Dr Ernest Addison, BoG Governor
The Central Bank has stated that 31 commercial banks have satisfied all requirements to operate in the country.
The release of the latest list by the Bank of Ghana (BoG), released in August, this year, is aimed at restoring customers’ confidence in the banking sector after the collapse of some local banks.
In August 2017, the Bank of Ghana (BoG) gave GCB Bank the green light to acquire two local banks – UT Bank and Capital Bank.
In August 2018, the Bank of Ghana announced the creation of Consolidated Bank to take over some five struggling local banks, namely Beige Bank, Sovereign Bank, Construction Bank, The Royal Bank and uniBank.
Dr. Ernest Addison, Governor of the Bank of Ghana, hinted that some banks presented fake documents to outsmart the Central Bank but were discovered and sanctioned.
These banks have since not been able to meet the new capital requirement of GH¢400 million, which all institutions vying to remain in the banking industry are expected to meet by 31 December, this year.
Banks in good standing include Access Bank (Ghana) Limited, ADB Bank Limited, Bank of Africa, Ghana Ltd, Bank of Baroda (Ghana) Limited, Banque Sahélo-Saharienne pour I’Investissement et le Commerce BSIC (Ghana) Limited, Barclays Bank of Ghana Ltd, and CAL Bank Limited.
Others are Consolidated Bank Ghana Limited, Ecobank Ghana Limited, Energy Commercial Bank Ltd, FBNBank (Ghana) Ltd, Fidelity Bank Limited, First Atlantic Bank Ltd, First National Bank (Ghana) Ltd, GCB Bank Limited, GN Bank Limited, Guaranty Trust Bank (Ghana) Limited, Republic Bank (Ghana) Ltd, National Investment Bank Ltd, Prudential Bank Limited and Societe General (Ghana) Limited.
The rest are Stanbic Bank Ghana Ltd, Standard Chartered Bank (Ghana) Limited, United Bank for Africa (Ghana) Ltd, Universal Merchant Bank Ltd, Zenith Bank (Ghana) Limited, Premium Bank Ltd, OmniBank Ghana Limited, Heritage Bank Limited, GHL Bank Limited and
ARB Apex Bank Ltd.