Tag: Consolidated Bank Ghana
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CBG to announce modalities for cash and bond payments to depositors of defunct S&Ls, Microfinance firms
Consolidated Bank Ghana, CBG, has announced to the general public that it will publish the full modalities for payment of cash and bonds on behalf of the Receiver for all depositors of defunct microfinance and savings and loans companies. According to the bank, it has established a mechanism for those depositors who wish to obtain…
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Association of Savings & Loans firms satisfied with payment of locked up funds so far
The Ghana Association of Savings and Loans Companies has expressed satisfaction with the process to ensure that all customers of defunct savings and loans companies are paid their locked-up deposits in full. The Receiver last week Monday started paying out customers their locked-up funds from a GHS5 billion made available by the government as part…
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Locked up funds: More than 13,000 microfinance, S&L customers paid – CBG
The Consolidated Bank, Ghana, says the process to pay customers of defunct microfinance companies, savings and loans companies and finance houses has been smooth. According to the bank, as of Friday, February 28, 2020, over 13,000 customers had been paid fully. The bank added that the number of customers paid includes 490 companies, 581 social…
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Defunct Microfinance, S&L customers with huge sums unhappy with payment in bonds
Some customers of the defunct microfinance and savings & loans companies, who visited the head office of the Consolidated Bank Ghana on Thursday, February 27, to retrieve their locked up capital, have decried the mode of payment by the Receiver. The customers, who received their notification messages, say they have been told by the bank…
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Receiver to pay all customers of defunct Microfinance, S&Ls firms by March ending
The receiver of the collapsed microfinance companies, savings and loans, and finance houses, has assured that all affected depositors will receive their locked up investments by end of March this year, after payment processes started on Monday, February 24, 2020. The deadline follows a promise by President Akufo-Addo during the State of the Nation Address…
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Financial sector clean-up: Micro finance, S&Ls customers to access deposits from today
Customers of the collapsed microfinance, savings and loans and finance houses will from today, Monday February 24, begin to access their full locked-up funds, the receiver Eric Nana Nipah has confirmed to Citi Business News. The customers of the 347 microfinance companies, 23 savings and loans and finance houses, as well as 39 micro-credit institutions…
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We’ve built the foundation for a world-class bank — CBG MD
The Managing Director of Consolidated Bank Ghana (CBG), Daniel Wilson Addo, has said the Bank has laid a foundation for a world-class bank to become e a monument for all time. CBG was formed to take over the operations of five banks whose licenses were withdrawn because they faced insolvency challenges. A statement issued after…
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Consolidated Bank set to migrate its systems onto a single platform
Consolidated Bank Ghana (CBG), has created a single banking application platform, to enable it deliver homogenous services to customers across all its branches. CBG inherited different versions of the core banking application and a myriad of supporting applications and interfaces from the banks whose operations it assumed. To enable it deliver customer service the bank…
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Consolidated Bank unveils new tagline ahead of first anniversary
Consolidated Bank Ghana (CBG) has launched a tag line “We stand with you” to reaffirm the bank’s commitment towards satisfying the needs of their customers. The launch of the tag line comes a year since the bank was formed by the government to manage the assets of some five collapsed banks. The tag line also…
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Consolidated Bank parts ways with over 2,000 workers of collapsed banks
The Consolidated Bank Ghana has said that it has had to lay off more than 2,000 workers of the collapsed Beige Bank, Royal Bank, Sovereign Bank, Construction Bank and Unibank Ghana Limited. The affected workers included both permanent and temporary staff. The workers reportedly lost their jobs after a reemployment exercise carried out by the…