Tag: Minimum capital requirement
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SEC to raise minimum capital for operators
The Securities and Exchange Commission (SEC) has told Citi Business News it will by the end of 2017, announce a new minimum capital requirement for capital market operators. According to SEC, the decision is to consolidate operations in the investment market and protect the interest of investors. The move Citi Business News understands also follows…
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Fewer banks to strengthen banking sector
Former Trade Minister, Ekow Spio Garbrah has commended the Bank of Ghana for increasing the minimum capital requirement of commercial banks to 400 million cedis. He argues that this will strengthen Ghana’s banking industry. The Bank of Ghana on September 11, 2017 announced the new minimum capital requirement for banks. The figure has been reviewed…
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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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Banks could meet increased capital requirement – Institute of Bankers
The Chartered Institute of Bankers (CIB) is highly confident of the industry’s ability to meet the proposed increase in the minimum capital requirement for banks. The Institute contends that the changing phase of banking requires huge investments hence an increase should position its members to meet the challenge. Citi Business News has learnt that the…
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Banks to merge over projected GH¢260m capital review – Zenith Bank MD
The Bank of Ghana’s decision to peg the new minimum capital requirement for commercial banks at an estimated 260 million cedis should culminate in mergers and deepen the financial sector. This is the position of the Managing Director of Zenith Bank, Henry Oroh. He explains to Citi Business News banks should also be able to…
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Fidelity Bank is 10; eyes acquisition of ‘smaller’ banks
Indigenous bank, Fidelity, has disclosed plans that it will consider acquiring smaller banks as the Bank of Ghana reviews its minimum capital requirement for commercial banks in the country. According to Fidelity, the decision is largely influenced by the bank’s robust performances over the last decade. “We are growing organically but then if there are…