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Tag Archives: BoG

Zenith Bank opens arms to acquisition

Zenith Bank MD, Henry Oroh

Zenith Bank has indicated its readiness to absorb another bank to grow its base and improve its portfolio. It follows the dramatic increase in the minimum paid up capital for commercial banks. The Managing Director of Zenith Bank, Henry Oroh who admits that mergers and acquisitions may not be inevitable however says any such decision will be dependent on the ...

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Inflation hits 12.3% in August

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Ghana’s inflation reached 12.3 percent in August 2017. This represents a negative 0.2 percent change in the inflation rate between July and August 2017. The inflation for July 2017 stood at 11.9 percent. Inflation measures the average rise in the prices of all consumer goods and services in the country. The inflation rate for August 2017 is the second time ...

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PwC asked to clarify jobs termination at UT, Capital banks

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Some labour analysts are demanding clarity from Price Waterhouse Coopers (PwC) in the decision to terminate the contract of employees of defunct UT and Capital banks. They argue that the terms indicated in the termination letters served the employees of the two banks may be short of the labour law which protects the interest of employees in cases of insolvency. ...

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Cedi depreciation to hit 4th quarter

Ghana Cedi

The cedi should begin its losing streak against the dollar from next month (October) if nothing is done to stem the situation. This is the caution from currency analysts. Their arguments are premised on the potential rise in the demand for the dollar by importers and vendors ahead of the festive season. Citi Business News’ checks from the Bank of ...

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Bank loans to dip over new minimum capital

bog microfinance

The rise in the minimum paid up capital for commercial banks will further restrict lending to the private sector at least within the short to medium term. The development should be expected due to the operations of commercial banks which have limited the amount of credit offered businesses. The caution comes on the back of the increase in banks’ minimum ...

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Banks have 1 year to meet new capital

Governor of Bank of Ghana Dr. Ernest Addison

The central bank has given commercial banks in the country up to the end of next year – December 2018, to meet the new minimum capital requirement. The central bank has announced that in accordance with section 28 (1)  of the Banks and Specialized Deposit Taking Institutions Act 2016 Act (930) it has revised upwards the minimum paid up capital ...

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Mixed reactions greet new BoG minimum capital requirement

bog microfinance

Some financial observers have expressed mixed reactions to the Bank of Ghana’s decision to increase the minimum capital requirements for commercial banks. Though they largely subscribe to the need to intensify the regulation of the banking sector, the analysts believe the central bank ought to do more to strengthen Ghana’s financial industry. The concerns come days after it emerged that ...

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Impact of new minimum capital requirement on banks (Article)

Dr. Ernest Addison, Governor of the Bank of Ghana

Capital requirement is the minimum amount of capital a bank or other financial institution has to hold as required by its financial regulator. A bank’s capital adequacy ratio on the other hand is expressed as a ratio of equity as a percentage of risk-weighted assets. These requirements are put into place to ensure that these institutions do not take on ...

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The fate of UT and Capital banks’ shareholders (Article)

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The breaking news that shocked the banking system on Monday, 14th August 2017, has left a lot of questions on the minds of many and I ask what happens to the employees and the shareholders of these two collapsed banks? As many in the public are really worried and uncertain about the effects of the collapse of UT and Capital ...

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BoG rectifies UT and Capital Bank ‘blunder’

bog microfinance

Following Citi Business News’ revelation that the defunct Capital and UT Banks are still on the list of banks in Ghana, the Bank of Ghana has amended its list of commercial banks. The two banks have since been assumed by GCB in a purchase and agreement arrangement approved by the Central bank on the 14th of August, 2017. But a ...

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