- No other bank is expected to face similar collapse as UT, Capital bank
- The Central Bank reveals that all banks in the country have enough money to operate
The Central Bank has allayed fears of possible collapse of other banks following the recent take over of UT bank and Capital bank.
The take over of these banks have been related to the incapacity of these distressed banks to reach high above the 10 percent capital threshold.
This report by the Central Bank follows earlier speculations that some 8 other banks are on their way to getting collapsed and subsequently being taken over by a larger bank.
"I don't think there are any issues there in terms of whether there are other banks that are in the same situation as these two banks. No, they are not," Governor of the bank of Ghana, Dr Ernest Addison clarified in a press statement.
With the massive take over of these banks by GCB Bank, there are high expectations of some workers of the bank to be laid off as GCB bank is feared to not have the capacity to manage all 53 branches of banks.
Do you have any story to share with YEN? Get featured! We are available on Facebook and email via email@example.com