Dr Ernest Addison (3rd l eft) and his lieutenants and other regula tors at the event
REGULATORS IN the financial sector have applauded Consolidated Bank Ghana (CBG)’s efforts at delivering quality and strong banking services to its valued customers.
At a meeting with financial institutions in Accra on Thursday, the Bank of Ghana (BoG), Securities and Exchange Commission (SEC), and the National Pension Regulatory Authority (NPRA) announced they were strongly in support of CBG to spur economic growth.
Ernest Addison, Governor of BoG said “Consolidated Bank was birthed on 1st August, 2018. At its initial stage, there were challenges and doubts but under good management the story is positive now”.
“We are very happy with CBG and I applaud the Management and Board of CBG for the hard work done so far. We have seen significant improvements in the bank and their deposits are growing quickly”, he said.
Rev. Daniel Ogbamey Tetteh, SEC Boss, added that the institution is ready to support CBG.
“There is greater cooperation and coordination among the regulators and we are determined to stand together to give the right support CBG needs to build up and restore confidence in the financial sector.”
Managing Director of NPRA, Hayford Attah Krufi, commended the transparency with which CBG conducted its business.
“A year ago, CBG was formed to handle customers of erstwhile banks. CBG has not only handled the mess but won the hearts of its customers, regulators and the general public” he said. “We are here to support your every move as a strong and reliable player. We at NPRA stand with you.”
MD of CBG, Daniel Wilson Addo, assured regulators, heads of financial institutions and customers that CBG was focused on carrying out its mandate to ensure depositors’ funds were protected while building an institution that would play a significant role in the Ghanaian business arena.
“We were faced with the task of validating all accounts and their balances after which CBG could confidently pay out; we are well grounded in solid governance and prudent risk management within BoG and international standards. We have tailor-made products, the right and experienced human resource on our team to deliver nothing short of your expectations and even beyond” Mr. Addo added.
The meeting ended in the cool of the airport breeze as stakeholders engaged further in business discussions and partnership.
A business desk report