First National Bank (FNB) has confirmed to JoyBusiness in an email that it is in possible takeover talks with GHL Bank.

According to FNB, the talks are at the initial stages and it would be unfair to give details at the moment.

“We wish to state that discussions with GHL Bank are at a very early stage and it would therefore not be appropriate to comment or provide any specifics at this moment,” the bank said.

Last week, JoyBusiness reported that First National Bank has opened talks to possibly takeover GHL bank.

Related:  First National Bank likely to takeover GHL Bank

JoyBusiness learned that GHL opened up for these talks because it was having challenges in meeting the new capital requirement of ¢400 million due to some issues with one of its biggest shareholder Abraaj.

In the email, First National Bank also maintained that it is going ahead with the “takeover” talks, not because it cannot meet the new capital requirement. It added that as at December 12 it has met the new capital requirement. 

“We are well-positioned to continue to offer banking services regardless of the outcome of any discussion we have with any potential would-be partners,” he said.

 GHL Bank, on the other hand, had a stated capital of ¢127 million as at September this year.