As a result, commercial banks also bear greater responsibility to their customers in earning interests on such deposits.

The latest banking sector report by the Bank of Ghana shows that deposits accounted for 62.5 percent of the banking industry’s assets as at December 2017.

According to the central bank’s data, total deposits went up by some 6.67 billion cedis between December 2016 and the same period last year.

For the twelve months period, total amounts deposited with all banks amounted to 58.28 billion cedis.

This is up from the 51.66 billion cedis recorded in December of the preceding year.

84.2 percent of all deposits came in as domestic currency while the remaining 15.8 percent came in foreign currency.

Borrowings by commercial banks also came in as the second source of funding for commercial banks accounting for about 16 billion cedis of the funding needs of the banks.

By this, commercial banks were able to raise money for their operations from short and long term instruments.

Although income from loans to customers dropped between December 2016 and the same period last year (46.4 percent in December 2017, from 50.7 percent in December 2016), it perhaps still leads as income generating source for banks.

A situation, the central bank attributed to the drop in lending rates as well as the rising Non Performing Loans.

Meanwhile, the share of income from investments (both short and long term) increased from 33.5 percent in December 2016 to 38.0 percent in 2017, justifying the shifts in banks’ portfolio preferences despite declining money market rates.

Also, the money that the banking industry made from fees and commissions such as ATM card use dropped from 10.6 to 10.2 percent between the twelve month period.

While ‘other’ income, recorded a marginal increase from 5.2 percent to 5.5 percent during the period under review.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post Deposits still major source of funds for banks – BoG report appeared first on Citi 97.3 FM - Relevant Radio. Always.

When I moved out of Ghana to US and Canada, one thing that I have seen separate Ghana from those two countries is that the little things matter.

Sometimes we blame other people for the state of affairs of our country, but I think 99% of our problems are self-inflicted.

If you are a bank in Ghana, make no mistake you are competing with other countries for capital and interbank dealings, an investor & treasurer will most likely chose a bank that was on time to publish its Financial Statement.

March 29, 2018 was the deadline according to subsection 2b of section 90 of the Banks and Specialized-deposit taking Institutions, Act 2016 (Act 930) for all Banks in Ghana to publish their full financial statements (FS) and not the condensed FS on their websites.

At end of the day, only 2 banks had so far done the right thing: Societe General Ghana & CalBank.

What surprises me is that the head-office of 13 foreign controlled Banks have published their group annual FS.

With this attitude, how can a bank from Ghana raise bonds outside, I do hear Nigeria Banks raising Eurobonds etc. but I have not heard of such story about banks from Ghana raise any Eurobonds.

So my questions are as follows;

1. When will banks in Ghana start doing the right thing when it comes to timely publication of FS on website?
2. Same thing happened in 2016 and I am not aware of BoG penalty on Banks, so when will Bank of Ghana start doing the right thing by applying subsection 3 of section 90 of Act 930?
3. When will Securities and Exchange Commission of Ghana and Ghana stock exchange start doing the right thing by ensuring that  listed banks like Ecobank, Access, ADB, SCB, HFC and GCB publishes their full FS by deadline date?
4. Have BoG received all FS and long form reports of all banks?
5. When will some auditors in Ghana stop treating financial statements as if it is their financial statements and focus on ‘must have’ and instead of focusing on ‘Nice to have’.

Honestly, I don’t see the issue we have in Ghana, it is simple, you agree your FS notes and everything with auditors before December and auditors also audit 11 months up to December and come January, it is just the numbers.

Here in Canada, aside from other roles I play in Bank, I lead a reporting team as well, we have October year end, by November we are done with everything and December first week we then publish the FS.

Act 930

90. (1) A bank or specialised deposit-taking institution shall exhibit at each of its branches or agencies in a conspicuous place throughout the year, a copy of the last audited financial statement in respect of the operations of the bank or specialised deposit-taking  institution.

(2)          A bank or specialised deposit-taking institution shall

(a)          In the case of a bank not later than three months after the end of its financial  year; or

(b)          In the case of a specialised deposit-taking institution not later than four months after the end of each financial year,

furnish the Bank of Ghana with a copy of its audited financial statements together with the auditor’s statutory and long form audit reports; and cause the financial statements together with the auditors’ reports to be published on its website if any and in at least two daily newspapers of national circulation.

(3)          A bank or specialised deposit-taking institution which fails to comply with this section is liable to pay to the Bank of Ghana, an administrative penalty of not more than one thousand penalty units.

–

Author: Emmanuel Akrong

Credit Consultant

The post 32 banks fail to comply with financial statement publication rules (Article) appeared first on Citi 97.3 FM - Relevant Radio. Always.

Also, the central bank has directed the full disclosure of conflict of interest guidelines by such institutions to tame adverse impacts of delayed loan repayments.

The rules are part of new corporate governance directives issued by the Bank of Ghana to sanitise the financial sector.

Undoubtedly, the directive comes on the back of recent developments in the banking sector where directors and CEOs have been cited for not abiding by standard corporate governance rules.

To stop the issuing of unchecked loans to interested parties of directors of banks for instance, the Bank of Ghana wants such Directors to disclose to their boards, their professional, investment and any other interest in proposed credit facilities to be disbursed at any given period of time.

Portions of section 20 of the Banking Business- Corporate Governance Directive 2018 read,

“A person, before assuming office as a director or key management personnel of a regulated financial institution, to declare to the board of directors of that regulated financial institution and the Bank of Ghana; 

1. a) the professional interests of that person or the office that person holds as manager, director, trustee or by any other designation; and
2. b) the investment or business interests of that person in a firm, company or institution as a significant shareholder, director, partner, proprietor or guarantor, with a view to prevent a conflict of interest with the duties or interests of that person as a director, or key management personnel of the regulated financial institution.”

Similarly, the board of a financial institution shall ensure that transactions with related parties (including internal group transactions) are reviewed.

This is among others to assess risk and apply the appropriate restrictions like enforcing non preferential terms that guide the exposure limits for loans to related parties and staff.

“The board shall ensure that transactions with related parties (including internal group transactions) are reviewed to assess risk and are subject to appropriate restrictions (e.g., by requiring that such transactions be conducted on non preferential terms/basis) and applicable legislation and other requirements such as those prescribed under sections 67 to 70 of Act 930 regarding exposure limits for loans to related parties and staff,” a portion of the Directive stated.

In addition, a regulated financial institution is expected to seek prior written approval of the Bank of Ghana before it appoints a CEO or Deputy CEO.

Moreover, the Bank of Ghana’s directive is asking all banks to as a matter of compliance, have formal written conflicts of interest policy and an objective compliance process for implementing the policy.

Among others, the conflict of interest policy shall include; the duty of the director to avoid possible activities that could create conflicts of interest.

Also, a review or approval process for directors to follow before they engage in certain activity so as to ensure that such activity will not create a conflict of interest.

And, the duty of the director to disclose in addition to section 59 of the Act, any matter that may result, or has already resulted in a conflict of interest.

72. The board should have formal written conflicts of interest policy and an objective compliance process for implementing the policy. The policy should at the minimum include;

a) the duty of the director to avoid possible activities that could create conflicts of interest;

b) a review or approval process for directors to follow before they engage in certain activity so as to ensure that such activity will not create a conflict of interest;

c) the duty of the director to disclose in addition to section 59 of the Act, any matter that may result, or has already resulted in a conflict of interest; 

d) the responsibility of the director to abstain from voting as prescribed under section 59 of the Act and on any matter where the director may have conflict of interest;

e) adequate procedures for transactions with related parties to be made on a non-preferential basis; and

f) the way in which the board will deal with any non-compliance with the policy.

 (ii) The board shall ensure that appropriate public disclosure is made in the annual accounts and information relating to the policies of the regulated financial institution on conflict of interest and potential material conflicts of interest as provided to the Bank of Ghana on quarterly basis.

(iii) The Board shall maintain an up-to-date register for documenting and managing conflict of interest situations in the regulated financial institution.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post BoG stops unwarranted loans to ‘cronies’ with new corporate rules appeared first on Citi 97.3 FM - Relevant Radio. Always.

What happened?

Section 107 of Act 930 empowers the Bank of Ghana to appoint an Official Administrator to take official control of a bank when its capital adequacy ratio (CAR) has fallen below 50% of the required minimum of 10% (i.e. below 5%) which was the case with uniBank. The capital adequacy ratio (CAR) is a measure of a bank’s capital. It is expressed as a percentage of a bank’s risk weighted credit exposures (credit risk, market risk and operational risk). Most importantly, this measure is used as a basis to protect depositors and promote the stability and efficiency of the financial systems (Investopedia).

In the case of UT and Capital Bank’s collapse, the Governor of BoG, Dr. Ernest Addison, blamed it on lack of good corporate governance exhibited by the two banks. He said, “Corporate governance plays an important role in promoting a sound financial system, contributing significantly to improving overall performance not only in profits but in credibility.”

Without self-discipline exhibited towards the implementation of good corporate governance policies and practice, any corporate organization will be headed for doom.
From the BoG’s communique, it seems weak supervisory standards and lapses in operational procedural are what informed the decision to take over the Administration of the Bank. The question is whether BoG is reacting to the earlier communication of interest in adb by UniBank or its acting in its capacity as the regulator (due process).

1. Does the regulator in this case, referee, being reactive in its duties? 2. Is the banking sector adhering to proper Corporate Governance practice? 3. What are the punitive actions that will be meted out to Management of institutions, with issues such as creative accounting and non-compliance with directives from the central Bank? 4. Subsequently, was uniBank trying to increase its Capital Adequacy Ratio with the BELSTAR move in the form of financial engineering by the so-called claim of pledging of shares. What’s the endgame of BELSTAR; is it to merge the operations of uniBank and adb to hold majority stake? I think the Security and Exchange Commission should sit up and probe the operations and nature of dealings by BELSTAR in the financial Market.

5. Consequently, what’s the role of KPMG in the administration of uniBank for six (6) months? Is it limited to just its day to day management or complete restructuring? What will be the repercussion after the 6 (six) months, will the old management assume their respective positions or not? What should be the expectation of shareholders; will they lose their interest in uniBank after the 6 months? These are questions that need answers in the coming days.

It’s interesting times in the financial sector with quasi banking institution such as Microfinance institutions and Investment other institutions also committing even greater offences than the main stream Banks, with about 30 of them hurled before EOCO already.

Must the regulator sit and act only when there is distress in the sector; the agency theory which management has is the duty to act in the best interest of customers (depositors) since they hold their money in trust for operations, the question bothering minds is whether management are withholding information from stakeholders and using it to their advantage.

uniBank, BELSTAR CAPITAL LIMITED AND GOVT. OF GHANA LOVE AFFAIR

In a bid by Unibank to bring its CAR back to the required minimum, it invited Belstar, to help it raise GH¢600 million to shore up its capital to meet the new BoG minimum capital requirement. One would ask, why GH¢600 million when they needed GH¢400 million? This could be attributed to the fact that uniBank was highly illiquid and that it needed the extra ¢200 million to pay off its debts and get back to normal operations. As it is now, it looks like that may never happen.

It brings us back to the earlier question; If uniBank agreed for Belstar to raise GH¢600 million for them to shore up their capital, it only meant Unibank were not in the capacity to meet the new capital requirement, thus it needed the help of Belstar. So, how were they going to buy Belstar out of adb? Well, it now looks like uniBank was never going to buy Belstar out of ADB. In simple terms, uniBank was going to convert what it owed Belstar into shares after they had taken over ADB. After all, that is the agreement Belstar had with uniBank earlier on; we will raise the GH¢600 million for you in return for an equity stake in uniBank.

That brings us again to an earlier question; does government, the Bank of Ghana or the Securities and Exchange Commission (SEC) have any leverage at the moment to block this deal? The most interested party among these three is the government of Ghana especially when the finance minister, Mr. Ken Ofori – Atta announced in his 2018 budget statement to Parliament in November 2017, that the government intended to merge adb and NIB, and rename it the National Development Bank. Thus the government must have been unhappy about Belstar and uniBank’s arrangement.

Well, it looked like BoG was government’s Holy Grail in a different way. I bet nobody saw the appointment of KPMG as administrators for uniBank coming. Since the BoG is always aligned to any sitting govt., the government of Ghana was fully armed with this approach to block such a deal from happening. uniBank had a lot of issues that were not privy to the public, but there were some speculations about them being in bad health in the public domain. Going head to head with the BoG and the government by making some public announcements must have been a bad idea after all.

The effect of efficient market hypothesis on the market will affect stakeholder’s decisions in the financial Sector i.e. citizenry losing confidence and trust in the banking sector with the happenings in the last 8 months.

Corporate communication should be the key in how such information is publicized to prevent negative behaviour reactions from key stakeholders. Deepening corporate governance and strict adherence to compliance of banking regulations by key players should be enforced strongly.
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By: Joshua Asare Date & Yemoh Nii Mensah Benjamin

The post Bank of Ghana; the Gov’t of Ghana’s Holy Grail appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to the Reuters News Agency, management of uniBank is of the view that the BoG did not meet the requirement to notify them before announcing the takeover.

[contextly_sidebar id=”OguAHlKcUd8BMyxDQZdzqEgJKVkUd8Ir”]A legal adviser to uniBank, Dominic Ayine, made known this intent saying “We intend to go for arbitration.”

It is as yet unclear where the bank will pursue this arbitration.

Dr. Ayine has confirmed this decision to Citi News off record, but has refused to give further details.

BoG, KPMG takeover

The Bank of Ghana announced that it had appointed private audit firm KPMG Ghana, as the administrator when it announced it had taken over the management of uniBank.

According to the central bank, it took the decision to save uniBank from collapse.

The BoG in a statement said, KPMG, as the official administrator, will play the key role of assuming control of the bank and all its branches and “carry out the responsibilities of the shareholders, directors, and key management personnel of uniBank.”

It stated that during the period of official administration of uniBank, “the bank will remain open for business under the management and control of KPMG overseen by the Bank of Ghana, and is not being closed and liquidated.”

uniBank was found to have persistently maintained a negative capital adequacy ratio below zero making it technically insolvent.

This contravened the 10% minimum capital adequacy ratio required.

uniBank also suffered liquidity shortfalls and consistently breached its cash reserve requirement.

As a result, uniBank relied extensively on liquidity support of over GHS 2.2 billion from the Bank of Ghana over the past two years to meet its recurring liabilities.

The BoG revealed that uniBank had failed to comply with a directive from the BoG to stop granting new loans whilst also and deliberately concealing some liabilities from its balance sheet.

uniBank also failed to comply with several other regulatory requirements, including lending to a number of borrowers in excess of its regulatory lending limit.

Before all this, uniBank was one of nine banks identified after the asset quality review exercise undertaken in 2016, to be significantly under-capitalized with a capital asset ratio of 4.75%.

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By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post uniBank to challenge takeover by BoG appeared first on Citi 97.3 FM - Relevant Radio. Always.

Dr. Assibey-Yeboah said the appointment of blood relations and friends into executive positions at the expense of competence and the establishment of business lines without the required capacity are some of the key reasons why some local banks are struggling or have collapsed completely.

[contextly_sidebar id=”wuGOjVSW6UcVtg1hGNQZkT8ZdwwlXEv9″]”These are corporate management issues. It is for my father so I am the Managing Director and I am loaning out [Money]. They venture into things. DKM had DKM airport or something. They had cement companies. If you go into a lot of these, [you see that] they had a lot of business that they are not well vexed in,” he told the media in Parliament on Wednesday.

The MP was commenting on the recent insolvency of uniBank, an indigenous bank.

uniBank was found to have persistently maintained a negative capital adequacy ratio below zero making it technically insolvent. This contravened the 10% minimum capital adequacy ratio required.

uniBank also suffered liquidity shortfalls and consistently breached its cash reserve requirement.

As a result, uniBank relied extensively on liquidity support of over GHS 2.2 billion from the Bank of Ghana over the past two years to meet its recurring liabilities.

uniBank’s insolvency followed the total collapse of two other indigenous banks, UT Bank and Capital Bank in August 2017.

UT and Capital Banks were unable to turn around their negative capital adequacy position, which necessitated a Purchase and Assumption agreement allowing GCB Bank to take over all their deposit liabilities and selected assets.

BoG intervention timely

Dr. Assibey-Yeboah, who is a customer of uniBank, said the Bank of Ghana’s (BoG) intervention is apt.

“It is the proper thing because if you are not careful and the bank goes under water, it is liquidated then I would have also lost my deposits at uniBank so what the Bank of Ghana did was the right thing to do.”

The BoG announced KPMG Ghana as uniBank’s administrator when it announced it had taken over the management of the bank. The central bank took the decision to save uniBank from total collapse.

Dr. Assibey-Yeboah said KPMG Ghana was well vexed to save the bank from collapsing within its six-month timeline.

“The administrator [KPMG] will go into the books and go after all the non-performing loans. So in six months, we should see a revival.”

Ailing Microfinance sector

The BoG has also said the problems in the financial sector are also reflected in the Micro Finance sub-sector.

The BoG Governor in a statement noted that the distress in this sub-sector has been characterized by “severely impaired capital; inability to meet regulatory capital adequacy requirement; generally low asset quality; and liquidity crises.”

“These have culminated in threats to depositors’ funds thus eroding public confidence and undermining efforts to promote financial inclusion,” he added.

Using figures to highlight the precarious situation, he said out of the total number of 566 licensed Micro Finance Institutions in 2018, 211 are active but distressed or have folded up.

Also, out of the total number of 141 rural and community banks, 37 are active but distressed or have folded up.

In total, it is estimated that 272 out of the 707 institutions in the sub-sector, representing 38.5%, are at risk.

“This indicates that approximately GHȼ740.5 million is owed to an estimated 705,396 depositors of the distressed or folded up MFIs and RCBs. In terms of significance, the deposits under distress form 8.81% and 52.49% of industry total deposits of RCBs and MFIs respectively.”

–

By: Duke Mensah Opoku & Delali Adogla-Bessa/citifmonline.com/Ghana

The post Local banks’ struggles due to poor corporate governance – Assibey-Yeboah appeared first on Citi 97.3 FM - Relevant Radio. Always.

Although he failed to name the ailing financial institutions, he said those banks have serious asset quality challenges which have affected their capital strengths and may force them into insolvency along with UT Bank, Capital bank and uniBank.

Mr. Akrong, who has done extensive research on the banking sector, further noted that three banks, one of which was uniBank, have been “on life support” from the Bank of Ghana.

[contextly_sidebar id=”QD4eDqIDKlOGsfFCY0xIB6VYNLu92ULr”]Mr. Akrong made the revelation on the Citi Breakfast Show on Wednesday on the back of the takeover of indigenous bank, uniBank by the Central Bank.

BoG, which has handed over management of the bank to audit firm, KPMG, said it took the decision to prevent uniBank from collapsing after several months of trying to give uniBank the chance to bounce back, to no avail.

The central bank explained that uniBank had low capital levels and took a number of decisions which the BoG had kicked against.

The uniBank takeover took Ghanaians by surprise as they were still reeling from the collapse of UT and Capital banks which were taken over by the GCB bank only seven months ago.

Despite painting a gloomy picture of the banking sector, Mr. Akrong said the sector is not in crisis, adding that the current challenges were manageable.

“There is no banking crisis at the moment. What we have is asset quality crisis but it is under a manageable scale. What I would say is that some of the issues that UT, Capital and uniBank have are not pervasive. It’s only a few banks in my view – not more than nine banks—have similar problems because their assets have been written down as a result of high asset quality problems and because of that it has eaten into their capital and for those banks, they are on the verge of collapse unless additional capital is pumped in them. But to put it in perspective, it is not pervasive. From a liquidity standpoint I would say roughly they are about 3 banks which from my analysis, one of them is uniBank,” he added.

Throwing more light on his research in the banking sector the consultant said most of the banks that are struggling to survive have issues with risk management.

“I’ve done extensive analysis on this. I did three analyses; liquidity analysis, asset quality and the other is capital. It doesn’t take you magic science for you to know who the nine banks are. You can easily see the banks which have capital problems. It’s clear from my analysis.”

“From asset quality standpoint, 15 banks have asset quality ratio of more than 20% which means one out of every 5 bank loan in Ghana is bad. That is a big problem. People ascribe it to energy sector but energy sector is not a problem. It’s a systemic issue of risk management. When it comes to capital, if I use the GHc120 million as a yardstick, I can count only nine banks which only have a capital problem at the moment. So you could see that it is not really big. On liquidity, it’s about three banks which are on liquidity life support, on asset quality, we have about 15 banks which are really in bad shape in terms of their asset quality and in terms of capital, we have like nine banks which have capital problems,” he added.

Blame auditors, uniBank management

On the uniBank collapse, Mr. Akrong blamed its management and auditors for the bank’s woes.

He insisted that if the auditors had done their work well, they could have predicted the fall of the bank ahead of time.

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By: Godwin Akweiteh Allotey/citifmonline.com/Ghana
Follow @AlloteyGodwin

The post Nine other banks could collapse if… – Banking Consultant appeared first on Citi 97.3 FM - Relevant Radio. Always.

As the story unfolds, here are 10 points to keep note of, including the fact that uniBank failed to comply with a directive of the Bank of Ghana to stop granting new loans, and that the bank deliberately concealed some liabilities from its balance sheet.

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By: citifmonline.com/Ghana

The post 10 things to know about the uniBank takeover [Infographic] appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to him, the continuous existence of government’s ownership in adb and the likelihood for the government to influence resource allocation, could have impacted the profits of the bank therefore leading to the pledging of shares by the shareholders.

Mr. Imirhe’s comment is in reaction to a report within the week, of a purported takeover of adb by uniBank after a pledge by some four shareholders of adb.

Speaking on the Big Issue, he said the quest to improve on profits influenced the decision by the private investors.

“I am not saying that the government’s ownership in any way affects the quality of service of adb which is still as it has always been if not better. But there are issues of profitability; for instance, if the government can get the bank to push something into a project for developmental purposes when it has the alternatives that would have been more profitable but do not have the developmental function, what it means is that in order to contribute to the development of the country is to forgo the profitability as an institution,” he explained.

Mr. Imirhe added, “Remember that the private investors are just in for the profits. So I think the institutional investors have now decided that with government as the majority shareholder, adb was not maximizing their profitability and therefore they wanted to opt out.”

The move if successful, could have given uniBank a controlling interest of 51 percent in adb.

Currently, the shareholding structure of adb involves; Bank of Ghana (9.5%), government of Ghana (32.3%), Belstar Capital Limited (24%), Starmount Development Company (11%) , SIC-FSL (10%).

Others are EDC Investment Limited (6%) as well as Retail investors and adb staff (7.2%).

The Bank of Ghana has since denied knowledge of any such transaction.

In a statement released on Wednesday, March 7, 2018, uniBank dismissed reports of any takeover of adb as purported.

It rather explained that the pledge has been necessitated to get the shareholders in question fulfill a financial agreement they went into in November 2017.

Toma Imirhe believes the coming in of adb could have also distorted government’s plan to direct adb to support the developmental agenda.

“Now uniBank aware of the situation realised that there are four shareholders who are disenchanted in this way and when we put all these shares together, it gives 51 percent. Now if they take over the bank, then they can prevent government from undertaking the developmental plans that it has and operate on purely commercial profits. So the whole thing was based on getting the shares of all of those guys and having a controlling stake,” he emphasized.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post adb, uniBank saga: Shareholders chose profits over devt – Toma Imihere appeared first on Citi 97.3 FM - Relevant Radio. Always.

The reforms are expected to among others provide a comprehensive plan by the central bank to improve activities in the microfinance industry.

It also comes on the back of reports of customers losing their investments to some microfinance institutions when their operations have been suspended over inefficiencies.

In a publication, the BoG listed the microfinance companies that are in good standing for the information of the public.

According to the latest publication, there is a total of three hundred and nineteen (319) micro finance institutions.

A further breakdown also shows that there are forty (40) money lending institutions, six (6) Financial NGOs as well as two hundred and seventy-three (273) microfinance institutions.

Already, the Governor of the Bank of Ghana, Dr. Ernest Addison has served notice that the central bank will not issue any license this year.

According to Dr. Addison, this is to allow the central bank strengthen control and supervision of the activities of the financial institutions.

In response, the microfinance association has lauded the move by the regulator saying it will help identify non-complying institutions and sanction them accordingly.

For last year alone, Citi Business News reported at least seven separate cases of microfinance institutions whose inefficiencies led to investors losing their investments.

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By:Pius Amihere Eduku/citibusinessnews.com/Ghana

The post BoG clamps down on illegal microfinance companies appeared first on Citi 97.3 FM - Relevant Radio. Always.