About First Atlantic Bank
First Atlantic Bank is a company based in Accra (Ghana) founded in 1995.. First Atlantic Bank offers products and services including Internet Banking, Mobile App, Savings Accounts, and Loans. First Atlantic Bank operates in a competitive market with competitors including Access Bank, Scotiabank, Fidelity Bank, First National Bank Ghana and Guaranty Trust Bank, among others.
- Headquarter Accra, Ghana
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Sectors
Financial Services
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name First Atlantic Bank
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
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Investors
AFIG Funds
& 1 more
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Employee Count
Employee Count
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Products & Services of First Atlantic Bank
First Atlantic Bank offers a comprehensive portfolio of products and services, including Internet Banking, Mobile App, Savings Accounts, and Loans. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for online bill payments and fund transfers
App for mobile banking and account management services
Accounts for saving and earning interest
Services for personal and business loan applications
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Operations Team
11 people
Software Development Team
10 people
Leadership Team
9 people
Head Team
9 people
Relationship Team
7 people
Sales and Marketing
7 people
Legal and Compliance
5 people
Human Resources and Administration
3 people
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Funding Insights of First Atlantic Bank
- Total Funding Total Funding
- Total Rounds 2
- Last Round Last Round
- First Round First Round
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2017 | Amount | Private Equity Round - First Atlantic Bank | Valuation |
investors |
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| Jan, 2016 | Amount | Unspecified - First Atlantic Bank | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in First Atlantic Bank
First Atlantic Bank has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include AFIG Funds and Phoenix Capital Management. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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AFIG Funds is focused on private equity investments in Africa.
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Founded Year | Domain | Location | |
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Phoenix Capital Management is engaged in financial intermediation and asset management.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by First Atlantic Bank
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - First Atlantic Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
First Atlantic Bank Comparisons
Competitors of First Atlantic Bank
First Atlantic Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Access Bank, Scotiabank, Fidelity Bank, First National Bank Ghana and Guaranty Trust Bank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Commercial banking services are offered in Nigeria.
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| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Retail banking services are provided to customers in Ghana.
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| domain | founded_year | HQ Location |
Commercial banking services are provided across Ghana.
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| domain | founded_year | HQ Location |
Nigerian multinational financial institution
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on First Atlantic Bank
Frequently Asked Questions about First Atlantic Bank
When was First Atlantic Bank founded?
First Atlantic Bank was founded in 1995 and raised its 1st funding round 21 years after it was founded.
Where is First Atlantic Bank located?
First Atlantic Bank is headquartered in Accra, Ghana. It is registered at Accra, Greater Accra, Ghana.
Who is the current CEO of First Atlantic Bank?
Odun Odunfa is the current CEO of First Atlantic Bank.
What does First Atlantic Bank do?
First Atlantic Bank was established in 1995 as a commercial bank headquartered in Accra, Ghana. Operations are focused on retail and corporate banking within the financial sector. Services include deposit accounts, loans, and trade finance, primarily serving clients in Ghana. The bank is led by CEO and Managing Director Odun Odunfa. Its domain, firstatlanticbank.com.gh, supports online access to these offerings.
Who are the top competitors of First Atlantic Bank?
First Atlantic Bank's top competitors include Access Bank, Scotiabank and Fidelity Bank.
What products or services does First Atlantic Bank offer?
First Atlantic Bank offers Internet Banking, Mobile App, Savings Accounts, and Loans.
Who are First Atlantic Bank's investors?
First Atlantic Bank has 2 investors. Key investors include AFIG Funds, and Phoenix Capital Management.
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