Capital requirement: Many banks close, others merging – BoG
November 26, 2018
The Governor of the Central Bank Dr. Ernest Addison has revealed many banks in the country are close to meeting the new minimum capital requirement for banks while others are discussing mergers as the December deadline approaches.
He says the Central bank is playing the necessary role to ensure that the financial institutions are able to go through the exercise smoothly.
“We are happy to note that many banks are close to meeting the new Minimum Capital Requirement and a few are concluding discussions on merger,” Dr. Addison said at a media briefing in Accra.
The Central Bank increased the minimum capital requirement for banks from GH¢120 to GH¢400 million to improve stability in the banking industry whilst growing the industry.