The management of Consolidated Bank Ghana Limited (CBG) has disclosed that the Bank is capitalized in excess of the 400 million cedis capital requirement announced by the Bank of Ghana.
The bank which was formed by the central bank after the revocation of licenses of five banks also announced that it has opened for operations. There five banks were Beige Bank, Construction Bank, Sovereign bank, Unibank, and Royal Bank
“Consolidated Bank Ghana Limited is a fully indigenous bank that is 100% owned by the Government of Ghana and is well capitalized in excess of the new capital requirements of the Bank of Ghana”.
“The emerging entity has a stated capital of GHS450 million, a branch network of 175, with presence in nine (9) regions of Ghana and we assure you that, we would strive to build a strong, dynamic and innovative organization which would cater to the banking needs of the Ghanaian Public,”a statement from the bank assured.
According to the statement, CBG is starting work on a strong footing and intend to use size as well as the knowledge and vast experience of management and staff to support large and small businesses across the country, play a part in ensuring a stable ﬁnancial sector and ﬁnally support the industrialization and economic transformation agenda of the Government.
It added that there would be absolutely no loss of customer deposits as the bank is able to meet all requirements through various branches and channels.
“However, as a new Bank created out of several legacy institutions, there would of necessity, be a period of stabilization required to synchronize our operations across all our channels, the scope of which would be quite broad and cover every facet of our operations especially with regards to our staff, products, channels and technology”.
“It is our intention to make this as short as possible without disrupting or diluting our commitment to providing outstanding services to all our stakeholders. We would however require your continued support and understanding during this period, knowing fully well that we are irrevocably committed to building an institution that would stand the test of time and become one of the leading beacons of the Ghanaian nation,” the statement stressed.
By: Lawrence Segbefia/citibusinessnews.com/Ghana