Tag Archives: Unibank

Bank of Ghana; the Gov’t of Ghana’s Holy Grail

“Bank of Ghana appoints official administrator for uniBank Ghana Limited” I’m sure it came as a surprise to many players in the financial sector. It’s simple, KPMG has been appointed by BoG to take over the helm of affairs at uniBank to try and rehabilitate the bank within a period of six months, and return it to regulatory compliance. After ...

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uniBank to challenge takeover by BoG

Management of insolvent indigenous Ghanaian bank, uniBank, has indicated that it will work to reverse the takeover of the bank by the Bank of Ghana (BoG). 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. A legal adviser to uniBank, Dominic ...

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Local banks’ struggles due to poor corporate governance – Assibey-Yeboah

Dr. Mark Assibey-Yeboah

The Chairman of Parliament’s Finance Committee, Dr. Mark Assibey-Yeboah, has attributed the challenges facing some indigenous financial institutions to bad corporate governance practices. 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 ...

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We’ll save uniBank first, probe management later – BoG

The Bank of Ghana (BoG) has said establishing wrongdoing on the part of the hierarchy of uniBank is not its key focus, after the Central Bank took over management of the indigenous financial institution. The BoG’s 2nd Deputy Governor of the Bank of Ghana, Elsie Awadzi said the takeover of uniBank is primarily to keep it from collapse. “We do have information ...

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Banking sector still strong despite uniBank takeover – BoG

Bank of Ghana

Despite the fact that three banks have been declared insolvent within the last eight months, with two of them totally collapsing, the Bank of Ghana (BoG) has insisted that the banking sector is in a healthy state. Commenting on the BoG’s takeover of uniBank, the 2nd Deputy Governor of the Bank of Ghana, Elsie Awadzi, said the public need not ...

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10 things to know about the uniBank takeover [Infographic]

uniBank is once again dominating the news after the Bank of Ghana announced that it had taken over the management of the indigenous bank and appointed KPMG to run it. 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 ...

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uniBank takeover: Analyst urges audit of banks’ risks to loan default  

Some economists are advocating an immediate audit into the risks faced by commercial banks in retrieving loans given to their customers to avert a collapse of the financial industry. The suggestions follow the Bank of Ghana’s decision to allow KPMG takeover the management of uniBank over their low capital levels. It is unclear what sanctions the central bank could apply ...

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uniBank takeover: Deposits are safe – BoG

The Bank of Ghana (BoG) has assured customers of indigenous local bank, uniBank, that their deposits will remain safe despite a takeover of the bank’s assets and management. “The Bank of Ghana takes this opportunity to reassure customers of UniBank that all deposits they have with UniBank are, and will remain safe, and that they can continue to do business at ...

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Here are 10 reasons why BoG took over uniBank

The Bank of Ghana (BoG) today, Tuesday March 20, 2018, announced that it has taken over the management of uniBank, by appointing an administrator,  KPMG, to run the indigenous bank. According to the central bank, it took the decision to save uniBank from collapse. Here are the 10 major reasons why the central bank took over uniBank. 1. uniBank persistently ...

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BoG takes over management of uniBank

The Bank of Ghana has announced that it has appointed audit firm, KPMG as administrator for uniBank. This means that the central bank has taken over the assets and management of uniBank. The Governor of the Bank of Ghana, Dr. Ernest Addison, says uniBank is currently insolvent. Addressing a press conference in Accra, Dr. Ernest Addison stated that, KPMG has ...

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