Frank Adu Jnr, Managing Director of CAL Bank, has proposed an increment in the current minimum capital requirement for universal banks from GH¢120million to US$200million, to create larger banks that can undertake big-ticket transactions. This, according to him, would enable banks finance massive infrastructural developments such as airports, bridges, roads, ports and harbours. “I think … Read more
The Ministry of Finance has set a target to increase the country’s banked population from 58% to 75 % by the year 2020. In line with the target, the ministry will in June this year launch a National Financial Inclusion Strategy targeted at financial literacy, a key tool for financial inclusion. According to the ministry, … Read more
BEIGE, the financial services provider, has returned an impressive performance in its portfolio of businesses last year, meeting all of its major targets and expectations. Besides multiple acquisitions to complement its technical and resource capacity, BEIGE also invested in processes and human capital to strengthen its preparedness for the next phase of the institution’s evolution … Read more
BEIGE, the financial services provider, has returned an impressive performance in its portfolio of businesses last year, meeting all of its major targets and expectations. Besides multiple acquisitions to complement its technical and resource capacity, BEIGE also invested in processes and human capital to strengthen its preparedness for the next phase of the institution’s evolution … Read more
ABii National Savings and Loans Limited, one of the leading non-bank financial services providers, has been voted the ‘Top Emerging Brand’ and ‘The Most Promising Savings and Loans Brand’ in Ghana in 2016. A citation accompanying the award said: “For having been voted the ‘Top Emerging Brand’ and ‘The Most Promising Savings and Loans Brand’ … Read more
A Deputy Finance Minister designate, Charles Adu Boahen has warned against capping the number of banks in the country. Calls for a cap on the number of banks in the country have increased following the rising number of banks in the country. There are currently 33 banks operating with the number expected to rise to … Read more
In an expansion drive to serve customers better, SME Bank, OmniBank has opened an ultra-modern branch at Tarkwa, in the Western region Coming in as its latest branch in the region after the Takoradi branch, the launch of Tarkwa brings the bank’s branch network to 24. Known for its focus on SME Banking, the opening … Read more
A life insurer in Ghana, SIC Life Company Limited is set to operate Universal bank in 2019. This was disclosed by the company’s Chief Executive Officer (CEO), Dr. Aaron Issa Anafure at the launch of SIC Life Pensioners’ Association in Accra Tuesday. “The company is preparing towards establishing a bank,” he told journalist at the … Read more
Heritage bank, one of the new banks which recently got the green light from the Bank of Ghana(BoG) to operate as a commercial bank in Ghana is to begin full operations in February this year. The bank which is a wholly owned Ghanaian bank, got the nod from the BoG to commence business operations as … Read more
Capital Bank has opened an ultra-modern branch on the Harper Road in Kumasi, as it seeks to increase its offering to the public in the Ashanti regional capital. “The new branch is part of Capital Bank’s strategy of rolling out world class branches with a strong African identity in line with the Bank’s vision of … Read more
Capital Bank has opened an ultra-modern branch on the Harper Road in Kumasi, as it seeks to increase its offering to the public in the Ashanti regional capital. ‘’The new branch is part of Capital Bank’s strategy of rolling out world class branches with a strong African identity in line with the Bank’s vision of … Read more
The ADB Bank Limited has donated bundles of fishing nets and twines worth GH¢100,000 to fishermen who lost their fishing gears when tidal waves hit the country’s coastlines on September 4, this year. The fishermen had their fishing gears including outboard motors, fishing nets, ropes, canoes and boats damaged by the tidal waves. Fishers from … Read more
Ghana’s biggest indigenous bank, GN Bank, has added another branch to its outlets bringing its number of branches to 269. The Yesunkwa branch, which is near Elmina in the Central Region including other branches of the bank, makes it the only universal bank in the country with the largest number of branches in Ghana. Unveiling … Read more
Criticisms have started pouring in at the recently launched GH¢100 million guarantee fund the central bank and other stakeholders launched to attract banks into lending more to agriculture. Known as the Ghana Incentive-Based Risk Sharing System for Agricultural Lending (GIRSAL), the initiative is aimed at courting commercial banks into agriculture financing to address the challenges … Read more