Tag: Royal Bank
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Gov’t, Finatrade’s GH¢220m debt led to our collapse – Royal bank
The Royal bank is blaming the government for contributing to the bank’s woes and subsequent revocation of its license. The bank believes it would have been avoided in the consolidation had the government paid its 150 million cedis debt to the bank. A report on the Royal bank’s correspondences with the central bank to resolve…
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Banks’ average base rates remain at 25.7%
The interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in November 2017. The same figure was recorded in the month of October 2017. The base rate is the lowest rate at which a bank would lend to its customers. According to the Bank of Ghana’s Annual Percentage Rates (APR)…
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Cost of home loans drop to 30.6 %
The average interest rate on mortgage loans offered by commercial banks has dropped to 30.6 percent as at August 2017. This is down from the 31.2 percent recorded in July 2017. According to the Bank of Ghana (BoG)’s Annual Percentage Rate (APR) and Average Interest (AI) report, the Royal Bank now offers the highest interest…
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Average deposit rate drops; Stanchart still offers lowest rates
The average interest offered by banks on customer deposits has dropped by about 2.5 percent between January and February this year. The figure declined from 11.9 percent as at end of January 2017 to 11.6 percent as at end of February; the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the BoG…