First Atlantic Bank has stated that it will meet the new minimum capital requirement set by the Bank of Ghana before deadline date in December 2018.
This follows the upward revision of the minimum capital requirement for banks from the current 120 million cedis to 400 million cedis.
The banks have up until December 2018 to recapitalize.
Speaking to Citi Business News, the Board Chairman of First Atlantic Bank, Karen Akiwumi revealed the bank will meet the requirement.
He made the assertion at the commissioning of the bank’s thirtieth branch in Osu, Accra.
“I will take this opportunity to reassure you that our bank, First Atlantic Bank is well advanced in its plan to raise even more capital and reassure you that we are here to stay”.
“Our strategic recapitalization roadmap which will yield the needed results we believe well before the December 2018 deadline set by the Bank of Ghana”.
The bank is set to open its thirty first branch in Tamale, in the Northern region.
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By: Anita Arthur/citibusinessnews.com/Ghana
