Amalgamated Holdings and Securities Limited, commonly known as AmalSec & Securities Subsidiaries, is a commercial financial and securities outfit in Ghana.
History The firm was incorporated in 1997. In 2006, 49% shareholding in AmalSec was purchased by Meekly Enterprises of Nigeria. Meeky is also a major shareholder in Oceanic Group De Banco, one of Nigeria's leading financial services providers. In 2007, the total asset valuation of AmalSec was estimated at US$136 million.AmalBank Annual Financial Report 2007 In June 2009, it was reported in the online Ghanaian publication "Public Agenda" that the total assets of AmalSec had doubled in 2008.AmalBank Doubles Assets in 2008 It is therefore estimated that the total assets of the securities firm, as of June 2009, is approximately US$272 million.
Acquisition by Banner of Africa Group In April 2011, majority shareholding (60%) in AmalSec was acquired by the banner of Bank Of Africa Group (B.O.A). AmalSec then went under the umbrella of the parent company Bank Of Africa Ghana Limited (B.O.A) AmalBank Acquired By Bank of Africa Group
Branch network As of May 2011, the bank has nineteen (19) branches and one agency in the following locations:
Head Office - Farrar Avenue, Kumasi Office - 24 February Road, Kumasi Maamobi Office - Nima Highway, Accra New Town Office - Hill Street Intersection, New Town Central Accra Office - Ollivant Arcade, Accra Ridge Office - Kanda Highway Extension, Accra Michel Camp Road Office - Aseidua Plaza, Tema Tamale Office - Daboya Street, Tamale Osu Office - Cantonments Road, Osu Takoradi Office - Market Circle, Takoradi Kwashieman Office - Motorway Extension, Accra East Legon Office - Lagos Avenue, Accra Spintex Business office Adum Business office Tema Business Office Dansoman Business Office Madina Business Office Abossey Okai Business Office Sokoban Agency, Kumasi
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