Shares of First Atlantic Bank PLC closed higher on their first day of trading on the Ghana Stock Exchange on Friday, gaining 0.40 pesewas to end the session at GH¢7.70, following the bank’s successful Initial Public Offering and listing on the bourse.
The indigenous lender, which became the first bank to list on the exchange in over seven years, entered the market after its IPO was oversubscribed, reflecting strong investor appetite and renewed confidence in Ghana’s banking and capital markets.
Speaking to journalists in Accra today (December 19, 2025) after a celebratory lunch to mark the listing, the Managing Director and Chief Executive Officer of First Atlantic Bank, Mr Odun Odunfa, said the decision to list on the GSE went beyond regulatory compliance and capital raising.
“There are a lot of reasons why. So first of all, we have to broaden the investor base. And we have to deepen governance. And in addition to that is what you’ve said about capital,” he said.
Mr Odunfa said the listing would serve as a platform to support the bank’s growth ambitions, including investment in technology, regional expansion and human capital development.
“We’re ambitious. We are investing heavily in digitalisation. We’re investing in our regional expansion plans across Africa, West Africa, and Africa. We’re also investing a lot in the human capital, fellow Ghanaians, developing capacity, skills, and so on of our people, and that’s why we’ve done this,” he said.On the impact of the listing on the bank’s brand, the Chief Executive said joining the stock exchange had significantly enhanced the institution’s visibility and credibility.
“The brand gets more visibility. The brand gets more exposure. Hopefully, that exposure and that visibility will help us to do more. And I think with coming on board of Ghanaian investors, both institutional and individual, we’ll have more belief, we’ll have more support, we’ll have more business,” he said.Mr Odunfa stressed that First Atlantic Bank was firmly rooted in Ghana and remained committed to Ghanaian ownership and participation.
“And so on many levels, this is a Ghanaian institution. We want to be clear that that is what it is, and we’re happy to welcome more people on board,” he added.
Commenting on the oversubscription of the IPO, he said the outcome reflected confidence not only in the bank’s business model but also in the broader economic environment.
“It says a lot about the confidence in the system right now, in our business. But we must be clear. The Ghanaian economy today, you’ve seen how the cedi has trended. You see how inflation has trended. You heard how our regulator has positioned itself. The various initiatives that they’ve taken. You’ve seen what the Ministry of Finance is doing. And you’ve seen what the government is doing,” he said.
“I think it’s a good time for Ghana. I think the progress we’re seeing, the stability, everything comes together on such an occasion like this. We must not minimise it. Things are being done well at the moment. We pray it continues,” he added.Asked how the bank intended to balance shareholder expectations with long term growth and risk management in a relatively shallow market, Mr Odunfa said the bank would remain disciplined and focused on sustainable value creation.
“Ours is a regulated business. We publish forecasts and we try to deliver. The only thing we can promise investors is that we’re going to run a decent business, the proper business. We will aspire to meet market expectations but we will not cut corners to do so. We will do our business properly and we’re going to build to last,” he said.
He said investors should expect consistent growth anchored in sound governance.
“They should expect that they’ve invested in a good business that will continue to grow and will continue to do things properly,” he added.
On why the bank chose to list on the Ghana Stock Exchange, the Chief Executive said the decision was both deliberate and patriotic.
