Banking & Finance

Don’t issue Eurobond- Dr. Eric Osei-Assibey cautioned government

bond

As the 2007 Eurobond matures this year, government has been advised not to issue any international bonds this year to help reduce Ghana’s debt stock. The 10-year 750 million dollar bond, which was issued in 2007 at a cost of 8.5 percent, opened the way for Ghanaian to issue subsequent bonds, ballooning the country’s debt stock. Before leaving office, former ...

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Average interest on agric loans is 33.2 percent – BoG report

Gender equality in Agriculture

Average interest rate on agricultural loans by banks has increased marginally to 33.2 percent as at the end of February this year, the Bank of Ghana’s Annual Percentage Rate and Average Interest report has shown. The report also shows that First Atlantic Bank offers the highest Agric loans at 41.2 percent. But Standard Chartered Bank offers the lowest rate of ...

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Customer deposit rate for Banks drops

customer deposits

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 have shown. According to the ...

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Ghana Soon to be hit by a banking crisis

banking crisis

There is a looming banking crisis in Ghana, unless the government and central bank take the right steps and decisions, following economic decline by the end of 2016. The rating agency, Moody’s issued a report in February 2017, indicating that Ghana banks in addition to the problems of non-performing loans are facing high asset risks. Moody’s pointed out that the ...

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Banks require GH¢1bn stated capital – Experts

Bank of Ghana

Group CEO of CDH Financial Holdings, Emmanuel Adu-Sarkodie, has joined calls for a significant increase in the stated minimum capital for banks to about GH¢1billion, in order to support aggressive economic growth. Kenneth Thompson, Managing Director of Dalex Finance, has been making a similar argument, saying for banks in the country to adequately support infrastructure growth and act as the ...

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Your deposits are safe – GN Bank assures customers

gn bank

Many customers expressed worry after news broke that the bank’s website had been hacked. The GN Bank has allayed the fears of its clients over news that the website of the bank had been hacked. In a statement issued by the bank, it stated that clients do not have to withdraw their savings or close their accounts entirely because the ...

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What to know about the New GHS 5 note

GHS 5

The GHS 5 commemorative note is issued by Bank of Ghana to mark the 60th anniversary of the establishment of Bank of Ghana. The theme for the celebration is “Celebrating 60 years of Central Banking in Ghana (1957 – 2017) The design of the GHS5 commemorative note draws inspiration from significant milestones and achievements in Ghana‟s socio-political history by one ...

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Standard chartered, Bank of Baroda offer best interest rate- BoG

interest rate

Bank of Baroda and Standard Chartered Bank are the best place to secure credit when it comes to favourable interest rate. That’s according to Bank of Ghana (BoG)’s Annual Percent Rates (APR) and Average Interest (AI) paid on deposit report ending January 31 report. Businesses in manufacturing, agriculture, commerce and construction that turned to Bank of Baroda, actually paid an ...

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Crystal Capital to launch mutual fund

crystal capital

Crystal Capital and Investments Limited (CCI), an investment banking firm, has announced the launch of two new mutual funds. The two funds: “Crystal Entrepreneur Fund (EFund) and Crystal Wealth Fund (W-Fund)” would be officially launched at an Initial Public Offering (IPO) in Accra. A statement signed by Mr Martin Ofori, the Chief Executive Officer of Crystal Capital and copied to ...

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