First Atlantic Bank to sack 100 staff this week

Over 100 Professional banking staff of defunct First Atlantic Bank will be sent home this week, Kasapafmonline.com has gathered.

Sources tell this website that the staff who will be given the marching orders with leave with either no or one-year package following the merger of First Atlantic bank and Energy Bank.

A crunch meeting is expected to be held later in the day after which the affected staff will be officially communicated to.

The job loss to these banking staff sparks a completely new circle of economic hardship and further exacerbate the economic plights of the numerous mouths who depend on the individual for their livelihood.

In December 2018, First Atlantic Bank and Energy Bank successfully merged to meet the minimum capital requirement.

The two banks entered into this merger after Energy Commercial Bank failed to raise the targeted amount of GH¢340 million to help meet the new minimum capital requirement of GH¢400 million set by the Bank of Ghana.

This resulted in the two banks signing a MoU to merge their business to help them meet the new capital levels set by the Bank of Ghana (BoG).

On December 15, the Bank of Ghana (BoG) gave a “no objection” to the planned merger talks between the two banks.

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