Category: Banking And Finance
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Banks see strong growth in their asset base in 1st half of 2021
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows steady growth in their total assets. While banks like UBA Bank and OmniBSIC Bank saw their asset base grow by almost 40 percent at the end of the first half of 2021, when…
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ADB leads in profit growth rate as banks remain profitable in 2021
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows promising increases in profits for some and some slowdown in profit growth for others. This can be gleaned from the Summary Statements of Comprehensive Incomes of 13 of Ghana’s top banks covering January…
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Insurance for mobile money agents currently necessary – NIC Boss
Commissioner of Insurance, Dr. Justice Ofori has encouraged mobile money agents to consider getting insurance following the growing incidence of attacks in their line of work. The Mobile Money Agents Association of Ghana has in recent times expressed concern over the incessant robbery attacks on agents, saying their line of business is currently one of…
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Standard Chartered Bank Ghana pays 23% of total income as dividend to shareholders
Standard Chartered Bank Ghana PLC has declared dividend on ordinary shares of GH¢1.74 culminating into GH¢234.4 million. This represents 23 percent of the bank’s total income for 2020. This was announced during its 2020 Annual General Meeting to present the Annual Report and Financial Statements for the year ended 31 December 2020 to their shareholders…
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Ghana.Gov platform to help increase revenue by GHS3 billion – Bawumia
Vice President Dr. Mahamudu Bawumia has indicated that the launch of the comprehensive digital service and revenue collection platform, created to provide a single point of access to Government of Ghana services for the public, will increase government revenue by an estimated GHS3 billion. The Ghana.gov platform is in line with the government’s vision of…
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You won’t lose your funds – BoG assures dormant account owners
The Bank of Ghana has debunked claims making rounds on social media that persons with dormant accounts will lose their funds if the accounts are moved to the Bank of Ghana after a period of inactivity. These claims come on the back of a recent directive issued by the Central Bank on unclaimed balances &…
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FBNBank recommissions Tema branch, reemphasizes focus on customer-centricity
FBNBank Ghana has announced the recommissioning of its Tema branch and the renewal of its focus on Small and Medium Enterprises especially with working capital and trade support in addition to strengthening its commitment to customers and clients. The Bank over the past few months has undertaken a complete remodelling of the Tema branch leading…
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Piloting of digital currency in Ghana to begin in September 2021 – BoG
Ghana is set to commence the piloting of its electronic currency by September this year. This was disclosed by the First Deputy Governor of the Bank of Ghana, Maxwell Opoku-Afari. According to him, the introduction of the Central Bank’s Digital Currency (CBDC) is crucial as the pandemic has quickened the drive towards a cash-lite economy…
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DBG must be able to retrieve loans it’ll give out to survive – Kwame Pianim
A renowned economist and investment analyst, Kwame Pianim, says the yet-to-established Development Bank Ghana must work to prevent collapse by putting in place measures to be able to recoup monies borrowed to customers. Sharing his opinion on the establishment of the bank, Mr. Pianim, opined that the bank must put in mechanisms that will allow…
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We’re hoping for survival of Ghana’s new Development Bank – AGI
President of the Association of Ghana Industries (AGI), Dr Yaw Adu Gyamfi has expressed confidence in the sustainability of Ghana’s development bank. According to him, the development bank will serve as a panacea for addressing long term financing challenges experienced by local industries. The Government of Ghana in partnership with the European Investment Bank, and…