The two banks are seeking to merge before the end of the year.

This is also to allow them meet the December deadline for the new 400 million cedis minimum capital requirement.

The two companies are likely to finalize the deal by next weekend.

The Bank of Ghana has given preliminary approval as the banks talk to a third investor who will pump in more working capital.

The investor is said to be a foreign entity and is not a bank.

It is unclear when this agreement started as there has been a botched agreement of a merger among  GN Bank, Premium and Sahel Sahara bank.

Read More:https://www.citibusinessnews.com/2018/11/22/gn-bank-premium-bank-in-merger-talks-again/