First Capital Plus now Capital Bank

Indigenous Ghanaian bank, First Capital Plus Bank has re-branded to Capital Bank.

This was unveiled at the launch of the rebranding event in Accra on Wednesday, December 2, 2015.

Pulse Business understands that plans are far gone to initiate the leaner version of the bank which burst onto the scene in 2009.

First Capital Plus is a wholly owned Ghanaian Bank, which was given a class one universal baning licence in August 2013 after operating as a Savings and Loans from October 2009.

Under the leadership of Dr. Mensa Otabil as Board Chair, it has since then opened 18 operational branches and won several awards.

Speaking to the media at the launch, Chief Executive Officer of now Capital Bank Fritzgerald Odonkor said, "What is interesting is that for the past three months our performance has increased and we are leveraging on this and our rebranding to actually increase our profits and our level of efficiency. Yes we are part of the system, we are experiencing the same challenges as other institutions are facing but our commitment to efficient services to meeting the needs of clients and giving them value has given us an advantage especially our ability to develop products."

He added that, "These products we developed brings in more of the informal sector to the formal sector giving us the leverage which we intend to build upon under our new name capital bank to ultimately increase our returns to our shareholders and also other stakeholders."

However, the bank which has struggled recently, leading to a difficulty in meeting sponsorship obligations to the Ghana Football association since it signed a 10 million dollar- deal as main sponsor of the elite division.