Where We Came From

Republic Bank (Ghana) PLC (formerly HFC Bank (Ghana) Limited) was first licensed as a mortgage financing institution to implement the IDA/SSNIT Pilot Housing Finance Programme in Ghana. Republic (HFC) was incorporated on May 7, 1990 under the Ghana Companies Code 1963 (Act 179) as a private limited liability company. We commenced business on December 2, 1991 and was licensed by the Bank of Ghana as a non-bank financial institution on August 1, 1994. On 17th November 2003, we were issued with a universal banking license by the Bank of Ghana, thus, evolving into a fully-fledged Universal Bank. On May 13, 2015, the Securities and Exchange Commission signed off the results of a Mandatory Tender Offer (MTO) which officially made HFC Bank (now Republic Bank) a subsidiary of Republic Financial Holdings Limited. Republic Financial Holdings Group is the leading Bank in Caribbean region, headquartered in Trinidad and Tobago with a 180-year old history. In April, 2018 HFC Bank rebranded to Republic Bank.

Major Milestones

  • Establishment of the First Collective Investment Scheme in Ghana
    Republic (HFC) is reputed for establishing the first Unit Trust (Collective Investment Scheme) in Ghana in July 1991. In 1993, it incorporated Home Finance Investment Fund Limited (HFIF) renamed HFC Investments Services Limited (HFC-ISL) now Republic Investments Limited, a wholly owned subsidiary. In 1995, the subsidiary company also successfully promoted the first Real Estate Investment Trust (REIT). To date, Republic Investments manages four funds targeting different sectors of the economy namely Unit Trust, Equity Trust, REIT, Future Plan.
  • Pioneer in Bond Issuance
    In September 1996, Republic (HFC) introduced the first corporate bonds on the Ghana Stock Exchange by undertaking a shelf registration of USD35 million bonds on the Exchange. Between 1996 and 2007, out of the USD35.0 million Shelf-registered bonds, a total of USD20.65 million bonds have been issued in tranches. The Bank further made an additional GBP1.2 million shelf-registered bonds on the GSE in August 2001. In addition, in the year 2009, Republic (HFC) issued two (2) tranches of US Dollar Corporate Bonds amounting to US$9.44 million through private placements. These bonds have all been successfully redeemed.
  • Providing Affordable Housing for Public Sector Workers
    In November 2007, Republic (HFC) was appointed Manager of the Public Sector Employees’ Housing Scheme which was put together by Republic Bank (HFC Bank) and the Government of Ghana aimed at providing affordable housing for public sector workers. The bank has financed over 350 mortgages under the scheme.
  • Strategic Alliances and Technical Assistance Programmes
    Republic (HFC Bank) has strategic alliances in neighboring West African countries such as Nigeria, The Gambia, Sierra Leone and Liberia. Through a technical assistance programme, the Bank assisted the National Social Security and Insurance Trust (NASSIT), the National Pension Fund of Sierra Leone to establish a mortgage finance company in Sierra Leone in 2008.

Republic Bank (HFC Bank) worked with the Central Bank of The Gambia to establish a mortgage institution in The Gambia in 1995.5

Our Parent Company

Our Parent Company, Republic Financial Holdings Limited is the largest and most profitable independent Bank in the English-speaking Caribbean, having served the region for over one-eighty (180) years. As at the end of the 2020 financial year, the total asset of the Group stood at $15.563 billion.

Republic Financial Holdings Limited (RFHL) is the registered owner of all of the Banks in the Republic Group – Republic Bank Limited, Republic Bank (Guyana) Limited, Republic Bank (Barbados) Limited, Republic Bank (Grenada) Limited, Republic Bank (Suriname) N.V., Republic Bank (Ghana) Limited, Republic Bank (BVI) Limited, Republic Bank (Cayman) Limited, Cayman National Corporation, Republic Bank (EC) Limited, Republic Bank (Anguilla) Limited, Republic Bank (St. Maarten) N.V., and other subsidiaries. In keeping with international best practice, this holding company was formed with the aim of offering increased operational efficiencies and optimum management of the Republic Group; ultimately leading to greater value for our shareholders and clients while enabling greater strategic focus and diversification.

Read more – www.rfhl.com



Our Shares

Name %
Republic Financial Holdings Limited 66.54
Social Security & National Insurance Trust 25.87
Ghana Union Assurance Company Ltd. 4.97
SCGN/ Ghana International Bank PLC 1.08
Others 1.54