Just in: CBG takes over Premium and Heritage banks

Heritage  and Premium banks’ licenses have been revoked and merged with Consolidated Bank Ghana, the Bank of Ghana have announced.

At a press conference in Accra on Friday, the Bank of Ghana Governor, Dr Addison stated  that the operating licenses of Premium Bank and Heritage Bank have now been revoked over various issues including low capital.

The capital adequacy ratio of Premium Bank, for example, was found to be negative 125%.

As a result, selected assets and liabilities of the Premium Bank and Heritage Bank will now be transferred to the Consolidated Bank.

 

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GOOD DECISION!