20 Banks Meet GHC400m Minimum Capital Requirement, Fate of 10 in Limbo

Twenty out of the 30 existing universal banks in Ghana have met the GHC400 million Minimum Capital Requirement of the Bank of Ghana as the 31 December 2018 deadline approaches, Second Deputy Governor Elsie Awadzi has revealed at a Finance forum in Accra. “Over 20 banks have met [the minimum capital requirement] or are already … Read more

Ex-Bankers yet to Receive Psychological Support

Ex-staff of Capital and UT Banks are yet to receive the requisite psychological support months after the sudden collapse of the two banks rendered majority of them jobless. Challenges with securing their severance package, family pressure, and difficulty in getting new jobs, have all conspired to create an unfavourable state of mind for the former … Read more

Directors Must Also Go Through Vigorous Interviews Before Appointment

Directors must also go through vigorous interviews before appointment – Justice Sao The Chief Executive of Institute of Directors, Justice Awuku Sao is asking corporate institutions not to appoint people as directors without looking at their competence. According to him, the way directors of institutions are appointed in the country leaves much to be desired … Read more

UT Bank Woes Deepen As GSE Suspends Its Listing On the Exchange

The Ghana Stock Exchange (GSE) has suspended the listing of UT Bank Limited indefinitely and this follows the forceful takeover of UT by Ghana Commercial Bank. The suspension follows the revocation of the license of UT Bank which was announced on Monday August 12, 2017 because of the banks increasing liabilities which outstrip its assets. … Read more

Banks’ Interests On Car Loans Drop To 31.1 % In June

Banks’ interests on car loans drop to 31.1 % in June The latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana shows that Unibank offers the highest rate on vehicle loans. Its rate on your car loan is 39.8 percent. The report, however, stated that Bank of Baroda’s rate … Read more

Market Numbers To Soar Today Due To Pending Holiday

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

Stock Market Growth To Continue To Year-End – Analysts

Stock market analysts are confident that the positive performance of the Ghana Stock Exchange will continue till the end of 2017. After recording negative growth for about two consecutive years, the market is said to be recording a positive turn at least as at the middle part of the year. The Managing Director of the … Read more

Kofi Amoabeng Fraud Case Takes New Twist

A Nigerian–born Ghanaian lawyer, has been suspended from legal practice by the General Legal Council; the main regulatory body for the conduct and administration of legal education and profession in the country. According to a letter sighted by The Herald, Martin C. Nwosu, who has lived in Ghana and worked as lawyer and a lecturer … Read more

NPP Creates; Akufo-Addo Shares With His Family

Supreme Court Judge and a blood relation of President Akufo-Addo, was last Friday confirmed as Ghana’s next Chief Justice. President Akufo-Addo, ignored several dissenting opinion and told the media at a news conference at the Flagstaff House Friday, that he considers his cousin, Justice Sophia Akuffo, as the best person to lead the judiciary at … Read more

DJ Vyrusky Crowned Best DJ of the Year

The Rush Ghana DJ awards 2017 was held at the Silver Star Towers, Airport on Saturday. One of Africa’s leading Disc Jockeys DJ Vyrusky of Starr FM was adjudged Best DJ at the just ended Ghana Music Honors. It has taken him years of experience playing for friends to become the official DJ for Mz … Read more

UT Bank, Happy FM Target 1000 Pint Donation To National Blood Bank

UT Bank and Happy FM are spearheading the donation of over 1,000 pints of blood to stock the National Blood Bank and save lives at the 37 Military and Korle Bu Teaching Hospitals. Organized every year for the past 12 years, this year’s event will be held at the premises of UT Bank, located at Airport City … Read more

SSNIT Organises Workshop For Staff

SOCIAL Security and National Insurance Trust (SSNIT) has held an employers’ workshop on online contribution report (CR) submission and payment through the banks. It is to train more employers in the social security payment process. The workshop was also to ensure employer satisfaction to transacting business with SSNIT. A release issued in Accra recently said: … Read more

Mortgage Interests Increases To 33.8% In March

The average interest rate for mortgage loans among commercial banks reached 33.8 percent in March 2017. The figure recorded a 2 percent increase as compared to the 33.6 percent recorded at the end of February 2017. According to the Bank of Ghana’s Annual Percentage and Average Interest report, GCB Bank still offers the highest interest … Read more

Average Mortgage Interest Increases To 33.8% In March

The average interest rate for mortgage loans among commercial banks reached 33.8 percent in March 2017. The figure recorded a 2 percent increase as compared to the 33.6 percent recorded at the end of February 2017. According to the Bank of Ghana’s Annual Percentage and Average Interest report, GCB Bank still offers the highest interest … Read more

Average Interest On Car Loans Drops To 34.2% In March 2017

The industry average for vehicle loans has however dropped from 35 percent in February to 34.2 percent in March 2017, the latest Annual Percentage Rates and Average Interest report by the Bank of Ghana has shown. The report however shows that GCB Bank offers the highest rate on vehicle loans at 40.3%. Bank of Baroda … Read more

Analysts Predict Buoyant Performance On Ghana Stock Exchange

Stock market analysts are confident trading activities will bounce back in the second quarter following a pickup in trading activities on the local bourse. The 2017 first quarter performance indicate that the stock market gained about 10 percent growth compared to the negative 4.26 percent recorded in the same period last year. While investors of … Read more