Tag: Minimum capital requirement
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Compliance level for banks’ recapitalisation risky – Economist
Economist, Dr. Lord Mensah has described as quite disappointing, the number of banks that are yet to meet the minimum capital requirement. According to him, the development shows how most of the banks are struggling to meet the deadline by end of year [2018]. “It is quite disappointing because banking operations is basically sourcing for…
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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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16 banks left to their fate over minimum capital
The sixteen (16) banks yet to meet the minimum capital requirement will have to expedite processes to tap into available options before the December 31 deadline hits them in the face. That is the advice from Banking Consultant, Nana Otuo Acheampong. He explains that since such major decisions will require time, it will be appropriate…
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15 banks set to meet GH¢400m minimum capital – BoG
Fifteen banks are to meet the new minimum capital requirement by December this year. This is the information available to Citi Business News from the Bank of Ghana. This means that at least nineteen (19) banks will have to resort to various options available to them to meet the minimum capital by the set deadline.…
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BoG sets ground rules for mergers & acquisitions
Banks seeking to acquire other banks or merging to become a bigger entity may start heaving a sigh of relief as the Bank of Ghana discloses guidelines to facilitate any such process. The move also forms part of the means by the commercial banks to meet the new minimum capital requirement by the Bank of…
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GCB Bank falls on income surplus for minimum capital
GCB Bank is to move 400 million cedis from its income surplus to help it meet the new minimum capital requirement set by the Bank of Ghana. As a result, the bank should achieve capital of 500 million cedis. Commercial banks have till December 2018 to meet the minimum capital requirement of 400 million cedis.…
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BEIGE Bank nears GH¢400m minimum capital
The BEIGE Bank has announced that it will be able to meet the new minimum capital requirement for banks before the December 2018 deadline. The bank, in a statement to Citi Business News said that its current financial position shows that it is about 100 million cedis shy of the 400 million cedis minimum capital.…
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Minimum capital: BoG issues guidelines on mergers & acquisitions
The Bank of Ghana has disclosed that it is working on guidelines for potential mergers and acquisitions that may emerge following the recapitalization of banks in the country. The central bank explains that this also forms part of a series of new reforms aimed at building a strong financial sector. Commercial banks are expected to…
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Zenith Bank hits GH¢400m capital requirement
Zenith Bank has attributed its strong capital base to what it refers to as the implementation of effective corporate governance strategies. The bank says, such plans have also made it easy to reduce the levels of non-performing loans and its impact on the books of the banks. Commercial banks have till December this year (2018)…
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President meets local banks over extension of recapitalization date
Citi Business News understands that the President, Nana Addo Dankwa Akufo Addo, has met some Managing Directors and Chief Executive Officers of local banks in the country to discuss the request for an extension in the deadline date of the minimum capital requirement for indigenous banks. The local banks are appealing for an extension of…