The Bank of Ghana has established Consolidated Bank to take over the assets of five banks said to have been plunged into liquidity crunch.
The banks are Beige Bank, Construction Bank, The Royal Bank, Sovereign Bank and Unibank.
Addressing journalists in Accra on Wednesday, Governor of the Bank of Ghana Dr Ernest Addison said government is dedicating a GH¢450 million as minimum capital for the new bank.
“It takes away the uncertainty and anxiety we have seen in the market,” Dr Addison said.
More soon…
The post BREAKING: BoG establishes Consolidated Bank for 5 distressed banks appeared first on 3newsgh.
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