{"id":613157,"date":"2019-05-05T14:02:37","date_gmt":"2019-05-05T14:02:37","guid":{"rendered":"<br><div>\n<figure class=\"fff post-thumbnail\" itemprop=\"associatedMedia\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><img class=\"post_layout_5_img\" src=\"https:\/\/cdn.ghana-mma.com\/2019\/05\/bog-511x330.jpg\" alt=\"Banking sector reforms yielding resul"},"modified":"2019-05-05T14:02:37","modified_gmt":"2019-05-05T14:02:37","slug":"banking-sector-reforms-yielding-results","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/05\/05\/banking-sector-reforms-yielding-results\/","title":{"rendered":"Banking sector reforms yielding results"},"content":{"rendered":"<p><\/p>\n<div>\n<figure class=\"fff post-thumbnail\" itemprop=\"associatedMedia\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><img decoding=\"async\" class=\"post_layout_5_img\" src=\"https:\/\/cdn.ghanamma.com\/2019\/05\/bog-511x330.jpg\" alt=\"Banking sector reforms yielding results \u2013 BoG\"\/><\/figure>\n<div class=\"mom-ads-wrap  \">\n<div class=\"mom-ads ads-layout-rotator ads-rotator-id-463\" style=\"width:728px; height:90px;\">\n<div class=\"mom-ads-inner\">\n<div class=\"mom-ad\" data-id=\"1236\" style=\"width:728px; height:90px; \">\n<img loading=\"lazy\" decoding=\"async\" class=\"appear\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/Say-yes-to-ads-Banner-728-X-90.jpg\" alt=\"Right Below Featured Image\" width=\"728\" height=\"90\"\/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>A Deputy Governor of the Bank of Ghana, Elsie Awadzi has said that the Central Bank\u2019s recent banking sector clean-up has started to yield positive results.<\/p>\n<p>According to her, the move which led to the collapse of about some banks has helped to stabilize Ghana\u2019s banking sector.<\/p>\n<p>Speaking at \u2018World Meets\u2019 in Ghana Investors Forum in Kumasi as part of Otumfuo Osei Tutu II 20th Anniversary celebration, she noted that the intervention by the Bank of Ghana has helped to protect depositors funds and instilled confidence in the Ghanaian banking sector.<\/p>\n<blockquote>\n<p>\u201cIn the banking sector, regulatory reforms we have recently embarked upon have ensure that banks are better capitalized and better governed and we have consolidated the industry from some 35 banks to currently 23 banks.<\/p>\n<p>We can say that these banks are better capitalized, more liquid, stronger and better governance and employ better risk management systems are processes to ensure that the monies that we deposit with them are safe,\u201d she said.<\/p>\n<p>\u201cWe have strengthened our regulatory and supervisory framework so that it is more aligned with international best practices,\u201d she added.<\/p>\n<\/blockquote>\n<p><strong>BoG reforms<\/strong><\/p>\n<p>In August 2017, the Bank of Ghana (BoG) gave GCB Bank Ltd the green light to acquire\u00a0<strong>two local banks<\/strong>\u00a0UT and Capital bank due to severe impairment of their capital.<\/p>\n<p>In August 2018, the Bank of Ghana consolidated\u00a0<strong>five other local banks<\/strong>\u00a0into what it calls the Consolidated Bank Ghana limited.<\/p>\n<p>The banks were Beige,\u00a0Construction, Royal, uniBank and Sovereign Banks. Beyond have liquidity challenges, some of them were engaged in activities that the Bank of Ghana considered criminal.<\/p>\n<p>The bank of Ghana in a statement on January 4, 2019,\u00a0following the expiration of the minimum capital requirement deadline, said, all the 23 remaining\u00a0banks have met the new minimum paid-up capital of GHC400 million.<\/p>\n<p>The Bank of Ghana further explained that it had revoked the licenses of\u00a0<strong>Premium Bank and Heritage Bank<\/strong>\u00a0and approved their takeover by Consolidated Bank Ghana Limited.<\/p>\n<p>It said in the case of Heritage Bank; the institution had questionable sources of capital.<\/p>\n<p>Meanwhile, GN Bank has been downgraded into a savings and loans company following its inability to meet the minimum capital requirement.<\/p>\n<p><span class=\"ctx-article-root\"\/>  <\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Deputy Governor of the Bank of Ghana, Elsie Awadzi has said that the Central Bank\u2019s recent banking sector clean-up has started to yield positive results. According to her, the move which led to the collapse of about some banks has helped to stabilize Ghana\u2019s banking sector. Speaking at \u2018World Meets\u2019 in Ghana Investors Forum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":613158,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-613157","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Banking sector reforms yielding results - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/05\/05\/banking-sector-reforms-yielding-results\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Banking sector reforms yielding results - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"A Deputy Governor of the Bank of Ghana, Elsie Awadzi has said that the Central Bank\u2019s recent banking sector clean-up has started to yield positive results. 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