No other banks will collapse - Bank of Ghana clarifies

No other banks will collapse - Bank of Ghana clarifies

- 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

- Click here for the latest stories in Ghana

The Central Bank has allayed fears of possible collapse of other banks following the recent take over of UT bank and Capital bank.

No other banks will collapse - Bank of Ghana clarifies

No other banks will collapse - Bank of Ghana clarifies

READ ALSO: Did you know Mensa Otabil is board chair of collapsed 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.

READ ALSO: Did you know Mensa Otabil is board chair of collapsed Capital Bank?

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.

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Source: Yen.com.gh

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