Category: Banking And Finance
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How your bank charges you for processing your salary
As at the end of December last year some banks in the country charged no fee for some major services, while other services attracted substantial fees. Getting your personal salary processed in some banks in the country would have cost you as high as GHC 24 cedis, while others would have charged you nothing as…
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Only ten percent of Unibank’s debts were recoverable – KPMG report
It has emerged that over ninety percent [90%] of defunct Unibank’s loan books was non-performing as at March 2018. According to the Official Administrator’s report, Unibank had 3.4 of the 3.73 billion cedis, non performing; a development which affected the performance of the bank. The Official Administrators, KPMG were made to assume the management of…
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Anthony Jordan retires as MD of Republic Bank Ghana; new leader appointed
Mr. Anthony Jordan currently Managing Director of Republic Bank (Ghana) Ltd will retire from the Bank on April 17, 2019, after a distinguished career spanning over thirty-five (35) years of service. He started work in Ghana in 2015, coming from Trinidad and Tobago. Mr. Farid Antar, has been appointed Managing Director of Republic Bank (Ghana)…
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Stanchart urges investors to focus on bonds in 2019
Standard Chartered Bank Ghana as part of its outlook for 2019 has urged investors to focus largely on bonds to reap the best returns. Engaging the media on the Bank’s 2019 Global Outlook and its Wealth Offerings in Accra, Head of Wealth Management at the Standard Chartered Bank, Setor Quashigah called for prudent investment which…
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GCB Bank adjudged the best bank in CSR
GCB Bank has been adjudged the best Bank in Corporate Social Responsibility (CSR) activities for the year 2018. According to a research conducted by the Centre for Media Analysis (CMA), a private and independent media and communication research agency, GCB’s CSR projects targeted and made positive impact on the life of people, communities and the…
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SG Ghana targets 7 percent banking market share in short term
After meeting the minimum capital requirement of 400 million cedis, the Managing Director of Societe Generale(SG), Ghana Hakim Ouzzani has told Citi Business News the bank is aiming to increase its market share to 7 percent. This he says will enable the bank expand its operations in the Small and Medium Enterprise sector. Speaking to…
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NIC developing new system to check car insurance electronically
The National Insurance Commission (NIC) has indicated that it is developing a database that will allow motorists check the authenticity of insurance stickers instantly. This, according to the Commission, is to rid the system off fake insurance stickers which the organization says has become common on the market. “It is a system that the commission…
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GAT will strengthen local banks to compete—Prof. Bopkin
Economist, Professor Godfred Bokpin is confident the support from the Ghana Amalgamated Trust(GAT) for some five (5) undercapitalized banks in the country will boost local content in the banking sector. Government is expected to issue a 403 million dollar bond this month to support solvent and well governed indigenous banks under the Ghana Amalgamated Trust. While some stakeholders…
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UMB announces departure of CEO
After four years of dedicated and growth oriented service to the Bank, the Board of UMB announce the departure of their CEO, Mr. John Awuah. John Awuah joined UMB and has over the years initiated and championed successful strategies with the private sector as well as partnered the public sector on initiatives for the development…
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Govt to issue US$403m bond for 5 undercapitalized banks
Government will issue a 403 million dollar bond this month to finance the five undercapitalized banks under the Ghana Amalgamated Trust (GAT), a report by Bloomberg has indicated. Government through the Ministry of Finance created the Ghana Amalgamated Trust, as special purpose vehicle to help five banks which were undercapitalized to meet the 400 million cedis…