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Banking In Ghana Prudential bank is not collapsing – Mgt.

In a statement the bank said “the bank has never experienced liquidity problems nor has it gone to the bank of Ghana for liquidity support in its 22-year history. This can be attested by the Bank of Ghana.”

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The management of Prudential Bank Limited has debunked rumours on social media that the bank is collapsing.

In a social media post on Tuesday (October 10, 2018), a user alleged on his Facebook wall that the indigenous bank is insolvent. He added that the Bank of Ghana (BoG) will soon take over the management of the bank. He, therefore, encouraged customers of the bank to go and withdraw their monies in order to prevent holdups when the bank goes down.

However, Prudential bank described the post as malicious and said that it should be disregarded.

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 “The attention of the management of Prudential Bank limited has been drawn to malicious rumours circulating on social media that customers of the bank should rush to withdraw their money because the bank is “dead”.

“The bank has never experienced liquidity problems nor has it gone to the bank of Ghana for liquidity support in its 22-year history. This can be attested by the Bank of Ghana,” the bank said in a statement.

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This is coming after 5 banks local banks were consolidated barely a year after 2 were taken over by GCB Bank due to insolvency challenges.

The 5 banks have now been merged to create the Consolidated bank Ghana limited.

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