The Industrial and Commercial Workers’ Union (ICU) of the Ghana Trades Union Congress (TUC), has lauded the government for rescinding its decision to merge the Agricultural Development Bank (ADB) and the National Investment Bank (NIB) into the proposed National Development Bank (NDB). It has, however, urged the government to recapitalise the two banks to enable […]
File photo The government has been accused of unfairness in its selection of banks for a bailout after they failed to raise the new GHS400 million minimum capital requirement. According to banking consultant Richmond Atuahene, at least, one of the five banks selected for the GHS2 billion bailout via the Ghana Amalgamated Trust (GAT), does […]
The government has abandoned its plans to merge the Agricultural Development Bank (ADB) and the National Investment Bank (NIB) into the proposed National Development Bank (NDB). The move is intended to pave the way for each of the banks to recapitalise and revamp its operations. The Daily Graphic is reliably informed that the merger was […]
Managing Director of ADB, Dr John Kofi Mensah and Dr John Kweku Asamoah – NIB MD The government of Ghana has cancelled its plans to merge the Agricultural Development Bank (ADB) and the National Investment Bank (NIB) into the proposed National Development Bank (NDB). The cancellation is to allow both banks to recapitalise and revamp […]
Agricultural Development Bank (ADB) is working to delist the bank from the Ghana Stock Exchange, according to persons close to shareholders of the Bank. Sources say the development has been influenced by a change in ownership of the Bank; in terms of those with a majority interest in ADB. This was after the Bank of […]
ADB is moving fast to ensure that it meets the new capital requirement of GHS 400 million. The Bank is, therefore, seeking to hold an extraordinary general meeting next week to seek shareholders’ approval to raise the required funds to meet the capital level put forth by the Bank of Ghana before the December deadline. […]
THE PRIME Minister on Monday outlined measures to assist former Petrotrin employees, including priority housing, agriculture incentives and possible regularisation for those on Petrotrin lands. He stressed, however, that was not a licence for squatting. Dr Rowley made the announcement during a statement in Parliament. Rowley said the first measure for ex-Petrotrin workers is the […]
The Bank of Ghana (BoG) has endorsed the decision by the Agricultural Development Bank (ADB) to convert debt of GHc150 million to equity shares to help meet the minimum capital requirement. Shareholders of the Bank at an extraordinary meeting in Accra approved the deal after a short presentation from the Board Chairman, Alex Benasko. Speaking […]
ken Ofori-Atta, Finance Minister The Government has announced a special programme to rescue five indigenous commercial banks that failed to reach the BoG’s minimum capital requirement of GH¢400 million. The Finance Ministry in a statement issued today said a new entity called: the Ghana Amalgamated Trust (GAT) will support solvent and well-run indigenous banks, which […]
Dr. Kofi Mensah The Agricultural Development Bank (adb) says it has been able to meet the GH¢400 million minimum capital requirement of the Bank of Ghana (BoG). The bank’s shareholders authorized the Board of Directors to raise a total of GH¢383 million in fresh and existing capital to enable the bank to meet the Central […]
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