March 22, 2012, Accra – Access Bank (Ghana) Limited has announced that it has successfully completed the absorption of employees of Intercontinental Bank Ghana (“IBG”) following the Bank of Ghana approval on March 5, 2012, for the merger of the two banks into a single entity. About 90% of IBG employees have accepted their absorption into Access Bank Ghana and are now fully absorbed into the combined entity. Commenting on the employee absorption exercise, Mr. Dolapo Ogundimu, Managing Director of Access Bank Ghana said the bank was delighted that over 395 out of the total 448 employees of “IBG” employees “have successfully boarded the Access train”. He said the step marks a significant milestone in re-shaping the business and accelerating its growth and expansion over the next few years. “Although all IBG employees have been offered job opportunities with no diminution in their terms and conditions of service, we are aware that a few have not accepted the offer and have petitioned the National Labour Commission demanding severance pay. Access Bank has maintained a fair, objective and transparent process during the business combination, in line with international best practice. As such, the Bank remains committed to working with the Labour Commission and all other relevant bodies to uphold the laws of the land and address any residual issues arising from the merger”. Mr. Ogundimu added that “there are enough jobs for everyone and therefore does not see the need to terminate anybody’s employment. Access Bank has in the course of the entire process been keen to ensure that no employee of “IBG” is worse off as a result of the merger.” A statement issued by Access Bank said the “merger creates a formidable Ghanaian financial institution ranked amongst the top 7 in the banking industry by most metrics. With over 39 branch offices and 43 ATMs spread across the country, Access Bank Ghana is leveraging its geographical network to showcase its expertise in Treasury, Cash Management, Trade Finance and Technology driven banking solutions.” “Last week the Bank completed its rebranding exercise at all the Intercontinental Bank branches across the country, and is currently deploying technology driven banking solutions to further enhance the quality of service at these locations. Banking hours have also been extended from 4pm to 5pm each day to afford customers more time during the day to transact business.”