Ghana's Central Bank maintains in its effort to sanitize the banking sector. Notably, among some apparent sanctions it has achieved has been the necessary takeover of personal-owned banks: Capital financial institution and UT financial institution returned with the aid of the nation-personal Ghana Commercial Bank underneath the authorization of the Bank of Ghana in 2017. Other activities were done by means of Ghana's Central Bank but, the sector still wishes some balance. Currently, Ghana's banking area is risky though its prospect seems true inside the now not too remote destiny need to primary regulations and activities are finished via the Central bank.
The area nonetheless nursing it wounds over last 12 months sanctions on the two banks, yet some other financial institution has skilled the vital financial institution direct sanctions, accordingly, Unibank, (It was adjudged the 6th great performing business enterprise in Ghana at the Ghana Club one hundred awards in 2017). Currently, the us of a`s Central Bank has introduced that as at twentieth, March 2017, it has mandated and certified the Management of Unibank, ( privately owned bank) be dissolved and brought over by means of KPMG. Interestingly!
Admittedly, Unibank has been a innovative bank if one must observe their banking activities over the years from a distance, as such, the Central financial institution and KPMG manual to the financial institution ought to be one with a view to now not dissolve their high quality worker-purchaser subculture which is effortlessly seen to be "vibrating" amongst their customers and financial institution. Unibank has some very loyal clients, with huge numbers being investors. Bank of Ghana, consequently, have to guide Unibank, thinking of the brand that exists and locating the plain methods to restore the financial institution.
Having said this, the number of Universal banks is manner too many for Ghana. The wide variety need to be capped as having close to 40 banks for a populace of 26 million is glaringly a good deal. What desires to be carried out is to build the ability of current banks to "department out" to customers. This can be finished in two methods: expanding bodily infrastructure to reaching closer to clients and expanding virtual (Online/Mobile banking) infrastructure. Already existing banks must be keen on improving their provider revel in, getting toward humans, expanding virtual manner of banking and enhancing on banking protection.
Making it clear, but, I am now not in any manner in opposition to the registration of banks, In reality, my position is the direct opposite as I am not oblivious of the importance of financial services to people and the financial system as an entire. My function will bypass for the alternative. My perspectives sincerely are that in preference to registering new banks that with some of them operates some branches without a advanced offerings or infrastructures, it might be higher to useful resource current banks to improve their abilities.
Finally, some of those monetary establishments will need to recollect merging need to there be any opportunity of staying profitable in enterprise and serving customers at standards as the sector starts offevolved to grow to be more aggressive within the coming years and also specifically now that the minimal capital requirement has been multiplied by way of the Central Bank to 400 million Ghana Cedis for banks, in an effort to take effect from December 2018.
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