Banking & Finance

Commercial banks defend ‘high’ interest rates

Commercial Banks

Commercial banks in Ghana have defended their high-interest rates even in the face of declining Treasury bills. They argue that T-Bills only account for a slight percentage of the indicators. “Treasury bills alone are not the factor. Banks have a way of computing their cost of funding and there are various parameters that go into that cost of funding, it ...

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Youth love for tech raise banking stake higher – BoG boss


Ghana’s growing youthful population and their penchant for technology has raised the bar higher for banks in the country, Governor of the Central Bank, Dr Ernest Addison has said. “In the comfort of your office or home, one can now transact banking business at the press of a button via a smartphone or laptop. These changes have prompted banks to ...

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Economic data reporting needs enhancement – BoG Governor

Apex Bank

The Governor of the central bank, Dr Ernest Addison, has reiterated the need for government to develop accurate economic data reporting standards that will help in the formulation of policies that will guide the economy in a sustainable manner. Speaking at the opening session of a workshop on government finance statistics on Monday, Dr Addison said statistics is a useful ...

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Struggling banks in merger talks – CDH sure of a deal in August


Some indigenous banks on life support have accepted merger proposals from net worth institutional investors and are now locked down in series of negotiations that could help break the jinx surrounding mergers and acquisitions in the financial sector. The banks involved are about three of the eight indigenous lenders that are currently struggling to meet regulatory requirements on capital. Although ...

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Access Bank rewards over 500 customers

Access Bank Ghana, through its latest mobile banking service, *901#, is rewarding customers who transact and refer others to join the platform. The *901# service, which was launched a few weeks ago, enables customers to conduct basic transactions such as opening a new account, buying airtime, paying bills and transferring money using their mobile devices, without the use of an ...

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T-bill rates hit 5-year low


Rates on short-dated government securities have taken their free fall to another level, hitting a five-year low on June 23, this year. Buoyed by the current stable inflation and foreign exchange rate regime, rates on the benchmark 91-day treasury bill (T-bill) dropped from 25.19 per cent on July 13, 2015, to 22.79 per cent in January, last year, before narrowing ...

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Financial institutions to buy into energy sector bond


Some financial institutions in the country have indicated their readiness to buy into the energy sector bond yet to be released by government later this year. This they believe will aid government get the energy sector back on a strong financial footing. Dr. Bawumia at the spring meetings in Washington in April this year, announced plans to issue a 15 ...

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Dun & Bradstreet holds workshop for insurers in Accra

Dun & Bradstreet (D&B), an international business service company that promotes financial infrastructure and provides credit risk facilities, yesterday held a workshop for insurance providers and financial institutions in Accra. According to Adebowale Atobatele, General Manager for Dun & Bradstreet Credit Bureau Ltd, the workshop is to educate insurers, banks and lenders on how to create value and address challenges ...

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FNB voted as Coolest Bank 2017

First National Bank

FNB was voted first in the category ‘coolest bank’ in the 2017 Sunday Times Generation Next Survey for the sixth year in a row. Held annually, the survey provides marketers with insights and trends on how the South African youth market from all walks of life perceive brands and which products and brands appeal to them most. Winning this award ...

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Ghana Home Loans acquires a universal banking licence

Ghana Home Loans (GHL), the nation’s leading mortgage finance provider, has received all the requisite approvals from the Bank of Ghana to commence operations as a universal bank. The mortgage specialist shall be renamed GHL Bank and will be the foremost bank for wealth creation. Since its launch in 2006, Ghana Home Loans has dominated and transformed the home loans ...

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