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Tag Archives: BoG

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 BoG, 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)

Capital-Bank- RIP600x330

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’

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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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UT, Capital banks still on BoG’s banking list

ut capital

It is emerging that the Bank of Ghana (BoG) is yet to update its list of banks even weeks after it allowed GCB to purchase some assets and liabilities of UT and Capital banks. A visit to the BoG’s website has shown that the two collapsed banks are still on the list of commercial banks in Ghana whose Bank Identifier ...

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Ghana meets IMF to finalize exit

Finance Minister, Ken Ofori Atta with Chief of the IMF Mission on the Article IV consultations, Analisa Fedelino(file photo)

Government is set to meet the board of the International Monetary Fund (IMF) tomorrow to present its decision not to extend the programme. Finance Minister Ken Ofori-Atta in his mid-year budget review indicated that government’s economic team will meet the board in August. Already, President Akufo-Addo has stated that government will not extend the programme when it ends in December ...

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Banks reduce mortgage loans over high NPLs – BoG

bog microfinance

Banks have begun tightening their stance on mortgages due to the rise in their Non-Performing Loans (NPLs). At least according to the Bank of Ghana’s latest banking sector report, the commercial banks decreased their loans for house purchases by some two percentage points from 8 to 5 percent as at June this year. The position by the commercial banks according ...

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Banks’ tight loans stance reduces profits by 40% – BoG report

Governor of BoG, Dr. Ernest Addison

Commercial banks’ decision to reduce their levels of loans and advances to businesses have rather affected their profitability. As a result of this position, the profits of commercial banks had dropped by 40 percent as at June 2017. Figures from the Bank of Ghana on the banking sector indicate that the profits of commercial banks went down from 2.55 to ...

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