The Chartered Institute of Bankers, Ghana (CIB), has advised the Bank of Ghana (BoG) not to announce a uniform capital requirement for the banking sector but create a tier system that can cater to the needs of the various banks. The CIB said in order to ensure that the gains...
The Bank of Ghana (BoG) has begun mounting pressure on banks in the country to start reducing their interest rates in the face of the declining policy rate and the Treasury bill rates. The central bank in May reduced the policy rate from 23.5 percent to 22.5 percent. This was after...
The government has appointed Fidelity Bank and Standard Chartered Bank as joint lead Managers for the issuance of an Energy Sector Levy Act (ESLA) backed Bond to the tune of about GH¢10 billion. The amount is the total estimated legacy debt within the energy sector. The two banks were selected...
Interest rates of banks have seen marginal declines between April and May 2017. An assessment of the average interests charged by the commercial banks on loans and advances shows that the banks have generally reduced their interest rates. The interest rates on loans and advances have declined between 0.3 and 1.8...
The Managing Director of the Ghana Stock Exchange(GSE), Kofi Yamoah has disclosed that the bourse is showing positive performances in the first half of the year. This comes at the back of a negative performance in the past two years as listed companies posted negative results due to high inflation,...
The banking industry’s stock of Non-Performing Loans (NPLs), increased by 24.5 percent between April 2016 and April 2017, the Bank of Ghana’s latest banking sector report has shown. The industry’s NPL went up from 5.74 billion cedis in April 2016 to 7.15 billion cedis in April 2017. According to the report,...
The Chief Executive Officer of the Ghana Stock Exchange Kofi Yamoah has urged President Akufo-Addo to constitute a board of directors for the Securities and Exchange Commission(SEC). His plea follows an earlier request from a former Director-General of the commission, Dr Adu Anane-Antwi, who also appealed to the president to...
The HFC Unit Trust and Real Estate Investment Trust (REIT) Funds, both recorded marginal gains at the close of December 2016. This was due to the active re-balancing strategy measures put in place by the fund managers to cushion them against the negative macroeconomic indicators. Mr Peter Larbi-Yeboa, the Fund Managers...
Standard Chartered Bank Ghana Limited says it will transfer GHȼ60 million from its retained earnings to its Stated Capital in compliance with the minimum capital requirement set by the Bank of Ghana. The Banks and Specialised Deposits Taking Institutions Act 2016, (Act 930) requires all Banks to have a minimum...
The Group CEO and Chairman of the Fidelity Group Ghana Ltd, Mr Edward Effah, has urged heads of institutions and entrepreneurs to build their organisations in a such a way that they continue to thrive even when they vacate their positions. Mr Effah was speaking on “Corporate Governance” at the...