Tag Archives: Banks

Mixed reactions over Bank of Ghana’s New Minimum Capital

capital

The central bank has decided to increase the minimum stated capital requirement for commercial banks to GH?400 million, a more than 230 percent increment, the central bank has said. The central bank is said to have met the various heads of commercial banks Friday morning and told them they have up to December 2018 to meet the new minimum capital ...

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Banks’ loans to private sector increase by 45% in April – BoG report

Banks

Banks have begun easing out their stance on credit to the private sector following declining interest rates. The Bank of Ghana’s latest Banking sector report reveals that the credit allocation by banks increased from April 2016 to April 2017. Net loans and advances to the private sector by the commercial banks (which is total loans to customers, reduced by possible ...

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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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Cut number of banks from 33 to 15- Analyst to BoG

Bank of Ghana

Some business and financial analysts have begun expressing worry over the growing number of banks in the country. There are currently about 33 banks operating in the country with the number expected to increase as more financial institutions line up to receive licenses from the Bank of Ghana. Proponents for a cap on the number of banks in the country ...

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