, expand access to financial services and create value for its stakeholders.
The bank added that its strategic shift towards public ownership demonstrates confidence in its governance systems and its capacity to meet the regulatory and performance standards expected of listed financial institutions.