The Bank of Ghana has revoked the licenses of Heritage and Premium banks.
The central bank has also approved a purchase and assumption agreement with Consolidated Bank Ghana Limited to take over the liabilities and selected assets of the now defunct banks.
Governor of the Bank of Ghana, Dr. Ernest Addison made the announcement on Friday, January 4, 2018.
This comes on the back of the expiration of the deadline given to banks in Ghana to recapitalize by at least GHc400 million by December 31, 2018 or risk having their licenses revoked.
Some five banks earlier in 2018 had their licenses revoked and merged as Consolidated bank Ghana limited.
Earlier reports suggested that some 22 commercial banks had been able to recapitalize remaining eight others who were struggling to meet the deadline.
More soon…
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By: Godwin Akweiteh Allotey | citinewsroom.com | Ghana
The post Premium, Heritage banks’ licenses revoked; merged with Consolidated bank appeared first on Citi Newsroom.
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