Category: Banking And Finance
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Private sector contributes 97% of banks’ NPLs in 2019 first quarter
The first quarter banking sector report published by the Bank of Ghana has shown that the private sector accounted for 96.9% of the total Non-Performing Loans (NPLs) within the industry. By this, the share of loans gone bad within the banking sector not attributable to the private sector represented 3.1%. According to the banking sector…
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Banks’ paid-up capital shows 74.8% increase after BoG reforms
Data from the Bank of Ghana has shown strong growth in bank’s total paid-up capital — rising to GHS9 billion as at end of February 2019. The March 2019 Banking Sector Report revealed that last year’s increase in minimum capital requirement saw an increase in banks’ paid-up capital from GHS5.05 billion as at February 2018…
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Standard Chartered Africa and Middle East Regional Head of HR, Learning & Talent holds mentoring session for young women
The Regional Head of HR, Talent and Learning for Africa and Middle East (AME) at Standard Chartered, Mrs. Millicent Clarke, has held an interactive mentoring session with some young women from Mentoring Women Ghana, talking through what it takes to transition from graduation to being an effective leader in the workplace, as part of the…
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Digitization of state agencies improving revenue collection—Dr. Bawumia
The Vice President Dr. Mahamudu Bawumia has announced that the digital initiatives undertaken by the government is beginning to yield results. Dr. Bawumia disclosed that some state institutions that were migrated to digital platforms are recording improvements in revenue collection. The Ports, Lands Commission, Ministry of Tourism and the Passport Office are a few state…
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Receiver for Consolidated Bank gives debtors June 14 deadline to settle liabilities
The Receiver for the five banks merged into the Consolidated Bank, Nii Amanor Dodoo has given individuals and businesses who are defaulting in loans to the affected banks to redeem their liabilities or risk publication of their names in the national dailies. The caution was given in a statement published in the Daily Graphic reminding…
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Impact of financial sector reforms will be felt long-term — BoG
Head of Banking Supervision at the Bank of Ghana, Osei Gyasi has said the recent banking sector reforms should impact positively on the macroeconomy largely through the reduction in interest rates and a decline in non-performing loans among others. While delivering a presentation at the first in a series of round table discussion with the…
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Support Bank of Ghana to clean financial sector — CAL Bank MD
The Managing Director of CAL Bank Limited, Frank Adu Jnr, has urged stakeholders in the financial sector to support the Bank of Ghana as it cleans the sector. The Bank of Ghana, last week sent out a notice, strongly indicating that it will punish persons, companies or institutions dealing in the foreign exchange business without…
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Access Bank crowned Bank of Year at Women’s Choice Awards
Access Bank Ghana has emerged “Bank of the Year” at the maiden edition of the Women’s Choice Award Africa, held at the Swiss Spirit Alisa Hotel, Accra on Saturday, May 4, beating competition from Stanbic Bank, UBA, Ecobank, Societe Generale and the Women’s World Bank Ghana. The Bank of the Year award is in recognition…
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CBG opens two new branches in Ashanti region
The Consolidated Bank Ghana Limited (CBG) has opened two branches in Kumasi, the Ashanti regional capital. The two branches, located at Asafo and Alabar, bring to 22 the number of branches in the region and forms part of the Bank’s strategic plans to make it widely accessible nationwide. Ahead of the opening, members of the…
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Managing Director of CAL Bank to leave post by the end of 2019
The Managing Director of Cal Bank Limited Frank Adu Jnr, is confident his successor after he exits the bank by the end of this year, will be well equipped to succeed. Frank Adu Jnr, who was appointed Managing Director of the bank in the year 2000, has over 28 years of experience in the banking…