Tag: BoG
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PwC asked to clarify jobs termination at UT, Capital banks
Some labour analysts are demanding clarity from Price Waterhouse Coopers (PwC) in the decision to terminate the contract of employees of defunct UT and Capital banks. They argue that the terms indicated in the termination letters served the employees of the two banks may be short of the labour law which protects the interest of…
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Cedi depreciation to hit 4th quarter
The cedi should begin its losing streak against the dollar from next month (October) if nothing is done to stem the situation. This is the caution from currency analysts. Their arguments are premised on the potential rise in the demand for the dollar by importers and vendors ahead of the festive season. Citi Business News’…
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Bank loans to dip over new minimum capital
The rise in the minimum paid up capital for commercial banks will further restrict lending to the private sector at least within the short to medium term. The development should be expected due to the operations of commercial banks which have limited the amount of credit offered businesses. The caution comes on the back of…
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Banks have 1 year to meet new capital
The central bank has given commercial banks in the country up to the end of next year – December 2018, to meet the new minimum capital requirement. The central bank has announced that in accordance with section 28 (1) of the Banks and Specialized Deposit Taking Institutions Act 2016 Act (930) it has revised upwards…
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Mixed reactions greet new BoG minimum capital requirement
Some financial observers have expressed mixed reactions to the Bank of Ghana’s decision to increase the minimum capital requirements for commercial banks. Though they largely subscribe to the need to intensify the regulation of the banking sector, the analysts believe the central bank ought to do more to strengthen Ghana’s financial industry. The concerns come…
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Impact of new minimum capital requirement on banks (Article)
Capital requirement is the minimum amount of capital a bank or other financial institution has to hold as required by its financial regulator. A bank’s capital adequacy ratio on the other hand is expressed as a ratio of equity as a percentage of risk-weighted assets. These requirements are put into place to ensure that these…
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The fate of UT and Capital banks’ shareholders (Article)
The breaking news that shocked the banking system on Monday, 14th August 2017, has left a lot of questions on the minds of many and I ask what happens to the employees and the shareholders of these two collapsed banks? As many in the public are really worried and uncertain about the effects of the…
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BoG rectifies UT and Capital Bank ‘blunder’
Following Citi Business News’ revelation that the defunct Capital and UT Banks are still on the list of banks in Ghana, the Bank of Ghana has amended its list of commercial banks. The two banks have since been assumed by GCB in a purchase and agreement arrangement approved by the Central bank on the 14th…
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UT, Capital banks still on BoG’s banking list
It is emerging that the Bank of Ghana (BoG) is yet to update its list of banks even weeks after it allowed GCB to purchase some assets and liabilities of UT and Capital banks. A visit to the BoG’s website has shown that the two collapsed banks are still on the list of commercial banks…
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Ghana meets IMF to finalize exit
Government is set to meet the board of the International Monetary Fund (IMF) tomorrow to present its decision not to extend the programme. Finance Minister Ken Ofori-Atta in his mid-year budget review indicated that government’s economic team will meet the board in August. Already, President Akufo-Addo has stated that government will not extend the programme…