Imploded Bank in Ghana still keeping 93% of assets

Sam10

GOVERNMENT HAS had the option to recover just GH¢1.7 billion out of an aggregate of GH¢25 billion resources having a place with banks which fell in 2017 under the monetary area tidy up practice left upon by the Central Bank. Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), who uncovered this to columnist Monday in Accra at a question and answer session after the bank's 100th money related strategy council (MPC) meeting, said the trouble in recovering the resources had been powered by prosecution by the old banks. 


He featured that, "Things are not going as quick as we would need them to," because of the continuous legal disputes. 


A ton of business banks working in the country in 2017 were discovered to be going through troublesome occasions because of awful administration, bankruptcy and liquidity issues, to make reference to a couple. 


To address the damage that had been caused, the general banks working in the nation were coordinated to give another base capital of GH¢400 million before the finish of 2018. 


The order uncovered the shortcomings of a ton of the banks as they couldn't give the mentioned capital. Such banks had no alternative than to have their licenses renounced while others thought about consolidations. UT Bank and Capital Bank were taken over by GCB Bank Ltd while on account of UniBank Ghana, Beige Bank, Royal Bank, Sovereign Bank, Construction Bank, these were amalgamated into the current Consolidated Bank Ghana (CBG) Ltd. 


Then, Dr. Addison has demonstrated the financial area kept up its flexibility through to end-April 2021, with solid development in all out resources, stores and ventures, the Bank of Ghana has said. All iour love resources expanded by 16.4 percent to GH¢155.7 billion and this reflected solid development in interests in government protections by 34.9 percent to GH¢73.3 billion supported by stores and credit reimbursement

Sam10 newshub-gh@operanewshub.com