Republic Bank, the largest Shareholder in HFC Bank has indicated its support for the Social Security and National Insurance Trust (SSNIT) to remove and replace three directors of HFC Bank.? SSNIT has expressed concerns about the governance structure of HFC bank but those concerns have been rubbished by the bank?s management.

HFCSSNIT formally requested for an Extra-Ordinary General Meeting (EGM).

The EGM which originally scheduled to take place on January 20 was suspended due to the pending suit.

An Accra High Court has directed that the EGM must be organized on Tuesday, January 27, after two shareholders attempted to place an injunction on the process.

Republic Bank commended the court for the swift delivery of the judgment.

The Director of African operations of Republic Bank Limited, Robert le Hunte in an exclusive interview with?Citibusinessnews?said the judgment is a victory for the shareholders of HFC Bank.

source: citifmonline


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