First Atlantic Bank is expanding its footprint beyond Ghana with the official opening of a new subsidiary in Liberia. The full-service commercial bank launched First Atlantic Bank Liberia in Monrovia on July 31, marking the institution’s first international venture. Liberian President Joseph Boakai presided over the commissioning ceremony, calling the launch a significant milestone for regional economic cooperation.
President Boakai backs the expansion
Boakai emphasized the move as a strong vote of confidence in Liberia’s improving investment climate. In a statement following the launch, the president assured the new bank that his government remains committed to security and reforms. He stated that the successful entry of the lender “proved that serious African investors are prepared to back Liberia’s economic recovery.” Boakai also remarked that the country is “now moving in a very serious way” toward becoming an attractive destination for business.
“Africans can trust one another to come and do business,” he said. “We want to assure you that our government will work with you to make sure that you succeed.” The president added that the government would continue to guarantee security while implementing reforms designed to facilitate investment in the West African nation.
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Legal and operational framework
Templars advised First Atlantic on the establishment and licensing of the Liberian subsidiary. The firm’s Ghana-based team, led by partner Sarpong Odame, handled the engagement. Managing partner Augustine Kidisil supported on key aspects of the process. Associates Eyram Homenya and Maame Kwankyewah Awuah also contributed to the team.
Templars provided guidance on the design and implementation of the subsidiary’s regulatory and corporate governance framework. The team assisted with the development of operational policies and conducted legal due diligence on local shareholders and strategic partners. They also helped structure the board of directors and advised on the regulatory aspects of appointing senior management and other foundational personnel matters.
The legal team worked to ensure the new entity met all necessary requirements for operation in Monrovia. Their involvement covered the foundational employment and personnel matters that establish a bank’s internal structure before it begins serving the public. This groundwork is standard for any new financial institution entering a regulated market.
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Expanding a customer-centric model
First Atlantic originally operated as a merchant bank in 1995 before transitioning into a universal bank in 2011. The institution became a publicly listed company on the Ghana Stock Exchange in 2025. It now offers personal, corporate, and digital banking services. The bank announced in June that it had secured regulatory approval to operate in Liberia, noting that the license would allow it to extend its customer-centric banking model beyond Ghana’s borders.
With years of experience in retail and corporate banking, the lender intends to make a meaningful impact in the Liberian market. The bank plans to support trade, entrepreneurship, and financial inclusion by offering modern banking solutions tailored to local needs. This strategy aligns with the broader trend of African financial institutions seeking growth opportunities across the continent. As traditional markets become saturated, regional expansion offers a path for continued development.