Audio By Carbonatix
The Bank of Ghana (BoG) has given a “no objection” to the planned merger talks between First Atlantic Bank and Energy Commercial Bank.
Sources close to the deal say the Central Bank’s green light was communicated on Friday, December 14, 2018.
This means the discussions can begin having secured all the documents that give more information about the merger between the two banks.
According to BoG, its own regulations direct that it is expected to review the documents that two parties have submitted.
The "no objection " communication would help the two banks to fast-track the process in meeting the new minimum capital requirement of 400 million cedis by December 31 as set by BoG.
The two banks are entering into this “marriage” after Energy Commercial Bank failed to raise the targeted amount of ¢340 million to help meet the new minimum capital requirement of ¢400 million.
This resulted in the two banks signing a MoU to merge their business to help them meet the new capital levels set by the BoG.
Latest Stories
-
Mr President, Ghana was mentioned at the UN; why aren’t we talking about it?
3 hours -
Accra to convene Africa’s regulators and markets on tokenisation at AVAS 2026
3 hours -
The Paradox of Plenty — When every smartphone becomes a newsroom
3 hours -
GTA sensitises taxi drivers in ‘Know Ghana’ tourism campaign
4 hours -
Archbishop Agyinasare calls for responsible speech amid growing social media abuse
5 hours -
‘It will be inexcusable for gov’t not to honour payment of teachers’ arrears by 30th October’ – Haruna Iddrisu
5 hours -
Forbes’ World’s Best Employers 2026: No Ghanaian firm ranked among 900 companies
5 hours -
Electronic processing of teachers’ data: ‘The decision is the Controller’s’ – GES boss
5 hours -
Teachers’ Strike: Haruna Iddrisu questions paper-based processing of promoted teachers’ data
5 hours -
Savannah Region: Kunfusi bridge collapses again, leaving nearly 4,000 residents cut off
5 hours -
Teachers’ strike: GES targets Monday deadline to submit promotion data to Controller
5 hours -
Inflation to average 11.3% in 2027 – Fitch Solutions
6 hours -
‘I didn’t campaign for NDC to come and do this nonsense’ – Kpebu on EOCO’s conduct
6 hours -
Fitch Solutions maintains policy rate forecast of 14% by December 2026
6 hours -
Diaspora Nasara Caucus congratulates Mohammed Ali Suraj, new NPP executives
7 hours