The Ghana Stock Exchange (GSE) has given the green light to First Atlantic Bank's Initial Public Offering (IPO), marking a significant milestone in the country's capital market.
This move, which comes after securing regulatory approvals, positions First Atlantic Bank to become the first company to undertake an equities IPO on the GSE since 2018.
According to the Managing Director of the Ghana Stock Exchange, Abena Amoah, this development signals renewed confidence in Ghana's capital market and the Exchange's ability to mobilize long-term capital for corporate growth.
"This important step underscores growing confidence in our market and reinforces our commitment to supporting institutions to raise capital," Amoah said, congratulating the bank and its advisors for their hard work in bringing the transaction to fruition.
If completed, First Atlantic Bank will become the 12th bank on the GSE, adding one more option for investors and reinforcing the BoG’s ongoing effort to develop Ghana’s equities market.
Financial performance
First Atlantic Bank reported a significant surge in its financial performance, with profit before tax rising sharply to GH¢371.3 million for the third quarter of 2025, compared to GH¢207.9 million in the same period last year.
This impressive growth reflects the bank's strong performance, driven by increased interest income, steady expansion in customer deposits, and robust growth in investment securities. Total assets increased to GH¢15.66 billion, up from GH¢12.26 billion a year earlier, while customer deposits closed the quarter at GH¢13.83 billion.
The bank's capital adequacy ratio stood at 15 per cent, above regulatory requirements, demonstrating its strong financial position. This financial stability has likely contributed to the bank's confidence in pursuing its growth ambitions.
Momentum
The IPO is expected to inject new momentum into the equities market, offering investors a chance to participate in one of Ghana's notable banking brands. With this development, the GSE is optimistic about the prospects of the capital market, and many are watching closely to see the impact it will have on the economy.
The Exchange has in recent years intensified efforts to attract more listings as part of broader measures to deepen the market.
The GSE said it remains committed to supporting corporates seeking both short- and long-term financing solutions, and encouraged more companies to leverage the capital market for expansion and value creation.
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