Tag: Association of Rural Banks
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BoG posts GH¢60.81bn losses in 2022
The Bank of Ghana has posted losses totalling GH¢60.81 billion for the 2022 financial year. This compares to a profit of GH¢1.23 billion recorded in the 2021 financial year. The losses were a result of the government’s domestic debt restructuring activities, and the depreciation of the local currency, among others. The BoG’s audited financial statement…
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Government urged to review Rural Banks’ corporate tax rate
The Association of Rural Banks (ARB) has appealed to the government to review downwards the corporate tax rate of Rural and Community Banks (RCBs). Mr Kwame Owusu Sekyere, Acting National President of the Association, who made the appeal, said this would help strengthen the capacities of rural and community banks to live up to the…
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Rural banks to re-engage BoG on directive to suspend dividend payment to shareholders
President of the Association of Rural Banks (ARBs), Daniel Ohene Kwaku Owusu, has said his outfit will re-engage the Central Bank on its directive to banks and other Specialized Deposit-Taking Institutions (SDIs) to suspend the payment of dividends to their shareholders. He indicated that though the Bank of Ghana’s directive was with good intentions, the…