International Commercial Bank Ghana is expected to be re-branded as FBN Ghana by May this year.

The rebranding has been influenced by moves by the new owners to let Ghanaians connect to the brand.

First Bank Nigeria which is the biggest bank in West Africa, in terms of assets, took over International Commercial Bank Ghana last year.

Joy Business has learnt that the new owners are planning to introduce some innovative services and products. First Bank's entry into Ghana would bring the number of Nigerian banks in Ghana to six.

A former Minister of Health, and Member of Parliament for Wa West, Jospeh Yieleh Chireh has been appointed Chairman of the seven member board of International Commercial Bank  

Meanwhile, the country can now boast of more women appointed as Managing Directors of commercial banks following the appointment of Madam Subu Giwa-Awu as the Managing Director of ICB Ghana.

She joins Nilla Selormey of Merchant Bank Ghana and Abialo Bawuah of UBA Bank Ghana to bring the number of female Managing Directors to three.

Analysts say this should be a good development especially when as at 2012, all the 28 commercial banks in country were headed by men.