Guaranty Trust Bank (Ghana) Limited has posted a pre-tax profit of GHS127.5 million for the 2017 financial year representing a 20% growth over previous year’s GHS106.5 million. This is the eleventh (11th) successive year that the bank is declaring profit since its commencement of operations in Ghana in 2006. After-tax...
The International Finance Corporation (IFC), a subsidiary of the World Bank Group, has presented ‘Banking on Women’ - an initiative that seeks to encourage banks to explore targetted investment and advisory services to promote access to finance for women entrepreneurs. The product is expected to also explore untapped opportunities within...
The National Investment Bank (NIB) has hailed the Supreme Court’s decision to uphold its earlier ruling that absolved the bank of a US$60million judgement debt suit, saying it has renewed investor confidence in its business. The ruling will allow the bank to seek new business and will allow its corresponding...
Identity fraud and fraudulent transactions are major risks in the global banking system, and that is why financial institutions go to great lengths in trying to insulate banks from cybercrime and other fraudulent activities. In fact, PwC’s Global Economic Crime Survey 2016 revealed that cybercrime  has now jumped to the second...
As Identity theft and fraudulent transactions gain grounds in the global banking system, the West African Monetary Institute (WAMI), is collaborating with all Central Banks within West African Monetary Zone (WAMZ/Zone) to launch the Bank Verification Number (BVN). According to the WAMI, the move is expected to ensure that individuals...
Shama Cooperative Credit Union (SHAccu) has recorded an impressive growth as its income rose to GH¢3million in 2017 from GH¢2.7 million recorded in 2016 and The company also within the same financial period recorded a surplus of slightly above GH¢131 million. Total assets also rose from GH¢12.4million in 2016 to GH¢14.3...
uniBank unknown to ADB, can only act on proxy Shareholding in ADB remains unchanged Belstar et al shares pledged to uniBank The B&FT on Wednesday March 7, 2018 reported that a consortium of financial institutions which controlled majority shares in Agricultural Development Bank (ADB) had pledged their shares, proceeds,...
Economic analysts at the research desk of Standard Bank, the parent company of Stanbic Bank Ghana, have forecast an improved economic performance and narrowing of the current account deficit in 2018. Year on year inflation is expected to be around 9.3% as strong base effects from food inflation continue, while...
With barely nine months to the stated capital deadline for banks, the Energy Commercial Bank could offload up to 50percent of its by May and raise almost GH¢400million on the bourse. Setting a target of May to launch its Initial Public Offering (IPO), the bank, which has a stated capital...
This is not California or any of the other 21 states in America that effect rules for habitual offenders. More is the pity. The public notice issued last week by the Securities and Exchange Commission (SEC), the emphatic public statement made by the Governor of the Central Bank, Dr. Ernest...