- The mayor of Illinois announced a $20 million deposit into the bank's operations
- The Nduoms are the largest shareholders of the bank
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Ghanaian entrepreneur, Dr. Paa Kwesi Nduom received wonderful news recently when the City of Chicago, Illinois, USA, announced a deposit of $20 million into the operations of the Illinois Federal Service Bank (ISF Bank).
The Nduoms are majority shareholders of the bank.
The funds are to be directed at boosting economic development in Chicago City, as well as the immediate environs.
Chicago City Treasurer, Kurt Summers indicated that the city is focused on creating opportunities so as to encourage the involvement of people in community development.
The bank, the only black-owned financial institution in Chicago is involved in the business of providing credit facilities to clients.
The bank is also focused on expanding its long-term goal of profitability and credibility in its area of operations.
The Chairman of ISF Bank, Dr. Papa Kwesi Nduom, expressed hope that the deposit would go a long way to bolster the operations of the bank.
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