Business News of Wed, 1 Aug 20184

BoG merges Unibank, Royal Bank, others

The Bank of Ghana has announced that it has taken over the management of some banks in the country because they have failed tom meet the minimum capital requirement.

The affected banks are Royal Bank, Beige Bank, Sovereign Bank, The construction Bank and Unibank.

The banks have been put under new name Consolidate Banks.

The development comes as the Construction Bank voluntarily folded up its Ghana operations on Tuesday July 31,2018.

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