Has your bank recapitalised yet? Here is the list

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. Graphic Online says based on reliable information gathered, it foresees 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. One bank is expected to be downgraded to a savings and loans company for being unable to meet the minimum paid-up capital as of the December 31, 2018 deadline BoG will announce 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. The transaction is being executed by a special purpose vehicle, the Ghana Amalgamated Trust (GAT) Limited. Below is 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

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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 Online | Ghana]]>