Audio By Carbonatix
One of Ghana's most stable indigenous banks, Unibank, is to obtain a colossal amount of over GHS700 million.
The amount, which will significantly shore up the bank’s capital when the Central Bank approves the recapitalisation programme it is embarking on, will peg the bank’s assets at almost a billion cedis.
The over GHS700 million is coming from a local financial consortium led by Belstar Capital.
Sources close to the regulator of the banking sector, the Bank of Ghana, say a proposal has been received in respect of the transaction and is being studied.
Sources say the deal is expected to be closed very soon.
The transaction comes at a time the Central Bank is expecting banks in Ghana to meet the enhanced minimum capital requirement of GHS400 million.
With this amount, Unibank, which was recently adjudged the Best Practising Corporate Social Responsibility Company at the Ghana Club 100 awards, is set to play amongst the ‘big boys’ in the banking sector.
The Best Bank in Long term Finance- an honour conferred on it at the 16th Ghana Banking Awards - believes the financial status will catapult it into the top ten banks in the country and help create a comfortable buffer between the GHS400 million capital requirement and its actual asset base.
Business mogul cum politician, Papa Kwesi Nduom who runs the GN Bank has had cause to complain about the new capital requirement.
The GHS400 million represents a quantum leap from the previous minimum requirement of GHS120 million.
Financial analysts believe the wholly owned Ghanaian bank is in a strengthened position to continue to give its customers consistent and reliable banking services.
The bank, which early this year swept three other awards at the banking awards including ;1st Runner-up Best Growing Bank, 2nd Runner-up Best Bank in Customer Care, 2nd Runner-up Best Bank in Customer Advisory Services can continue to give oxygen to the country’s growth through its innovative products which receive praise annually.
Latest Stories
-
“The Darkest Chapter”: Latif Abubakar’s 21st production brings President Mahama’s UN reckoning to the National Theatre stage
3 minutes -
Teacher, three others investigated over alleged kidnapping of suspected MoMo fraudster in Kumasi
3 minutes -
Afenyo-Markin mourns Bernice Offei, describes her songs as ‘sermons set to music’
4 minutes -
Don’t just learn AI tools, use them to improve productivity – ALX Enterprise
11 minutes -
Free rabies vaccination campaign targets 25,000 dogs and cats nationwide
17 minutes -
Ghana needs a system to track child protection funding to where risks are highest – ARK Foundation
19 minutes -
AI may not replace humans, but workers who fail to adapt could lose jobs – ALX Enterprise
21 minutes -
Gideon Boako: Bretton Woods is fraying; Ghana has built a bridge
23 minutes -
Ghana’s child protection system failing children despite laws and policies – ARK Foundation
23 minutes -
‘Future of Black Queens is safe for many years’ – Black Princesses boss Charles Sampson
27 minutes -
Titus Glover questions Laboma Beach demolition, proposes widening Kpeshie Lagoon outlet
27 minutes -
NACOC arrests 3 suspects linked to Dutch fugitive drug kingpin
48 minutes -
Workers must complement AI skills with professional expertise to remain relevant – ALX Enterprise
1 hour -
Companies that delay AI adoption risk losing market opportunities – ALX Enterprise
1 hour -
‘The future is bright’ – Gyan backs Black Princesses squad after U-20 World Cup exit
1 hour