For decades Republic Bank has been engaged in making a difference in communities throughout Grenada. Our philanthropic programmes have been focused on developing the skills, talent and intellectual prowess of the people of Grenada and the Caribbean archipelago. Through our support of community outreach programmes, sport, culture, poverty alleviation, education and entrepreneurship we have continued to partner with individuals and groups in the communities in which we operate to promote self-sufficiency, development and hope for the future.
Port of Spain, Trinidad: Monday 10 June, 2013: Republic Bank Limited has announced its acquisition of 68,854,703 shares in HFC Bank Ghana, moving its shareholding to 32.02%, thereby making it the single largest shareholder in that bank. Republic Bank earlier held an 8.79% shareholding in the Ghanaian bank, which it acquired in December, 2012.
The share purchase was made on Friday 7th June on the Ghana Stock Exchange with approval of the Central Bank of Ghana. The shares were previously held by Aureos Africa Fund LLC.
In speaking on the recent share acquisition, Republic Bank's Managing Director, David Dulal-Whiteway confirmed that the Bank had made an application to the Ghana Securities and Exchange Commission, for an exemption from the requirement to make a mandatory takeover offer for the remaining shares in HFC Bank. He said that should the waiver not be granted by the Ghana SEC, Republic Bank would, subject to regulatory approvals, be obliged to make a mandatory offer to all shareholders of HFC Bank Ghana to purchase their shares, in keeping with the Code on Takeovers & Mergers.
Dulal-Whiteway said that Republic Bank was excited about the opportunities that this investment in HFC Bank Ghana would bring to its clients here in the Caribbean, who are desirous of doing business on the African continent. He was equally excited, he said, at the value that Republic Bank would add to the operations at HFC Bank, and said that Republic would soon be working closely with HFC's executive management team on particular business growth areas already identified. He further revealed that Mr. Robert Le Hunte, General Manager, Corporate and Investment Banking at Republic Bank Limited, has been appointed to the HFC Bank Board of Directors.
Republic Bank Limited is an independent Caribbean bank with a history that spans 176 years of service. It has its roots in the Colonial Bank which started business in Trinidad and Tobago in 1837, later becoming Barclays Bank Trinidad and Tobago Limited and eventually Republic Bank Limited. Republic Bank boasts a current asset base of US$8.6billion (TT$51.6 billion) and profit after taxation of US$88.09 million (TT$1.2 billion).
HFC Bank (Ghana) was licensed as a commercial bank in 2003, and today operates 26 branches throughout Ghana, providing a wide range of banking services, including mortgages and real estate services, commercial banking, investment banking, microfinance, private equity and venture capital fund management. It was instrumental in the development of the mortgage industry in Ghana and continues to be the leading home loan provider in that country,commanding 30% of the market. HFC Bank has an asset base of US$301 million and profit after taxation of US$7.7 million based on its last published financials.
Grenada National Museum Receives Major Donation from Republic Bank
Mr. Keith Johnson handing over cheque to
Mrs. Vivien Radix and Mr. John Angus Martin of the Grenada National Museum
St. George's - May 16, 2013: At the end of an evening of discussion at the Grenada National Museum in celebration of International Museum Day, the Board of Directors was presented with a cheque for $45,000 by Mr. Keith Johnson, Managing Director of Republic Bank (Grenada) Limited. This was in response to a proposal submitted by the Museum requesting funding of new exhibits for the Amerindian Heritage and European Invasion Rooms. Republic Bank has become the first major donor towards transforming the Museum into a premier attraction for residents and visitors. The Grenada National Museum humbly thanked Republic Bank for its significant investment and vote of confidence for this new direction.
Mr. Johnson remarked that it is important for a nation to preserve its history, heritage, and culture, and that Republic Bank's contribution to the museum's revitalization plan is aimed at fostering that preservation. The donation was made under the Bank's "Power to Make a Difference" programme, through which financial support is given for the development of people through education and the empowerment of the communities in which it operates.
Presentations on the future of the Museum and its role in education and tourism, by artist Suelin Low Chew Tung and museum members, Liz Raffety and John Angus Martin, were part of the Museum's open house to mark International Museum Day. Senator Brenda Hood also participated in the open house; lauded the museum and its initiatives; and said that the museum had the backing of the Ministry of Culture.
Republic Bank Heads Seminar Geared At Economic Growth in The Tourism Sector
Dr. Ellen Peel, presenter (2nd from the right) along with Hon. Alexandra Otway-Noel, Keith A. Johnson and Republic Bank Officials
Republic House, St. George's; May 23, 2013: Further to the Republic Bank-sponsored one-day Business Summit themed: "Fast Forward Together, Reigniting Growth" held last month, the Bank facilitated another forum on Thursday, May 23rd, aimed at stimulating private sector activity in the area of sport fishing. The presenter on this occasion was Dr. Ellen Peel, President of the Bill Fish Foundation, Fort Lauderdale, USA, and President Obama's Commissioner for Recreational fishing. Other participants included Hon. Alexandra Otway-Noel, Minister of Tourism, Civil Aviation and Culture, marina operators, fishing club members, hotel operators, representatives from the Fisheries Division and the Grenada Board of Tourism, as well as senior managers of Republic Bank (Grenada) Limited.
The main objective of Dr. Ellen Peel's presentation was raising awareness among key stakeholders, of the economic benefits that can be realized, if Grenada invests in becoming a sport fishing destination, which requires the creation of a partnership between the Ministries of Tourism and Agriculture, and those Â involved in the sport and commercial fishing sectors. Focus was also placed on sustaining the fish stock, beneficial to this form of tourism, for greater returns by means of establishing protections for juvenile billfish and landings limits.
Republic Bank is pleased to be associated with this forum geared to foster economic growth in the tourism sector through sport fishing.
Republic Bank's Managing Director Keith Johnson present's cheque to Kirl Hoschtialek GBT's Acting
Product Development Officer
Republic Bank continues to Support Carriacou Maroon & String Band Festival - $5,000.00
St. George's, Grenada. April 19, 2012 - Republic Bank continues to support culture on the sister isle, Carriacou with a pledge of $5,000.00 to the Grenada Board of Tourism, organizers of the Carriacou Maroon which takes places this weekend.
Maroon & string band music are cultural traditions uniquely preserved in Carriacou over the years, showcases traditional "smoked" food, dance, string band music, drumming and other cultural performances from local and regional participants.
On making the presentation to the Board of Tourism's Acting Product Development Officer, Mrs. Kirl Hoschtialek, the Managing Director of Republic Bank, Keith Johnson reaffirmed the bank's unwavering commitment to the preservation and development of the values and cultural heritage of our ancestors.
Republic Bank encourages all to support this unique festival, which also serves as a tourist attraction and income earner for the Sister Isle. The Bank joins in commending the Grenada Board of Tourism and other contributors, in ensuring that the festival is preserved for future generations.