Tag: KPMG
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Receiver for Consolidated Bank gives debtors June 14 deadline to settle liabilities
The Receiver for the five banks merged into the Consolidated Bank, Nii Amanor Dodoo has given individuals and businesses who are defaulting in loans to the affected banks to redeem their liabilities or risk publication of their names in the national dailies. The caution was given in a statement published in the Daily Graphic reminding…
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Only ten percent of Unibank’s debts were recoverable – KPMG report
It has emerged that over ninety percent [90%] of defunct Unibank’s loan books was non-performing as at March 2018. According to the Official Administrator’s report, Unibank had 3.4 of the 3.73 billion cedis, non performing; a development which affected the performance of the bank. The Official Administrators, KPMG were made to assume the management of…
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Labour unions, KPMG determine exit pay for Consolidated bank staff
The Ministry of Employment and Labour relations together with the Bank of Ghana, the receiver for the Consolidated bank as well as representatives of labour unions have met over the issues affecting the staff of the Consolidated bank. This is also to reduce any apprehension among the remaining staff. Present at the meeting were officials…
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Receiver sues uniBank shareholders for GHC5.7 billion
The Receiver for uniBank, Nii Amanor Dodoo has sued the 17 shareholders of the now-defunct bank over the repayment of a GHC 5.7 billion debt. The GHC 5.7 billion debt, according to the receiver, was left by the shareholders. The plaintiff, Nii Amanor Dodoo, contends that the defendants “have breached their duties as directors of uniBank…
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KPMG exonerates itself from Unibank, Royal bank awards
Auditing firm, KPMG has dismissed media reports suggesting that it has a role to play in the 2017 Banking awards in which some of the five collapsed local banks were rewarded. The comment also follows the appointment of KPMG to assist the Bank of Ghana as a receiver of the collapsed banks. According to KPMG,…
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Top management staff still at post at Unibank
All top executives but the CEO of Unibank, are still at post at the bank despite the presence of new managers from auditing firm, KPMG. Dr. Kwabena Duffour Junior has been made to step aside as the new managers say his continuous existence creates a duplication of roles with the Head of the new management team.…
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KPMG denies dismissals at Unibank
Managers of Unibank, KPMG, have dismissed media reports that they have terminated the appointment of some contract workers of the bank following an assessment of the bank’s operations. About five hundred workers of the bank are reported to have their employment contracts terminated as their roles were no longer needed. The report suggested that the…
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Unibank takeover: Analyst urges audit of banks’ risks to loan default
Some economists are advocating an immediate audit into the risks faced by commercial banks in retrieving loans given to their customers to avert a collapse of the financial industry. The suggestions follow the Bank of Ghana’s decision to allow KPMG takeover the management of uniBank over their low capital levels. It is unclear what sanctions…
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BoG takes over management of uniBank
The Bank of Ghana has announced that it has appointed audit firm, KPMG as administrator for uniBank. This means that the central bank has taken over the assets and management of uniBank. The Governor of the Bank of Ghana, Dr. Ernest Addison says uniBank is currently insolvent. Addressing a press conference in Accra, Dr. Ernest…