Annual Report 2015
65
4
Financial
2010
Launch of Credit Card with Chip and PIN
Technology as well as the introduction of GPRS/Wireless
terminals at merchants.
2013
Shareholding in HFC Bank Ghana increased to
40%. Currently HFC Bank Ghana is a subsidiary of Republic
Bank with a 57% shareholding.
2015
Republic Bank welcomed Republic Bank
(Suriname) N.V. into its expanding financial Group. Republic
Bank acquired RBC Royal Bank (Suriname) N.V. from RBC
Financial (Caribbean) Limited, through the purchase of Royal
Overseas Holdings (St. Lucia) Limited. The Suriname bank has
a network of five branches in the capital of Paramaribo and
one in Nickerie, and assets of approximately US$518 million
as at September 30, 2015.
2016
Proposed establishment of a Holding Company
– Republic Financial Holdings Limited (awaiting requisite
approval).
