Here is the list of recapitalised banks  in Ghana

Here is the list of recapitalised banks in Ghana

The Bank of Ghana (BoG) will, this week, announce the list of banks that have successfully raised their minimum capitals to GH₵400 million in compliance with its earlier directive, which elapsed on December 31, 2018.

Ahead of the official announcement, Graphic Online is making the following informed predictions based on reliable information pieced together.

1. We foresee BoG making key decisions on two of the banks, using provisions set out in Sections 103 to 137 of the Banks and Specialised Deposits Taking Institutions Act 2016 (Act 930). Both banks are unable to recapitalise, with one having a capital deficit in excess of GH₵800 million.

2. We foresee one bank being downgraded to a savings and loans company for being unable to meet the minimum paid up capital as at the December 31, 2018 deadline

3. We foresee BoG announcing that it has accepted a government-backed arrangement by private investors to raise up to GH₵2 billion through bonds to invest in six indigenous banks to enable them to meet the minimum capital.

The first tranche of the bond could be around GH₵800 million and will be used to recapitalise well-governed, solvent but undercapitalised banks (find list below).

The transaction is being executed by a special purpose vehicle, the Ghana Amalgamated Trust (GAT) Limited

Below are the list of banks and their status as far as the recapitalisation is concerned

List of successfully recapitalised banks

1. Access Bank Ghana Limited

2. Barclays Bank Ghana Limited

3. CAL Bank Limited

4. Consolidated Bank

5. Ecobank Ghana Limited

6. FBNBank Ghana Limited

7. Fidelity Bank Limited

8. First National Bank Ghana Limited (FNB)

9. Republic Bank Ghana Limited

10. GCB Bank Limited

11. Guaranty Trust Bank Ghana Limited (GTBank)

12. Society Generale Ghana Limited

13. Stanbic Bank Ghana Limited

14. Standard Chartered Bank Ghana

15. United Bank for Africa Ghana Limited (UBA)

16. Zenith Bank Ghana Limited

Not recapitalised but being supported

17. ADB Bank

18. National Investment Bank (NIB)

19. Prudential Bank

20. Universal Merchant Bank Limited (UMB)

21. Heritage Bank Limited

22. OmniBank Limited

Ongoing mergers

23. Energy Commercial Bank Ghana Limited and First Atlantic Bank Limited

24. OmniBank and Sahel Sahara Bank

Ongoing takeovers

First National Bank Ghana Limited (FNB) takes over GHL Bank

Voluntary liquidation

Bank of Baroda (customers absorbed seamlessly by Stanbic Bank Ghana Limited)

Not recapitalised but no credible news yet

25. Bank of Africa Ghana (BoA) Limited

26. GN Bank Limited

27. Premium Bank Limited

Source:Graphic

Citizen Kwadwo

I am political enthusiast and also writes on entertainment for Ghanashowbiz.com which has a large following. I collaborates with the top artists in the country to promote their good contributions to the entertainment industry as well as write on any broken news in the political world.

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