Tag: Barclays Bank
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Barclays Ghana Managing Director optimistic about outlook of economy
The slowdown in inflation in the last month of 2019 and the relative stability of the local currency in the first month of 2020, gives the Monetary Policy Committee of the Bank of Ghana room to reduce its interest rate, the Managing Director of Barclays Ghana, Abena Osei-Poku has said. The policy rate, which indicates…
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Major boost for local rice millers as banks provide funds to clear harvest
The Ghana Rice Millers Association says it is ready to meet the market demand for Ghana rice this festive season. The assurance comes after the association secured a deal with some banks to provide funds for the millers at an affordable rate. The banks include GCB Bank, National Investment Bank, Barclays and ADB Bank. Members…
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Local suppliers in petroleum upstream sector cry over high cost of credit
Local suppliers in the Petroleum Upstream sector are asking commercial banks to review downwards the cost of credit. The companies complain most of the banks charge relatively higher rates on loan packages which affect their returns. The local suppliers in the Petroleum Upstream sector are businesses that provide various services to major oil companies that…
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BoG fines Barclays Bank GHS4.6m over forex regulations breach
The central bank has announced that it has fined Barclays Bank Ghana an amount of GH¢4.6 million for making “frivolous” quotes on Ghana’s Interbank Foreign Exchange Market. A press release issued by the Bank of Ghana said Barclays’ action is in breach of the Ghana Interbank Forex Market Conduct Rules. “The Bank of Ghana is…
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Over a dozen banks yet to meet GH¢400m minimum capital
At least fifteen (15) banks are yet to announce their position on meeting the new minimum capital requirement with four months to the deadline. This is because Citi Business News’ analysis has shown that six (6) banks have reached the target with seven (7) others undertaking various measures to recapitalize. The six banks include; the…
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Barclays bank meets GH¢400m minimum capital
Barclays Bank Ghana Limited has stated that it has met the 400 million cedis minimum capital requirement. The Board Chairman of Barclays Bank Ghana, Charles Cofie disclosed this in a statement on Absa Group’s first half results for this year [2018]. According to him, Barclays was among the first banks to meet the target without…
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Patience Akyianu joins Hollard as Group CEO
The Outgoing Managing Director of Barclays Bank, Patience Akyianu has been appointed as the Group Chief Executive of Hollard Ghana Holdings Limited. Her appointment is expected to take effect in October this year – 2018. Madam Akyianu joins Hollard after resigning from Barclays Bank in early May. A statement from Hollard Ghana Holdings to Citi…
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Barclays bank shareholders approve name change to ABSA
Shareholders of Barclays Africa Group Limited have approved that the bank changes its name to Absa Group. Today’s approval is expected to set in motion, the start of one of the largest re-brand projects in Africa. A statement from Barclays Bank to Citi Business News on the matter said that the name change is expected…
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Patience Akyianu resigns as MD of Barclays bank
Managing Director of Barclays Bank, Patience Akyianu has resigned. She is however expected to remain as the MD until September 30, 2018. The decision for Mrs Akyianu to move on, comes after spending a decade with Barclays bank. A statement from the bank confirming the decision said, ‘after five years of leading Barclays Bank Ghana…
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Govt’s $ 2.25bn bonds will not crowd out private sector
One of three book runners for Government of Ghana’s four bonds issued recently, totaling 2.25 billion dollars has downplayed fears that the success of the bonds auction will have a negative impact on credit for the private sector. Government on Monday (April 3, 2017) announced it was successful in the auction of a total of…