Bank of Ghana says 4 banks under government’s bail-out plan are now fully capitalised, NIB still undercapitalised

Four banks under the government’s bail-out plan Ghana Amalgamated Trust (GAT) bond have fully capitalised, according to the Bank of Ghana.

Bank of Ghana says 4 banks under government’s bail-out plan are now fully capitalised, NIB still undercapitalised

The banks included ADB, OminiBSIC, UMB, and Prudential.

The Governor of the central bank, Dr Ernest Addison who made the revelation while speaking to journalist noted that with the exception of the National Investment Bank (NIB), all banks operating in the country have now met the GH¢400million capitalization.

According to him, the four banks under the government’s bail-out plan were helped with the needed funds to meet the recapitalisation requirements of GH¢400million.

He, however, noted that NIB is still undercapitalised as its liquidity challenges far exceed the GH¢400 million minimum capital.

“What this essentially means is that all 23 licenced banks in the country are now operating with the new minimum capital requirement with the exception of NIB,” which Dr Addison said needs more intervention.

“In the last week or so, we have had all the other banks complete their capitalisation. The only sticking point is the case of NIB, where the capital requirement appears to be larger than we originally envisaged. So, obviously, the NIB is a bank that we need to do some more work on. But it is a state bank, and the considerations are very different,” he added.

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