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Is your bank safe? List of banks that have met BoG’s requirement

Sources have confirmed that the Bank of Ghana will release a list of all banks that have successfully met its GH₵400 million capital requirement as designated by the central bank earlier last year. Following the December 31, 2018 deadline, Graphic Online has formulated a list with predictions of the banks that have and have not met the requirement.

One of the banks that was unable to meet the requirement has a capital deficit in excess of GH₵800 million, the report reads.

 One bank will be downgraded to a saving and loans company for failure to recapitalise before the December 31, 2018 deadline, the report adds.

Furthermore, BoG will use provisions set out in Sections 103 to 137 of the Banks and Specialised Deposits Taking Institutions Act 2016 (Act 930), the report says.

 Joy Business is working to confirm the report.

Below is the list:

List of successfully recapitalised banks

Access Bank Ghana Limited

Barclays Bank Ghana Limited

CAL Bank Limited

Consolidated Bank

Ecobank Ghana Limited

FBNBank Ghana Limited

Fidelity Bank Limited

First National Bank Ghana Limited (FNB)

Republic Bank Ghana Limited

GCB Bank Limited

Guaranty Trust Bank Ghana Limited (GTBank)

Society Generale Ghana Limited

Stanbic Bank Ghana Limited

Standard Chartered Bank Ghana

United Bank for Africa Ghana Limited (UBA)

Zenith Bank Ghana Limited

Not recapitalised but being supported

ADB Bank

National Investment Bank (NIB)

Prudential Bank

Universal Merchant Bank Limited (UMB)

Heritage Bank Limited

OmniBank Limited

Ongoing mergers

Energy Commercial Bank Ghana Limited and First Atlantic Bank Limited

OmniBank and Sahel Sahara Bank

Ongoing takeovers

First National Bank Ghana Limited (FNB) takes over GHL Bank

Voluntary liquidation

Bank of Baroda (customers absorbed seamlessly by Stanbic Bank Ghana Limited)

Not recapitalised but no credible news yet

Bank of Africa Ghana (BoA) Limited

GN Bank Limited

Premium Bank Limited

 

Source: Ghana | Myjoyonline.com | Zaina Adamu | Twitter: @ZainaAdamu

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