First National Bank Ghana, confirms that its parent FirstRand Limited will meet Bank of Ghana’s new minimum capital requirement of GHC400,000,000.

“First National Bank is committed to serving the needs of our customers in Ghana” said Richard Hudson, CEO of First National Bank Ghana Limited.

First National Bank, recently crowned the best emerging brand by the Chartered Institute of Marketing Ghana (CIMG), is determined to bring its reputation of innovation and superior digital products to its customers in Ghana.

The bank started operations in Ghana some three years ago and offers retail, business, corporate and investment banking services. It currently operates seven branches and seventeen ATMs all in the Greater Accra region but has plans to expand further.

The statement comes few days before the December 31, BoG’s deadline for the new minimum capital requirement to expire.

Ahead of the deadline day, some banks have been dissolved; others consolidated with some contemplating mergers. 

The Bank of Ghana believes the new minimum capital requirement will sanitize and strengthen the sector.