Acting Board Chairman for the Bank, Mr David Adom said Bank of Ghana has given a number of directives that are aimed at sanitizing the banking sector in the wake of some banks' inability to perform their traditional financial services of protecting depositors funds and providing loanable funds.

He said that Energy Bank is one of the banks that have survived the crisis.  The Bank has made profits every year since 2011 and paid  dividends to its share holders though none was paid in 2017 due to the introduction of the minimum capital requirement.

The launch, he said, was as a result of approval of their decision to go public by BOG, Securities and Exchange Commission (SEC) and the Ghana Stock Exchange (GSE); an attestation of the bank's strength.

The BOG under the new capital requirements among other things, expects banks to hold substantially more capital with the minimum equity requirements Common Equity Tier 1 (CET) being at least 6.5 per cent on Risk Weighted Asset on ongoing basis.The capital conservation buffer provides an additional 3.0 per cent of CET1 .

He attributed the banks’ successes to good corporate governance and said the board will be reconstituted after the IPO to reflect the composition of its shareholders and, therefore, urged all Ghanaians to purchase the shares.

The Managing Director, Madam Christiana Ekaete Olaoye said that the bank has adhered to all the practices and procedures given them by the Bank of Ghana. She said that the Ghanaian economy is one of the fastest growing economies today with a GDP (Gross Domestic Product) of about 8.2 percent in 2017 and an expected 7.0 percent this year, making it a conducive environment for businesses to take advantage of in order to gain returns.

The listing on the GSE, she also said, will ensure transparency, enhancement of good corporate governance practices and also support regulators to promote safety, soundness, and stability of the financial system.

"Becoming a Public Limited Liability Company raises investor confidence in the Energy Commercial Bank brand and strategically positions it for exciting opportunities and rapid growth" adding that "we plan to expand our reach between 2019 and 2022, and will, therefore, not relent in our efforts in doing this by performing consistently in the coming years in order to maximize returns to shareholders."

Madam Olaoye added that the bank is poised to provide more technology-enhanced

products.  A speech was read on behalf of the Governor of Bank of Ghana, Dr  Ernest

Addison, by Mr Elliot Amoako, Head of Banking supervision. He said that the minimum capital requirement will help the bank in a number of ways including meeting the minimum capital requirement and building a strong economy. He said that as regulators, the BOG looks forward to creating a stronger and more capitalized banking sector that will transform the Ghanaian economy.

He said ECB and eight other banks listed on the GSE represents only 30 per cent of regulated banks, an indication that more work has to be done to get other banks listed. He added that despite a few challenges, the macroeconomic conditions of the country have achieved success.

" Let me assure you that the financial sector reform will be expedited to transform both banks and SDIs into strong financial institutions which  are competitive and financially viable" he stated.

Mr Jacob Adu, Head of Issuers at the Securities and Exchange Commission said that the SEC appreciates the bank's commitment to supporting Ghana and the capital market. He urged the bank to uphold good corporate governance and hoped their performance will grow to attract more investors to Ghana.

The General Manager of the Ghana Stock Exchange, Mrs Elizabeth Mate-Kole lauded the banks decision to go public in order to meet their requirements and urged other banks to make use of the existing market to raise their capital.  She said it is also an indication of Energy Commercial Bank's commitment to building the Ghanaian economy adding that it will attract more investors who will like to see value".

The event which was launched at the Holiday Inn Hotel was attended by The Nigerian High Commissioner to Ghana; H.E Ambassador Olufemi Michael Abikoye, Nicholas Duncan-Williams ; Presiding Archbishop and General Overseer of the Action Chapel International ministry, representatives from the Ministry of Finance, Bank of Ghana and the Securities, Exchange Commission, IC Securities, stakeholders, investors and  the media.