Saturday, June 25, 2022

Six banks to get 2 billion cedis bailout package from Government

Must Read

Albert Kwabena Dwumfour is new GJA President-Elect

By: Henrietta Afful Albert Kwabena Dwumfour has been elected President of the Ghana Journalists Association, GJA after the National and...

Younga 101 drops latest single, “No Sad Days”

Ghanaian Afro-Fusion artist has released his latest single, ‘No Sad Days’ (NSD). Younga 101 is a rapper, singer and songwriter....

We’ll block all unregistered SIM cards after 31st July – MTN warns as deadline looms

By: Nicholas Osei-Wusu As the 31st July 2022 deadline for the merger of people’s mobile phone SIM numbers and their...
Seli Baisie
Journalist/ Entertainment, Lifestyle blogger, Nature Lover.

Government is to announce a two billion cedi bailout package for some six indigenous banks.
The package was hurriedly put together this month for the six, which are seen as well-governed, solvent but unable to meet the BoG 400 million cedi new minimum capital for banks on their own.
The move seen as the only glimpse of hope for the six banks, who risk having their licenses withdrawn or at best downgraded to savings and loans companies for failing to successfully recapitalize since September 2017.
In line with this Stanbic Bank Ghana Limited has absorbed customers of Indian-state lender, Bank of Baroda under an arrangement that comes at no cost to Stanbic.
A financial Analyst Dr Ebenezer Ashley told Abraham Donkor in an interview that the move by the Bank of Ghana is a step in the right direction in creating a healthy banking sector in Ghana.
He said that the bailout by the Bank of Ghana is not a new phenomenon, adding that the 2 billion cedi package is enough for the six banks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Albert Kwabena Dwumfour is new GJA President-Elect

By: Henrietta Afful Albert Kwabena Dwumfour has been elected President of the Ghana Journalists Association, GJA after the National and...

Younga 101 drops latest single, “No Sad Days”

Ghanaian Afro-Fusion artist has released his latest single, ‘No Sad Days’ (NSD). Younga 101 is a rapper, singer and songwriter. He refers to his music...

We’ll block all unregistered SIM cards after 31st July – MTN warns as deadline looms

By: Nicholas Osei-Wusu As the 31st July 2022 deadline for the merger of people’s mobile phone SIM numbers and their Ghana Card fast approaches, one...

Nobody has to pay a penny to go to my school – Michael Blackson

By: Seli Baisie   American-Ghanaian-Liberian actor and comedian, Michael Blackson has revealed that the new school he has constructed at Nsaba near Swedru in the Central...

School Feeding vrs Cathedral: Government urged to set priorities right

By: Nana Ama Gyapong The Executive Director of the National Interest Movement, Susan Adu-Amankwa has asked government to prioritize what is important it, that is,...

More Articles Like This