15 banks set to meet GH¢400m minimum capital – BoG
This leaves at least 19 banks to resort to other available options to meet the minimum capital requirement.
Dr Addison further indicated that 6 banks have already met the new requirement. 9 others are in the process of hitting the mark.
Speaking at a media briefing after the Monetary Policy Committee meeting on Monday [July 23, 2018], the Governor said “Per the data available to us, we have six banks that have met, four banks that are most likely to meet and another five banks that are likely to meet. So straight away you could say that at the very least we could have fifteen banks by the end of the year.”
Failure to do so could result in a bank losing the license or have its status reduced.
After this directive was given, the indigenous banks appealed for an extension of the deadline by petitioning the President.
A committee established by the President to look into the concerns raised by the local banks is yet to publish its findings.
This could mean some banks that cannot meet the new minimum capital requirement on their own will merge. Others have also indicated that they will go to the stock market.
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