{"id":704177,"date":"2019-09-12T15:29:29","date_gmt":"2019-09-12T15:29:29","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/09\/12\/banking-sector-received-gh%c2%a21-5bn-fresh-capital\/"},"modified":"2019-09-12T15:29:29","modified_gmt":"2019-09-12T15:29:29","slug":"banking-sector-received-gh%c2%a21-5bn-fresh-capital","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/09\/12\/banking-sector-received-gh%c2%a21-5bn-fresh-capital\/","title":{"rendered":"Banking Sector Received GH\u00a21.5bn Fresh Capital"},"content":{"rendered":"

<\/p>\n

\n

Dr Ernest Addison, BoG Governor<\/strong><\/em><\/p>\n

THE COUNTRY\u2019S
\nbanking sector received about GH\u00a21.5 billion in fresh capital last year as
\nbanks moved to meet the Bank of Ghana (BoG)\u2019s December 31, 2018, deadline to
\nmeet the minimum capital requirement. <\/p>\n

A PwC survey,
\npublished recently which made this known, said the BoG\u2019s directive to the banks
\nprovided three sources of meeting the GH\u00a2400 million minimum capital
\nrequirement. The banks could seek fresh capital; capitalize from their reserves;
\nor a combination of the two sources.<\/p>\n

But the 2019 PwC
\nBanking Survey published last week revealed that banks injected fresh capital
\namounting to GH\u00a21.5 billion into their operations to meet the BoG directive.<\/p>\n

\u201cSources of fresh
\ncapital injection included equity from parent companies as well as funds from
\nother private investors. Some banks refrained from paying their shareholders
\ndividend for the year to shore up their reserves to meet the GH\u00a2400 million
\nrequirement,\u201d the survey said.<\/p>\n

Thirty-six per
\ncent of bank executives interviewed- mentioned that they had secured the
\nminimum capital through a hybrid of reserves and injection of fresh capital,
\nwhile 18% secured it through fresh capital injection only.<\/p>\n

The PwC survey
\nsought the views of bank executives \u2013 chief executive officers, chief finance
\nofficers, chief risk officers, chief operation officers and heads of strategy in
\nGhana- through interviews and questionnaires carefully designed to elicit views
\non the impact of the central bank\u2019s reforms on their business.<\/p>\n

According to some
\nbank executives, the increase in the stated minimum capital is necessary and
\ncrucial in unlocking opportunities for players in the sector. They believe now,
\nthat banks have a levelled playing field and are in a position to partake in
\nbigger ticket transactions that hitherto were not possible or were the preserve
\nof a few international banks. An example is government\u2019s syndicated loans.<\/p>\n

Further, the
\nincreased capital, coupled with an increase in the value of the single obligor
\nlimit, on the back of increased net worth of banks, following the injection of
\nadditional capital, puts banks on a good trajectory to explore lending
\nopportunities to especially corporate clients. \u2013 Citinewsroom<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Ernest Addison, BoG Governor THE COUNTRY\u2019S banking sector received about GH\u00a21.5 billion in fresh capital last year as banks moved to meet the Bank of Ghana (BoG)\u2019s December 31, 2018, deadline to meet the minimum capital requirement. A PwC survey, published recently which made this known, said the BoG\u2019s directive to the banks provided […]<\/p>\n","protected":false},"author":1,"featured_media":704178,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-704177","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nBanking Sector Received GH\u00a21.5bn Fresh Capital - 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\/09\/12\/banking-sector-received-gh\u00a21-5bn-fresh-capital\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Banking Sector Received GH\u00a21.5bn Fresh Capital - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison, BoG Governor THE COUNTRY\u2019S banking sector received about GH\u00a21.5 billion in fresh capital last year as banks moved to meet the Bank of Ghana (BoG)\u2019s December 31, 2018, deadline to meet the minimum capital requirement. 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