Banking: Expected Increase in minimum capital requirement to reach ¢400 million
The central bank is expected to announce an increase in the minimum capital requirement for commercial banks to ¢400 million Cedis from the current ¢120 million, the B&FT has learned.
The move, if confirmed, would represent an over two hundred percent increase from the previous minimum requirement; a feat which will record the highest capital increment in the banking industry.
If confirmed, commercial banks are expected to be given up to the end of next year, December 2018, to meet the new capital requirement.
This comes in the wake of calls for more stringent measures by the central bank in regulating the banking sector following the takeover of UT bank and Capital Banks by GCB Bank. When announced, it is expected that the capital increment will lead to mergers across the banking industry.
More information is expected to be released on this matter in the coming days.