Ghana revokes licences of two banks
Ghana’s Central Bank on Saturday disclosed the revocation of the operating licences of two more banks, Premium Bank and Heritage Bank.
Announcing the decision, Ernest Addison, Governor of Bank of Ghana, said the two years long banking sector cleanup had come to an end, leaving 23 universal banks out of an initial 35.
While Premium Bank had continually breached the capital adequacy ratio requirements since December 2017 making it insolvent.
It had also not been able to meet the new minimum capital threshold of about 83 million US dollars as of the December 2018 deadline.