International rating agency Moody’s has lauded the Bank of Ghana (BoG) for carrying out much-needed banking sector reforms within the specified time.
Databank Financial Services has said claims that it has started dealing in gold collectibles following the collapse of Menzgold Ghana Limited are false.
Frontclear, Fidelity Bank Ghana and Societe Generale completed a $40 million cross-currency total return swap transaction.
Prof. Osei Assibey has criticised the central bank's decision to set minimum capital of GH¢400m for all banks in the country notwithstanding their size.
Government has been criticised for lack of fairness in its selection of banks for a bail-out after they failed to raise the new GHS400 million capital requirement.
The receiver of collapsed Heritage and Premiums banks, Vish Ashiagbor of PricewaterhouseCoopers (PwC), has terminated the employment contracts of workers of the two erstwhile banks.
Marching towards the dais for a town hall meeting with his fellow Sierra Leonians in Brussels, President Julius Maada Bio’s military gait is unmistakeable.
Banks operating in Ghana wrote off a total amount GH¢1.1 billion in the first 10 months of this 2018 as bad debt.
First Atlantic Bank says it has exceeded the GHc400 million minimum capital requirement by the Bank of Ghana.
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi, has disclosed that the Central Bank is prepared to waive its second position for the sake of the workers of defunct UT and Capital Banks so that they get some benefits paid to them instead of waiting longer at fifth position.
Board members of defunct Heritage bank has described the withdrawal of their universal banking licence as “a grave injustice and a terrible precedent”.
Ex-staff of some banks whose licenses were withdrawn by the Bank of Ghana will be considered for payment in place of the Central Bank “on humanitarian grounds,” the regulator has said.
On Friday 4th January 2019 the Governor if the Bank of Ghana, Dr Ernest Addison held a press conference on the state of banks which had met the GHC 400 million minimum capital requirement.
Government has passed the historic Fiscal Responsibility Act, to anchor fiscal discipline and ensure prudence in the management of the economy.
The President, Nana Akufo-Addo has appointed former Governor of the Bank of Ghana Dr. Paul Acquah as Chairman of the newly established Fiscal Council.
The government has said the planned financial support for selecting banks and the banker sector clean-up exercise that was concluded recently assures it of a more robust sector.
The Head of Banking Supervision at the Central Bank has hinted that management will soon punish staff cited for their role in the liquidation of some banks.
The Bank of Ghana (BoG) says as part of its efforts to clean up the banking sector, it has recently examined the affairs of Heritage Bank and discovered a number of anomalies.
The Central Bank has given a detailed explanation its decision to revoke the license of Premium Bank Limited as it ends its two-year Banking Sector Reforms.
GN Bank, which was downgraded by the Central Bank on Friday to a savings and loans company, says it has started the transition process so as to serve the needs of their customers.
The Governor of the Bank of Ghana, Dr Ernest Addison has said the banking sector reforms that begun some two years ago has been completed.
The operational licences of Heritage Bank and Premium Bank have been revoked by the Bank of Ghana, Governor of the central bank announced Friday.
As part of this reform exercise, the banking licences of seven insolvent banks were revoked over the last sixteen months. Steps were taken to ensure that they exited the market in an orderly manner.
The Bank of Ghana has downgraded GN Bank to a savings and loans company.
Omni and Sahel Sahara Bank are now looking at fast-tracking the integration of their systems and personnel after the two banks secured Bank of Ghana’s approval to merge their operations.
Three former Credit Suisse bankers have been arrested over their alleged role in a $2bn (£1.5bn) fraud scheme connected to firms in Mozambique.
The Bank of Ghana (BoG) has given final approval for the merger of indigenous lender, Omni Bank, with Sahel Sahara Bank into one entity to be known as Omni-BSIC Bank Ghana Limited.
The Bank of Africa (BoA) Ghana Limited says it has "almost" completed processes for meeting full capitalization of ¢400 million and expects to achieve it by January 7.
Marketing Consultant, Edward Prince Amoatia Younge, has been appointed as a board member of GCB Bank Limited.
Government has justified its decision to back financial support arrangements that would raise the minimum capital requirement levels of seven local banks.
Bank of Baroda Ghana has provided further details about a deal it entered with Stanbic Bank Ghana following its intention to voluntarily wind up operations in the country.
Employees at Bank of Baroda, an Indian-based bank that has decided to transfer its depositors and loans to Stanbic Bank, will more than likely lose their jobs.
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.
Stanbic Bank Ghana Limited, has absorbed customers of the local subsidiary of Indian-state lender, Bank of Baroda under an arrangement that comes at no cost to the former.
The Ghana Interbank Payment and Settlement System Ltd will this year roll out a key project that would enable businesses, both small and big, including public institutions to receive payment online.
CAL Bank has announced with excitement its meeting the Bank of Ghana ¢400 million minimum capital requirement for all universal commercial banks.
Banks in the country are moving away from lending to investments as they restructure their balance sheets.
Six indigenous banks have agreed to relinquish part of their stakes to government in return for equity investment from the state to enable them to recapitalise to ¢400 million.
UBA (Ghana) Limited, a subsidiary of UBA Plc, has announced the appointment of a renowned and experienced banker, Isong A. Udom, as its new Managing Director.
At least 5 commercial banks could lose their universal banking licenses later this week as the December 31 deadline to meet the new capital requirement expires today.
First National Bank (FNB) has confirmed to JoyBusiness in an email that it is in possible takeover talks with GHL Bank.
JoyBusiness is reliably informed that discussions are far advanced for the possible takeover of GHL Bank by First National Bank soon.
Rating Agency- Fitch Ratings has upgraded the Long-Term Issuer Default Rating (IDR) of UBA Ghana to “B” from “B-“, with stable outlook.
The Bank of Ghana (BoG) has endorsed the decision by the Agricultural Development Bank to convert debt of GHc150 million to equity shares to help meet the minimum capital requirement.
Leading Savings and Loans institution in Ghana, Opportunity International Savings and Loans (Opportunity International), has demonstrated leadership in Ghana’s savings and loans industry by winning 7 awards in the year 2018.
President Nana Akufo-Addo has revealed that a Special Investigations Team has been put in place to undertake criminal investigations into the failures of all seven banks for possible prosecutions.
Nigeria’s Access Bank has agreed to takeover mid-tier rival Diamond Bank, the lenders said on Monday, in a deal both said would create Africa’s largest bank by customers.
A former Multimedia staff, was on Friday crowned the Economic and Financial Journalist of the Year at the 5th IFEJ Business Journalism Awards.
Fidelity Bank has launched an ultramodern branch to offer its cherished customers a seamless banking experience at Oxford Street in Osu, Accra.
A Banking Consultant has urged banks which have met the minimum capital requirement set by the Bank of Ghana to move into 2019 with zeal.
Thousands of GCB Bank customers are to be rewarded as their Christmas bonus for international inward remittances received through the Bank this festive season.
Stanbic Bank has been awarded the Financial Deal of the Year Award, at the fourth Ghana Mining Industry Awards (GMIA) for a corporate facility to Gold Fields Ghana Limited.