Amalbank is expected to rebrand as Bank of Africa possibly by the end of next month. This was after the Ivory Coast based-bank acquired a 60 percent controlling interest in the bank. The bank is coming in as a strategic investor to help Amalbank meet the new capital requirement by the Central Bank. Officials have maintained that the new majority shareholder is not taking over the bank. Amalbank Managing Director, Menson Torkornoo told Joy Business management will also not change. “Bank of Africa has business in almost 13 African countries – they also have in Congo and in France - and if you have a big brother that is bringing in his muscle, you ride on that muscle and I believe that there are going to be bigger opportunities for us,” he added. Mr. Tokornu assures there should be no job losses. Bank of Africa currently operates in many Africa countries and has a representative office in Paris. It has a total asset base of a little over 2.5 billion Euros as at the end of 2009. It has three leasing companies, two investment firms and one brokerage. The group is acquiring the bank through its West African subsidiary in Ivory Coast. Source: Joy Business/Ghana