The market numbers in terms of values and volumes of shares so far has been impressive this week on the back of increased speculative activities on stocks such as UT Bank [UTB] and SIC. As rightly predicted by GN Analysts at week open, the total value of shares traded has soared above last week’s level … Read more
Every motorcycle racer and fan around the world should and probably does look up to this guy. I did, and still do. The best professional I have ever had the pleasure to meet, share a track with and be a friend of. RIP @nicky_hayden. Our thoughts are with Jackie and the whole Hayden family A … Read more
Financial institutions operating in the country have with immediate effect stopped charging 17.5 percent Value Added Tax (VAT) on all financial services. The decision is in pursuant to the Value Added Tax Amendment Law (Act948, 2007). Banks such as Access Bank, Ecobank, Unibank, CAL, UMB Bank and Zenith Bank, among others, have sent text messages … Read more
CAL bank (CAL) recorded a 23.22% dip in pre-tax profits for the first quarter of 2017 (Q1-2017). Total Profits before tax fell from GHS 58,389,000 in Q1-2016 to GHS 44,831,000. The fall in pre-tax profits reflected the challenges the bank continues to face with regards to the energy sector debts yet to be repaid to … Read more
A commercial court in Accra is expected to hear a case involving CAL Bank and the University of Ghana, on 13th December 2016, over the latter’s failure to pay for a 43 million cedis loan facility it contracted in 2007. The University is also reported as breaching a payment plan agreed on with by CAL … Read more
19 banks owed under the ‘legacy debt’ received second payment in the first quarter of September. This was part of schedule of payment as agreed between the banks and government. The Ministry of Finance, the Bank of Ghana (BoG), and the Ghana Bankers Association in August announced a roadmap aimed at clearing the Volta River … Read more
President of Ghana Association of Bankers (GAB) has indicated that Non-Performing Loans (NPL) of banks should reduce significantly before the end of this year. Alhassan Andani’s assurance follows a substantial increase in Impairment Charge on loans and Advances by some listed banks, like Ecobank, CAL, SG and Standard Chartered Bank. The third quarter earnings revealed … Read more
About eight banks will resort to the capital market, or at worst undertake private placement, to raise funds to meet the expected new capital requirement for all banks in Ghana, Business Finder has learnt. The banks include local giant Fidelity which has not hidden its intention of listing on the Ghana Stock Exchange (GSE) to … Read more
President John Dramani Mahama has commissioned the JOB 600 multi purpose office complex for official use by Members of Parliament. The post-independence structure, which is just behind the Parliament House, was commissioned by Dr. Kwame Nkrumah, the first President of Ghana, in 1965. It was constructed to serve as the venue for the 1965 meeting … Read more